With all of these moments in mind, we’re really excited about disruption that block chains could cause in the music industry. Three of the five areas we previously identified show up strongly here:

Peer-to-Peer Exchanges — Block chains can enable connections directly between artists and listeners (or, more generally, creators and consumers). They can enable exchanges of value beyond just money for goods. For example, fans can provide their expertise or services in exchange for a split of future revenue. We’re curious: What sorts of micro-jobs will people start doing for the bands they love? Where will new jobs or roles emerge because of these new capabilities?

Digital Scarcity — This might be the biggest deal for the music industry — bringing back the notion of limited edition. Musicians could control how scarce or ubiquitous they want their music to be. For example, Rift could release 5 first editions only or make the first edition accessible to anyone. We’re curious: What standard control patterns will emerge vs. when will musicians want to set their own controls? When will scarcity vs. ubiquity be valuable when both are possible?

Trust + Authenticity — It’s possible with block chains to record and trace origin and ownership so that we can prove that a song is an “original.” Digital rights management (DRM) has become a dirty word because it too often implies management by a middleman. We believe that DRM can create new value when it becomes a relationship directly between the creator and consumer. It’s also important that musicians can trust their supporters for help based on reputation and their proven track record. Block chains can provide trusted records and information as needed. We’re curious: How will provable originals be valued in digital markets when copies are inevitable? How will reputation of creators and consumers be valued as this type of market grows?

In the music industry, block chains could help us unlock experiences that aren’t possible today: from helping musicians make a stable living to forging valuable connections between musicians and their fans. We’d love to hear what excites you or inspires you about this future. What new questions does it make you ask about the music industry and this technology?