From Attack of the 50 Foot Blockchain: Bitcoin, Blockchain, Ethereum & Smart Contracts
The recording industry has suffered nearly two decades of crisis, after the 1990s CD boom petered out and the Internet proceeded to turn the entire world of human communication upside down. The musicians themselves are no happier. In an instructive worked example of Blockchain hype in one industry, both sides have heard the word “blockchain” and wonder if it could be their saviour.
Jeremy Silver of Digital Catapult quotes Mark Meharry, CEO of MusicGlue, as calling “blockchain” the “worst case of smoke and mirrors” that he has seen in an industry which “specialises in self-deception”. Nevertheless, the wants and needs behind music industry blockchain dreams are worth exploring.