Published on April 21st, 2017 | by bitcoin0
Nurture and Create Music Through the usage of Blocktrain
Total income generated by the U.K. music industry increased by 5 percent to £925 million ($11.6 million) in 2016, from £881 million ($11.1 million).
Yet despite the popularity of the music industry, musicians often find themselves unfairly compensated.
To rectify this problem, the Open Music Initiative (OMI) and Ujo Music, among others, are attempting to change outdated modes in the music industry to ensure long-term sustainability, with the intent to use blockchain technology to support the creation of music.
Some of the members include Universal Music, Warner Music, Sony Music, Spotify, Intel, Viacom, Red Bull Media, YouTube and Context Labs, as well as blockchain-related startups such as dotBC, BigchainDB and ConsenSys/Ujo.
Ujo Music In the summer of 2015, blockchain startup platform Ujo Music launched Theproblem.wtf to start a conversation focusing on the problems circulating around the music industry.