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Five ways blockchain tech is going to rock the music and movie industries

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If you’re like any of the 50 million premium users streaming music on Spotify, or the 94 million users watching video content on Netflix, or Apple Music’s 27 million paying listeners, then you probably put a high premium on your ability to consume multimedia content on your digital devices.

Wide adoption of these technologies was only a pipe dream two decades ago, although there had already been early adopters of cutting edge tech even in the nascent stages of the internet.

Think Napster and its contemporaries.

While we had a shaky start in terms of business models and legalized usage, we are perhaps in a golden age of digital multimedia content. Virtually anybody with a smartphone and debit card can now gain access to streaming content — you can even listen or watch for free on some platforms.

And yet, these business models are now again ripe for disruption, in terms of the sharing model and the business model. We are still far from perfect in terms of distribution, access, and profitability for content creators. But we are getting there with some help from tech.

While the argument is that streaming services benefit both users and content creators, the platforms are often accused of getting the giant’s share of the profits, leaving little to the artists. Consider how Taylor Swift held off from Spotify for so long because of reportedly paltry royalty payments.

This is because of the mainly centralized system put up by the likes of Spotify, Netflix, et al.

They are our gateways to content, and as such, control over the flow of information and money in the entertainment industry still lies in the hands of a few — namely, the platform owner, labels, and other organizations that might have a stake in the profits.

Enter the blockchain

While blockchain technology was initially lauded for its revolutionary way of handling financial transactions, it can be used for far more.

We have time and again discussed how the likes of Ethereum, NEO, and other decentralized ledgers can make bigger waves in the future by enabling developers to build applications and platforms that bolster the sharing economy.

Going beyond cryptocurrency, Ethereum lets users create, maintain, and execute smart contracts — all managed in a decentralized fashion through the blockchain. I recently wrote about the real-world applications of this, from managing smart electricity grids, to managing the flow of capital in crowd-funding projects, to disrupting social media.

What’s more interesting is how blockchain tech relates to other industries, like entertainment, for example. As a decentralized ledger, the blockchain aims to democratize oversight over digital assets, increase transparency, reduce transactional friction, and enhance sharing.

That means Blockchain tech can potentially revolutionize the way we distribute and consume music.

Let’s take a look at some concrete ways of how blockchain can significantly impact the music industry.

Challenge 1: Access and distribution

Since time immemorial, there has always been the issue of ownership and access to content.

Example: When you buy a book, do you only buy the copy, or do you own the content you have bought? When you buy a track on iTunes, do you have the perpetual and immutable right to play that song, and can you copy it on another media? This becomes more challenging when you consider a subscription service, wherein you pay for access to the platform, but lose the ability to listen to the track elsewhere or outside of the platform.

OPUS, a startup powered by the Ethereum blockchain is positioning itself as the world’s first decentralized music platform. The startup intends to address long-standing issues in the entertainment and streaming industry, including the ones I have outlined above. According to its whitepaper, OPUS “tackles the issue of music ownership and sharing at an infrastructure and protocol level.” By leveraging Ethereum and the likewise decentralized interplanetary file system (IPFS), the platform can deliver thousands of tracks per second in a fully-decentralized manner.

On a technical level, OPUS encrypts music tracks on the fly and stores these permanently through the IPFS swarm. Meanwhile, you can listen to music through smart contracts, which will contain the decryption keys and file hashes. These smart contracts also provide a way for end-users to compensate creators for their music.

These technical gains are advantageous enough and can potentially improve how just about any multimedia content is distributed and consumed online. The concept is basic enough: Store the music files on the blockchain permanently, lock them for protected access, and give they keys to the people who have the right to access the content.

OPUS addresses this through its API-based distribution layer. Even playback is decentralized, so that users have a choice as to the compatible players they can use. This also gives third-party developers the ability to build applications that can access rich content stored on the OPUS blockchain and swarm.

In addition, OPUS also plans to drastically change the business model of music. The platform does not take a cut from artists’ earnings. In addition, even playlist-makers — who are credited for actually driving traffic to artists’ works — can also earn from their activities.

But where does OPUS get its own business model, then? Currently, the organization has taken support from angel investment, and it has launched its tokensale — otherwise known as an initial coin offering or crowd sale — through which it plans to raise enough capital, in exchange for OPT, which are crypto-tokens that can be used for purchasing music. OPUS is locking in 95 percent of its tokens in smart contract for at least a year, to ensure longevity of the project.

Challenge 2: Global distribution

You would think that with cloud-based services like Spotify and Netflix, you can easily access multimedia content from anywhere at anytime, right?

Unfortunately, there are restrictions, and these are mostly geographical. Some tracks and video content, for instance, are not globally available due to copyright restrictions and other legal impediments that prevent a song’s publisher from distributing to certain countries. In some cases, censorship might prevent a creative work from being distributed in a certain country or region.

While this is unfortunate from the point of view of content creators and consumers, the platforms’ hands are tied, especially if there are conflicts of interest.

