Blockchain applications in music explored in South Korean study

A pair of South Korean researchers are exploring the intersection of blockchain technology and music in a brand new examine assessing use instances and impacts for customers and artists.

Yujun Park and Seongcheol Kim said that whereas artists might understand blockchain as a new revenue stream, opinions range over the long-term way forward for the rising expertise in music.

Their preliminary examine hinges on interviews with 16 South Korean-based artists on the impact of blockchain within the business. Outcomes from the preliminary examine present that almost all respondents disclosed that blockchain presents new income streams by non-fungible tokens (NFTs) and decentralized finance (DeFi) purposes.

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 intellectual property (IP) of artists. Specialists have superior theories of utilizing blockchain to stifle AI corporations’ illegal use of copyrighted supplies to train their large language models (LLMs).

Nevertheless, 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 direction of the close to future as a result of recognition of the truth,” researchers explained.

Different issues explored within the paper embrace the issue 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 high of the pile with myriad purposes in well being, finance, tourism, and provide chain.

Rising applied sciences are altering the face of music

Blockchain shouldn’t be the one rising expertise gaining a foothold in music, with artificial intelligence (AI) leaving its print within the business. Since 2023, there was a spike within the variety of AI-generated songs mimicking the fashion and voices of authentic artists.

Nevertheless, the technological leap has introduced quite a few copyright violations. One report disclosed that almost all musicians would conceal using AI of their music over fears of a backlash from their fanbase regardless of the widespread use of AI instruments within the ecosystem.

Watch: Empowering musicians by Blarecast

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