A pair of South Korean researchers are exploring the intersection of blockchain expertise and music in a brand new research assessing use instances and impacts for customers and artists.
Yujun Park and Seongcheol Kim mentioned that whereas artists might understand blockchain as a brand new income stream, opinions differ over the long-term way forward for the rising expertise in music.
Their preliminary research hinges on interviews with 16 South Korean-based artists on the impression of blockchain within the business. Outcomes from the preliminary research present that almost all respondents disclosed that blockchain affords new income streams by way of non-fungible tokens (NFTs) and decentralized finance (DeFi) functions.
A cross-section of artists level to decentralized autonomous organizations (DAOs) as a key instrument in organizing fanbases with out a government.
The surveyed musicians pointed to the utility of blockchain in defending copyrights and the mental property (IP) of artists. Specialists have superior theories of utilizing blockchain to stifle AI companies’ unlawful use of copyrighted supplies to coach their giant language fashions (LLMs).
Nonetheless, the paper goes on to discover a number of flaws related to integrating blockchain into mainstream music. The primary problem is a priority expressed by the artists over the long-term prospects and the notion of actuality.
“Whereas artists perceived blockchain as a chance to find a brand new period within the music business, they had been additionally skeptical in the direction of the close to future because of the recognition of the fact,” researchers defined.
Different issues explored within the paper embody the problem of blockchain-based music platforms breaking into the mainstream, given the stiff competitors from business behemoths.
South Korea’s welcoming stance on blockchain has put it on the prime of the pile with myriad functions in well being, finance, tourism, and provide chain.
Rising applied sciences are altering the face of music
Blockchain isn’t the one rising expertise gaining a foothold in music, with synthetic intelligence (AI) leaving its print within the business. Since 2023, there was a spike within the variety of AI-generated songs mimicking the type and voices of unique artists.
Nonetheless, the technological leap has introduced quite a few copyright violations. One report disclosed that almost all musicians would conceal the usage of AI of their music over fears of a backlash from their fanbase regardless of the widespread use of AI instruments within the ecosystem.