The blockchain can potentially resolve this.

Being a decentralized and distributed ledger, there can be no entity that can unilaterally block valid access to content. It does not only involve music, but potentially any kind of digital content. DECENT, a recently-launched platform, offers the ability for publishers to distribute their content globally through its decentralized, encrypted, secure and auditable platform. It aims to eliminate the middleman, thus bringing content directly from source to consumer.

In essence, DECENT is decentralizing the distribution of digital context whilst protecting copyright. DECENT launched their ICO in 2016 and raised over $4 million.

Challenge 3: Commercial viability

One big challenge in distributing creative works is whether these are also commercially viable.

This can be particularly concerning for independent or small artists who do not have full control in managing their works. Case in point: it is estimated that platforms like Spotify get at least 80 percent cut of whatever you pay for your music. The copyright holders (the songwriter, in this case) only get slim pickings.

Big artists — yes, Taylor Swift included — might have more clout, but losing a big part of their potential income to the platform can still hurt, considering the effort one puts into conceptualizing and executing their performance art.

By contrast, independent artists often struggle in competition with everyone else in a big platform.

Here’s where blockchain tech can help – by enabling artists to connect directly with fans and earn from revenues without cuts. A couple of years back, Imogen Heap collaborated with Ujo to deliver tracks directly to fans, whilst accepting payments in cryptocurrency. Considered a proof of concept, that ideal is actually being pursued by contemporary startups such as Heap’s own Mycelia.

Challenge 4: Managing assets and digital rights

We now shift toward tinseltown.

The multi-billion dollar movie industry is also rife for disruption by innovative technologies like the blockchain. It can be said that this industry is currently highly-centralized, with the real power residing in certain few (think Hollywood studios). Movie production is often mired in legalese and fine print, which sometimes results in people not getting their fair share of the pie.

A startup called the 21 Million Project aims to decentralize film creation, which in particular can enable sourcing of talent, locations, and crew from across the globe. Better transparency means everyone in the production outfit knows where exactly the production money and box office earnings go.

In particular, 21 Million aims to improve the way digital rights are managed, to ensure that filmmakers — and any stakeholder who truly has a share — will be properly compensated, all through smart contracts. SingularDTV is another startups that aims to decentralize the entertainment industry after raising $7.5 Million in its successful ICO.

Challenge 5: Combating piracy

As with music, film is also no stranger to piracy, and it is often a costly battle for movie studios, distributors, and even law enforcement agencies to fight against piracy. Essentially, a movie is a collection of copyrights and titles, which span across screenplays, derivative works from books, designs, technical works, licensing from other works, merchandize, and so forth.

A startup called Custos Media aims to keep track of digital assets like movies, eBooks and other media through blockchain technology through its “imperceptible watermarking technology.”

Piracy can be a big expense and headache for movie studios. But in the same light, studios can also exploit content creators who might not have enough clout to enforce their stake in a film’s revenue or production.

A distributed ledger can address this challenge by creating an immutable record of transactions on any asset, idea, creative work, and the like. These can be tracked throughout their lifetime, even when ownership is sold or otherwise transferred or assigned, even when these assets are assigned to players in other industries, such as music, television, and the like.

The bottomline: Decentralization helps everyone

By now there is no doubt that blockchain technology can potentially disrupt just about any industry, trade, or activity.

It’s a matter of finding the right execution and adequate adoption by its users. Entertainment certainly has mass appeal, and the success of startups like OPUS, 21Million, and the several others innovating the field offer an insight into just how big an impact the blockchain can have on our lives.

This post is part of our contributor series. The views expressed are the author’s own and not necessarily shared by TNW.

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Don’t Eat These Foods on Diwali

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Foods not to eat on diwali

నరకాసురుడు అనే రాక్షసుణ్ణి చంపినా సందర్భంగా జరుపుకుంటున్న పండుగ దీపావళి భారతదేశం లోనే హిందువులు చేసుకుంటున్న పండగలలో ఇది ఒక్కటిగా చెప్పుకోవొచ్చు.దీపావళి నాడు లక్ష్మి దేవి ని పూజిస్తే ఐశ్వర్యాలు సిద్ధిస్తాయని,విజయం సాధిస్తామని చెడుని ఎదిరించి దైర్యం వస్తుందని అంటారు పెద్దలు.దీపావళి మహా లక్ష్మి కి చాలా ప్రీతిపాత్రమైనది గ చెప్పుకుంటారు.ఆ రోజు భక్తి శ్రద్దలతో తల్లిని పూజిస్తే ఎలాంటి కోరికలు అయిన తీరుతాయని నమ్మకం.ఇక దీపావళికి భక్తిగా నోముకుంటే ఆ సంవత్సరం అంతా శుభం కలుగుతుంది.అయితే ఇప్పుడు దీపావళికి అర్ధం మార్చేశారు దేఎపావలి అంటే పటాసులు కాల్చడమే పండగ అనుకుంటున్నారు

