Smart contracts on the blockchain can eliminate the magnitude of this complexity, replacing a mission-critical role of music labels in this ecosystem. According to Imogen Heap, “If you’re a computer program, a piece of software, a database . . . these issues disappear, as it’s just maths half the time. This bit goes to this person . . . and it doesn’t take a year or two to reach the artist, writer, performer. . . . It’s instant because it’s automated and verified. On top of this, culture-shifting new music distribution services gather really useful data from artists’ fans, which could
...more

