Music is not just a form of self-expression, but also a craft that has created a $25.9 billion industry. However, E. Smitty believes that business has corrupted the core of music, especially with issues of copyright and ownership.
According to E. Smitty, the scalable blockchain BSV blockchain is one of the key solutions to musicians’ lack of incentives for their creations. He does not like what business has done to the integrity of music, artists and the entertainment industry as a whole. “We’ve been so desensitized through modern technology,” says E. Smitty.
- Smitty plans to utilize the inherent capabilities of the BSV blockchain to empower the music industry, especially its infinitely scaling capability, which allows for the efficient handling of massive data at an extremely high throughput, while constantly lowering transaction fees. Thus, the BSV blockchain is capable of processing micropayments—the sending of very small amounts of money.
- Smitty’s vision to promote music on blockchain allows creators to have sole ownership of their work. Multiple new avenues will be available to monetize artists’ original works via tokenizatio. This allows BSV take part in the new digital economy based on tiny payments at massive volumes through pay-per-use systems that spreads income around users.
- Smitty’s involvement as a two-decade long producer is significant for the music industry, especially when he has developed patents to create standards in tokenization. But this is just a portion of his path to change the unfair treatment of musicians. The mixologist plans to take a radical approach of “disrupting the music industry,” as he loudly advocates for the adoption of the BSV Blockchain, despite what detractors say.
“Really, this is a sleeping giant. Anytime something is mass ridiculed, I feel like it’s got the potential, and that’s why it’s being mass ridiculed, because you know we’re not scared to do what other people are afraid of … that’s what I’m going to be bringing to the table,” says E. Smitty.
Other than E. Smitty, there is another blockchain leader who aims to revolutionize music through blockchain. Shem Booth-Spain, the CEO of blockchain-powered music streaming service Blarecast, said that music would exponentially be empowered by enterprise blockchain. Artists will be able to monetize their content faster through micropayments.
“Blockchain will economically empower musicians and artists, defying the famous adage in the world of Arts that claims that artists [musicians] are poor,” said Shem Booth-Spain. “We are lucky that we are being able to give the power back to the artists. They can be finally rewarded for all their lost incentives.”
Artists get little to no appreciation for their work, especially those who are starting out. As if being belittled was not hard enough for musicians and artists, being financially-deprived only worsens their situation.
The BSV blockchain addresses such an issue among musicians by allowing them to take back control and ownership of their music, and it comes with no catch for the creators. Indeed, disruptive tech will change the lives of the creative industry.
To know more about the benefits BSV can offer to the music industry, or even artists as a whole, register for the London Blockchain Conference happening on May 31 to June 2.