ఇక మరికొందరు దీపావళి పండగ అనగానే పొద్దున్న లేవటం మటన్ లేదా చికెన్ వంటి మాంసాహారం తెచ్చి వండుకొని తింటుంటారు.దీపావళి మహా లక్ష్మి కి ప్రీతిపాత్రమైన రోజు అందుకే ఆ రోజు మాంసాహారం తీసుకోవడం మంచిది కాదు.దీపావళి నాడు పూర్తిగా ఉపవాసం చేసి కేవలం శాఖాహారం అది కూడ ఆకు కూరలను తీసుకున్నట్లైతే మంచి జరుగుతుందని చెబుతున్నారు పండితులు.ఎంత పూజ చేసి ఎన్ని కొబ్బరి కాయలు కొట్టిన కూడ ఆ రోజు మాంసాహారం తింటే ఫలితం ఉండదు.లక్ష్మి దేవి పూజ చేసిన రోజు మాసాహారం తీసుకోవడం మంచిది కాదని అలా చేయడం వల్ల అష్ట దరిద్రాలు చుట్టుకుంటాయని అంటారు.అలా చేస్తే ముఖ్యంగా ఆర్ధిక ఇబ్బందులు ఎదురు అవుతాయి.డబ్బులు వచ్చినట్లు వచ్చి ఖర్చు అవుతుంటాయి అందుకే ఆ రోజు ఎత్తి పరిస్థితుల్లో మాంసాహారం తీసుకోవోద్దని చెబుతున్నారు

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7 Haunted Hotels That’ll Scare

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7 haunted hotels

The idea of ‘ghosts’ has always been interesting but experiencing paranormal activity can lead to some indelible scars on one’s mind. People all around the world have felt spooky feeling in some hotels. Some fled while some stayed back to narrate stories. From icy sensation to weird sounds to haunting apparitions, some hotels of the world have really seen “too much”. Apart from celebrities, royals and common people, some hotels have also been visited by ghosts and spirits.

Here’s a list of spooky hotels from around the world:

#1 Stanley Hotel, Colorado

A hotel of paranormal activity has witnessed the ghosts of F.O. Stanley, the founder, and his wife passing through the lobby quite frequently. Also, the sound of children running and giggling down the halls is a common phenomenon in this spooky hotel. Opened in 1907, this hotel lost one of his housemaids, Elizabeth Wilson, in 1911. It is said her ghost once returned to assist the guest with their belongings in room 217. Chilling, isn’t?

#2 Hotel Roosevelt, California

This hotel is world famous for the celebrities it houses and also the lavish parties. Sadly, this lovely hotel has also witnessed some spooky happenings like the ghost of Marilyn Monroe viewing herself in the mirror placed in her former suite and also the ghost of the late actor Montgomery Cliff playing his trombone from room 928. How spooky is this!

#3 Langham Hotel, London

A very notable historical hotel in London, Langham hotel was established in 1865 and since then it has seen the coming and going of famous celebrities and some lavish parties. Other than celebrities and royals, ghosts also find respite in this hotel which has often heard guests complaining about seeing the apparition of Napoleon the third, a German soldier and a doctor who murdered his wife. If willing you can book room 333, the most haunted of all rooms! Willing, anyone?

#4 Hotel Raj Kiran, Lonavala

The authorities got so disturbed from constant complaints from residents of  the room at the corner of reception area about bed sheets being pulled off forcefully, seeing a blue ray of light in midnight, that they have now stopped renting that room. It’s been vacant since many years. So scary!

#5 Ballygally Castle, North Ireland

The castle was built by Lord Shaw and his wife Lady Isabella in 1625. Sadly, Lady Isabella fell off from the top of the tower. Some say she jumped while some say she was pushed. Her ghost is seen wandering in the hotels, knocking at the doors and then disappearing. In her honor, the hotel has reserved a room as the “The Ghost Room”.

#6 The Savoy, Mussoorie

One of the most famous haunted hotels in India, The Savoy was built in 1902 but after the murder of Lady Garnet Orme in 1910, began witnessing weird paranormal activities in the hotel. Famous for its haunted corridors and walls, the hotel was visited by the Indian Paranormal Society who recorded a lady’s whispers. Wonder what she was trying to say?

pic 6

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#7 Hotel Burchianti, Italy

Built in Florence, the hotel is famous for its impeccable styled rooms and the opulent décor. But apart from these what makes this hotel a bit more special is a list of paranormal activities going on at a regular basis. Guests have often seen the ghosts of children skipping down the halls, a lady sitting in a chair and knitting and a maid doing her cleaning jobs early morning. Visitors of Fresco Room where once Mussolini stayed, complain of being watched continuously and feeling an icy breath on their faces. Haunting!

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The Key to Successful UK Dissertation

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Dissertation-Help-UK-London

Help me with dissertation

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