RE: blockchain and music industry20 Jan 2018 10:44
The point is all of these systems have evolved, and will keep evolving. Yes, it takes time, but everything does. Look at the debit card, before it was the cheque, then the cheque guarantee card came to reduce fraud. Then came the bank card and the hole in the wall (atm) people didn’t get paid cash any more it went by cheque straight to bank, from there you went to the cash machine a withdrew money and paid. That evolved to the debit card, you bypass the atm and do the transaction directly. Now chip and pin, it evolved further. However you view things, Blockchain has the ability to, and will assist the next evolution. Now ... let’s go back to paper accounting, it’s a small minority of people who use it now, most use software (Sage) and that’s evolved no end. Paper tax returns, no more. They evolved and no hand delivering you tax return to your local tax office any more. In January. It’s file online. Slowly but surely the paper return disappears and the online method takes over. Payroll software, 99% of people paid are done through a software package. That information is submitted live to HMRC. All of this, the accounts, the payroll, the banking all have paper backups printed out for filing and hard drive backups stored. Blockchain has the potential to eliminate that. A government wants more tax transparency and Blockchain will give them that. Regardless of what you think of google play or iTunes, eventually they too will evolve. Inventions all start from somewhere. In all those inventions they evolve, some of the old tech still runs alongside the new tech. Not everyone uses a fixe line phone at home or a mobile, some use both, and both essentially do the same thing. One is better than the other as it has more functionality but both work along side each other. Not everyone has to use both or even one. The same will apply to Blockchain but due to its potential abilities eventually it will end up being the core of many systems. Doesn’t matter how you look at it or in what means of evolution, it’s potentials are vast from technology and environmental fronts. It can be applied to so many things. And not all of the companies using it, or developing it have to be the market leaders at this moment in time. Everything has a beginning, no matter what you think, there is every possibility the MSG could change the music industry the same as the next company. You don’t have to be Apple, google or IBM. And even if they aren’t the front runner the use of the tech and it’s success will bring revenue. You clearly don’t like Milestone and Blockchain isn’t brand new tech but at the end of the day, development and evolution of the tech has the potential to change many many things.