The MTP Interview: Alan Graham’s Artist’s Guide to Blockchain, Open Music Initiative, Smart Contracts and Dark Social (Part 2)
Posted on: 15 juin 2017, by : Basile

The MTP Interview: Alan Graham’s Artist’s Guide to Blockchain, Open Music Initiative, Smart Contracts and Dark Social (Part 2)

This post is Part 2 of the MTP Interview with Alan Graham. Read Part 1 here . Chris Castle: How are licensing payments fulfilled using blockchain? Alan Graham : Hard to say exactly without examining an actual business model, but for the sake of argument, currently the mechanism for this would require the use of a crypto currency. One of the benefits of something like Bitcoin is that parties who require payment can have what’s called an “address” and payments can be “instantly” made to this address. There are a few a negative sides to this however. Nothing is free. In order to ensure a prompt delivery of payment, there is a cost associated. The party sending the payment is the one who pays the fee. For large payments, this isn’t cost prohibitive, but once you start delving into a micropayment world of fractional pennies per “play” this cost is quite significant. Now you can do “free” transactions, but there are drawbacks to that and not a topic worth going into at this point. So if we looked at a DSP platform like Spotify, it would be pointless for them to send billions of payments out each month, which […]

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