Blockchain for Digital Brand Communications in Music Business

Abstract

This paper aims to provide a systematic analysis of the existing literature, focusing on the applications and hurdles encountered by blockchain technology in the music business. It aims to shed light on the potential benefits that can be realized through the integration of blockchain and the Internet of Musical Things (IoMust) in the music industry. It discusses the blockchain concept in detail & its role in the music industry supported by grey literature.

Blockchain 4.0 can benefit by providing huge data to understand the customer responses & which in turn can be used to put the data for better communications & understanding the fan base. It helps in micropayments through smart contract & ethical royalty disbursement. The study can be extended with individual level by surveys & can be studied utilizing companies offering music blockchain services as a case study or studying at the organisational level adoption. As music is mainly spread through online & events unlike offline in the past, understanding the fans is easily possible if the blockchain & IoMusT can be integrated.