Here’s something from RBC Capital Markets analyst Mitch Steves – the blockchain technology is expected to grow by $10 trillion USD in the next 15 years.
It has been a decade since the global introduction of blockchain and the Bitcoin. First thought to be a fad, the Bitcoin is now worth $7,300 USD and the blockchain technology market is expected to surpass $16 billion USD by 2024. With corporate giants like IBM and JPMorgan investing heavily in blockchain, mainstream industries are expected to follow suit.
The billion-dollar music community is also starting to adapt blockchain technology, with rising star Inmusik aiming to change the digital music landscape. However, the game is not only open to millionaires, but for everybody who wants to be early adopters.
Find out how you can enjoy a new revenue stream by discovering new music and supporting artists through a blockchain-powered streaming platform called Inmusik.
A Quick Look at Blockchain
Blockchain is database powered by a huge network of users, all of them keeping a record of all the transactions stored in it. All information within a blockchain cannot be changed, corrupted, or lost. At the same time, everyone that has internet access can check transactions recorded in it. With this technology, trust is inherent.
Music Has Gone Blockchained
Just last year, the digital recording industry earned $17 billion USD with 43% of the revenues delivered by streaming. With the rise in the adoption of mobile phones and smart speakers, streaming business continues to boom and it is swiftly shifting the crowd over from CDs to digital music listening.
Disclaimer: This article was produced on behalf of Inmusik by Times Internet’s Spotlight team.