Case Study: Radically Rethinking the Music Industry with Blockchain

Together, we have set out to provide the infrastructure and tools necessary to evolve the music industry into a decentralized, blockchain-powered future.

Like Spotify, the Emanate platform will provide streaming music to consumers. However, the Emanate ecosystem is designed to bring a high level of trust, automation, and transparency to the process through a blockchain network, also known as a distributed ledger.

A distributed ledger is a consensus of replicated, shared, and synchronized digital data geographically spread across multiple sites, countries, and institutions. There is no central administrator or centralized data storage. This helps align the incentives of all parties involved and eliminates many of the frustrations musical artists experience.

Through the Emanate platform, the market will determine the price of each song, and a token economy will ensure that the principle of supply and demand operates without interference.

The platform promises to address each of the following key challenges identified by Emanate leaders:

• Lack of transparency around payments: Emanate offers instant payments across borders with transparent transaction fees and royalty structures.
• Inefficient payment processes: Emanate offers strengthened traceability, mitigating the high costs of fraudulent transactions.
• Lack of global collaboration due to an absence of trust: Emanate offers a collaboration framework powered by smart contracts and distributed ledgers.
• A mismatch between those who add value to the industry and those who extract value: Emanate offers standardized metadata to support immutable content and context.
• Increasing barriers for artists who wish to break into the industry: Emanate allows any artist to upload music tracks, and a pure supply-and-demand economic structure puts success directly in the hands of each musician.