How Joseph O’Connor thinks crypto tech will continue to impact music producers


Joseph “PlugWalkJoe” O’Connor is a prominent cryptocurrency expert. He works as both an advisor, and as a forecaster who has attained a lot of valuable insight into the world of cryptocurrency trading.

Crypto has had a significant impact on the music industry since it broke onto the scene and is showing no signs of slowing down. On this, Joseph O’Connor says:

“We all know blockchain is capable of fostering increased financial inclusion, but the technology can also be leveraged to assist in many other industries outside of just finance.”

One of these industries is the music scene, which, like finance, is dominated by a few significant gatekeepers who demand that artists go their way or the highway. The internet helped open up the music industry with platforms like YouTube and Soundcloud being great ways for new artists to gain an organic following – but blockchain can take this further.

“Blockchain technology can certainly help put more power in the hands of music producers, as well as their fans,” says Joseph. He adds that “music streaming services, while useful, act as a middleman for artists, have created some discrepancies when it comes to the payment of royalties, and this is something I think blockchain can help with.”

With the principles behind the appeal of cryptocurrencies, the industry can be made fairer for artists who are emerging onto the scene. This can make the market much more diverse, allowing people to monetise their work in a much more rewarding way. Of course, more diversity means more music to listen to and enjoy, which can only be a positive for those passionate about enabling artistic expression.

Joseph says, “In the same way that cryptocurrencies are decentralised from the dominant banking system, blockchain can decentralise the music industry and take power away from intermediary bodies and major labels.”

Joseph goes on to say, “Opus is an example of a streaming platform with a blockchain infrastructure and has basically done away with hosting fees because of it,” and adds “royalties are distributed independently, and artists can retain almost 100% of revenue.”

There are also some other music streaming platforms like eMusic and Music life that Joseph mentions run on the same principles. It’s certainly true that utilising blockchain technology can give emerging artists more money from the work they are doing.

Joseph says, “These days people seem to care less and less about music labels and more about the individual artists’ brand, so the use of blockchain for music streaming platforms makes more sense.”


Recent Posts

Meet Alexander James Rodriguez: Actor, Award-winning Singer, & Just 13

It’s hard to know how an interview will go when you first sit down, but…

51 years ago

Is there enough Aussie music on the radio?

It has been the case for a while that bands looking for success, both regionally…

51 years ago

Kim Kardashian accused of ‘blackface’ in new magazine cover

The reality television star faced backlash from fans for a magazine cover she posted on…

51 years ago

Taylor Swift crowned Most Influential Person on Twitter

Twitter is probably the noisiest place on the internet especially when Reddit threads and YouTube…

51 years ago

Rihanna might drop lawsuit against her father over Fenty issue

It looks like the legal battle between father and daughter might not make it to…

51 years ago

Bandit and Bardot: A Miley Cyrus and Cody Simpson collab?

Miley Cyrus and Cody Simpson are taking their relationship to the next level. Ever since…

51 years ago