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Best deal. There are also behaviors rooted deeply in music-industry norms, including pure human negotiation, for which Wallach believes blockchain alone is insufficient. So what is blockchain actually good for in music, then?
Elon Musk’s endorsement of Dogecoin boosts it 55%
Regardless of how the appeals play out, this controversy has illuminated how music creators, like in many other industries, lack the power to determine the price of their own goods. That concept of having full price transparency between creator and consumer sounds crazy to people in music, but is completely normal in any other industry. Wallach is putting his money and energy where his mouth is, albeit rather selectively: His first and only third-party blockchain-music commitment to date is as an advisor to JAAK , a startup that is currently piloting a decentralized global-rights network known as KORD with several major music companies including Warner Music Group and BMG.
The music industry could also benefit from studying how outside industries with equal or greater complexity deal with blockchain. Today, Wallach spends the majority of his time advising and investing in healthcare and biotech startups through his firm Inevitable Ventures.
A handful of his portfolio companies involve blockchain, including Nebula Genomics , which just won the SXSW startup pitch competition. Can Blockchain Do Better? Tags Bitcoin for Rockstars D. Wallach music industry.