Blockchain in Media, Art and Music: Accelerating development in the media space through new technologies

The African Blockchain Developers Call (ABDC), a web conference series aimed at increased participation and adoption of blockchain solutions, which has ran its on the FLOOR Platform consistently for more than ten weeks, explored the theme “Blockchain in Media/Art” in its eleventh week of its weekend series. The session, which explored the emerging issues and prospects of the music, media and art industries towards adopting blockchain solutions, was held on the 14th of November, 2020.

The convener of the Series, Adebayo Adebajo, explained the objective of the sessions and stated that the sessions had gone a long in driving brilliant discussions and conversations on the application of distributed ledger technologies to different industries to drive growth and development. He mentioned that the African Blockchain Developers Call had also driven a lot of enthusiasm and interest in the blockchain solutions through its Bootcamp, where budding developers and enthusiasts are trained on the workings of blockchain and how they could apply them to industries to drive innovation and development. 

During the Platform Presentations, Adam Clay, BitSong Ambassador and Musical Artist, explains how the BitSong platform works and posited that blockchain technology would go a long way in redefining how music is being made and distributed amongst the populace. He mentioned that distributed ledgers would help in curbing intellectual property disputes in the music space, as there would be adequate and transparent records would be available to ascertain facts in dispute. 

He explained that blockchain would allow a direct connection between artistes and their audiences, thereby eliminating unnecessary barriers in the place of third parties. He also stated that payment methods would be enhanced through blockchain technology, thereby rewarding talents and hardwork of artistes in the industry. He expressed optimism that blockchain would help in filtering out trash music to give avenue for great songs and music to thrive.

Palheiro, who is a Founder at Tarasca Dao, Galiza Europe, explained that the company is dedicated to promoting arts and games and stated that blockchain technology helps in keeping secure and transparent data on art works. He highlighted the platform’s objectives and mentioned by using the distributed ledger, works could be assessed easily and conveniently by their owners and creators. He mentioned that the platform connects users with viable markets for their works and products. 

During the Panel Session, Adam Clay and Palheiro examined issues on the adoption of blockchain to the art and media sector and how they could drive innovations in the industries.

Palheiro mentioned that blockchain technology allows buyers to engage in trade anonymously, providing security of identity and personalities to individuals who desire anonymity. He expressed optimism that although individuals feel more reluctant in trying new ways to their industries, the art industry would be revolutionized a great deal by new technologies as the world itself adopt new policies to its industries. He stated that although the adoption would be fraught with challenges, the adoption of blockchain technology would drive innovation in the industries.

He argued that there should be several protocols within the blockchain space driving innovation and effective art distribution in the art industry to drive health competition and effective delivery of services. He posited that strain of communication amongst strangers across platforms could serve as a stumbling block to adopting blockchain technologies and urged platforms to find ways in eliminating tensions to promote efficiency and innovation in the industries.

Adam Clay stated that there has not been enough orientation in the music market on the prospects of blockchain technology and emphasized that there is need for more awareness on how these mechanisms could help process their activities efficiently. He mentioned that artistes are more concerned on creation of music rather than selling out, creating an apathy for the adoption of new technologies. He also posited that practitioners within the industry could fight against blockchain implementation as it may hinder their powers they hold sway over the industries, thereby making these adoptions difficult.

He stated that the lack of regulations is an obstacle to blockchain adoption and industries have to evolve to these technologies or get driven down in the market positions. He mentioned that fundings and investments may pose challenges as adoption of new technologies into creative industries and posited good ideas would always find their way to execution.

The speakers explored strategies and policies to ensure blockchain applications in creative industries and the prospects of blockchain technology in driving innovation and development in music, arts and media.

The African Blockchain Developers Call virtual weekend series is having its twelfth weekend series with a theme focused on Real Estate application, IoT and Smart Metering on the 21st of November, 2020. You can register via this link: https:/u/bgeg.floor.bz/

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