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Each of those can be challenged. You pick any industry, and this technology holds big potential to disrupt it, producing a more thriving world where people get to take part in the value that they create. The music market, for instance, is a disaster, a minimum of from the viewpoint of the musicians.
Then, along came the technology business, which took a whole lot of value, and the songwriters and artists are entrusted to crumbs at the end. What if the new music market was a distributed app on the blockchain, where I, as a songwriter, could publish my song onto the blockchain with a smart contract specifying how it is to be utilized? Perhaps as a recording artist publishing my music on a blockchain music platform, I'll state, "You listen to the music, it's complimentary.
You put it in the film, the clever agreement pays me." Or how about utilizing it for a ring tone? There's the clever contract for that. This is not a pipeline dream. Imogen Load, who's a fantastic singer-songwriter in the UK, a best-selling recording artist, has actually now belonged to producing Mycelia, and they're working with an amazing company called Agreement Systems, that's all around the world, blockchain designers, using the Ethereum platform; Ethereum is one blockchain.
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I fully anticipate that lots of huge recording artists will be seriously investigating an entire new paradigm whereby the artists get made up for the value that they create. This Author could fail? I'm not a futurist. I think the future's not something to be predictedit's something to be accomplished. What we're arguing is that this technology is advanced and holds huge potential to change society.