A master thesis from Aalborg University
BLOCKCHAIN IN THE MUSIC INDUSTRY: A STUDY OF TOKEN BASED MUSIC PLATFORMS
Author(s)
Term
4. Semester
Publication year
2019
Submitted on
2019-08-06
Pages
100 pages
Abstract
The main objective of this research is to look at the use of blockchain technology in the music industry by conducting a study on token based music platforms. This type of platforms is an emerging form of leveraging blockchain technology to solve different problems in many sectors [1]. Guided by relevant theories and concepts, the researcher was able to collect necessary data to tackle the research questions and their analysis. The research produced three different outcomes by using both literature review and empirical data. The first outcome represents the identification of issues and challenges in the music industry, particularly in royalty and copyright management. The second outcome is the creation of an integrative framework that is able to describe how token based platforms operate, create, deliver and capture value. Using conceptual framework analysis, the researcher was able to create the STT framework that is an important artefact of this study and forms the theoretical basis of this research. The STT framework is composed of 12 building blocks that are spread over three domains: Service, Token Mechanics, and Technical. The STT framework contributes to the academic and practical body of knowledge by bringing together scattered knowledge and insights around token based platforms and consolidates them into an integrative framework. Lastly, token based music platforms are studied and analyzed using the STT framework. This was carried out using a multiple case study analysis of two leading start-ups: Musicoin and IndieOn. Considering the novelty of blockchain and the fact that crypto-economics and the concept of token based platforms are still at an early stage. It is expected that the outcomes (the STT framework in particular) produced in this research will form a foundation for the development of further research in this area.
Keywords
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