Cryptocurrency Q&A
Could cryptocurrencies and blockchain help Spotify pay artists directly?
Could cryptocurrencies and blockchain help Spotify pay artists directly?
alexander_smith_musician
Tue Jul 09 2024
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7 answers
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Could cryptocurrencies and blockchain technology potentially revolutionize the music industry by enabling Spotify to pay artists directly? In the current landscape, artists often receive a fraction of the revenue generated by streaming platforms, due to complex royalty systems and multiple middlemen. Could blockchain's decentralized and transparent nature streamline this process, ensuring artists receive a fairer share of the profits? Additionally, would this approach increase transparency, allowing artists to track their earnings more accurately? Or are there potential challenges, such as volatility in cryptocurrency values, that could hinder widespread adoption?
7 answers
Alessandro
Thu Jul 11 2024
Ek highlighted the potential of these technologies to enable users of services like Spotify to make direct payments to artists.
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Federico
Thu Jul 11 2024
In 2019, when the initial concept of Libra was unveiled, Daniel Ek, the CEO of Spotify, expressed his vision for cryptocurrencies and blockchain.
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Gianluca
Wed Jul 10 2024
Artists would have the opportunity to receive payments directly from fans, bypassing traditional intermediaries.
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DigitalDuke
Wed Jul 10 2024
BTCC, a UK-based cryptocurrency exchange, offers a range of services that align with this vision.
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GangnamGlitter
Wed Jul 10 2024
Specifically, he emphasized the capability to facilitate such transactions across international borders.
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