Blockchain is a technology that enables the creation of a secure, shared record of transactions. In the music industry, it is increasingly being used to track copyright ownership and facilitate payment to artists when their works are used. This can help reduce piracy and ensure that artists receive fair payment for their work.
For example, instead of relying on third parties to manage and distribute payments to artists, the blockchain allows them to be carried out in an automated and secure way, which can help ensure that artists receive fair compensation for their work. Distributing their music more efficiently and without the need for middlemen is entirely possible.
In short, the blockchain can offer a number of benefits to the music industry, such as greater transparency and better management of royalties and payment to artists.