What is blockchain and why does it matter?




Blockchain is an utterly new technology.

Previously, understanding an internet protocol like HTTP or SMTP wasn't all that important.

You use email and surf the web, but don't really need to know how it all works.


 

Blockchain (also known as distributed ledger technology) is fundamentally different from these protocols in that it isn't just about the way information moves through the web.

It's because blockchain provides an opportunity to fundamentally rewire value exchange between people.

Economics, governance, energy, culture... everything is up for revision thanks to this technology.

 
 

If the above is the practical, then here is the visionary.

To quote Music Tech Fest founder Michela Magas, "blockchain today is much like cinema when it was first invented."

Step back in time for a moment and think about those early days, when people first fired up moving picture cameras. What was one of the first things they did with this groundbreaking new technology? Film theater plays.

In other words... this brand new art form was so paradigm shattering that people could only understand this new art form by looking at a previous one.

In many ways, a lot of blockchain projects take this approach. They're looking at past conditions and applying a new technology, rather than rethinking the conditions themselves.

So when we say "the future is decentralized" we're looking at this tech in fundamentally new ways. As MP3s and servers allowed a new distribution method called "streaming" so too will blockchains and other decentralized technologies birth utterly new forms that can't even be imagined yet.




With this new perspective in mind, we invite you to explore.

These videos from us (and others) examine how blockchain will impact artists and society. We also have a few articles below that share some of our plans and vision.




Blockchain for DJs + Producers - Let me drop a dazzling question, much as you might drop a track on a crowd about to hit a massive peak of orgiastic dance frenzy: What technology could usher in a new era of unparalleled creative freedom, artistic control and collaborative expression?
Blockchains for metadata and licensing - Imagine for a moment that embedded within music files was a smart contract that could run 24/7, sending out automated licensing, usage and payment agreements to hundreds of parties around the world without phone calls, emails or face to face contract-signing.


Want to go even deeper?

Our founder has compiled a list of articles about cryptoeconomics on Medium.

Thanks for sharing :-)

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