Blockchain Evolution in Music Industry Revolution leaves Mainstream Behind

Posted By: Ivana Capponi In: News On: Wednesday, December 9, 2015 Comment: 0 Hit: 1080

It's no news that music companies express their interest in Blockchain technology and the benefits it brings to the record labels industry. Some musicians and experts believe that this cross edge technology can change the future of the music industry worldwide.

While the world’s leading music industry giants like EMI, UMG, Warners and Sony Music drive their artist using traditional promotional methods the adoption of modern technologies by new players on the market strive to leave major mainstream record labels far behind.

We’ve contacted Simon Edhouse, the Managing Director of Bittunes - new music sharing and earning platform. It offers unknown artists opportunity to achieve recognition and protects their intellectual property in a public ledger. The desktop and Android application uses a P2P network to monetize the exchange of digital data as users share songs, while using Bitcoin as the primary operational currency, but denominating all songs in USD.

CoinTelegraph: How can you characterise the main idea of your business? Who are your key customers?

Simon Edhouse: The concept of ‘Customers’ doesn’t really make sense in Bittunes. Because we are really a kind of ‘Self Publishing Platform’. There are three classes of users, 'Music Makers', (Artists), 'Music Movers' (Buyers) and 'Music Managers’ (anyone who provides services to to Artists, this could be a small indie label, a sound or lighting technician or even a roadie).

Bittunes is starting to.....

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