ICST Changing How We Share Content On the Blockchain Network
If you’ve been at a music industry conference this year, follow thought leaders on social media, or keep up to date with the many music and technology blogs and press outlets, it’s likely that you will have come across a combination of the words blockchain and cryptocurrency.
In fact, many blogs on the topic start off in a similar fashion to this one, humorously referencing the unavoidable hype around a technology that, at face value, few truly understand but many want to discuss.
At the same time, more than ever before, artists are becoming increasingly informed, involved and influential in the more administrative areas of the business. If you’re an artist trying to wrap your head around what cryptographically secured peer2peer networks and decentralised digital currencies can do for you and your career, research materials can feel fairly limited (and full of jargon like cryptographically secured peer2peer networks and decentralised digital currencies
Sifting through all of the information, it’s difficult to know what blockchain can realistically do to improve the music industry for artists, what’s achievable right now and what we can hope for in the future.
At ICST, we regularly get approached by artists interested to know more, find out what all the fuss is about and see how they can get involved today.
One of the more commonly presented use cases for music industry adoption of blockchain technology is disrupting how we deliver music to consumers.
Direct-to-fan models, made uber-famous by Radiohead’s pay-what-you-want ‘In Rainbows’ release are, of course, a beacon of musical independence and there have been projects exploring how blockchain can play a role in them.
The general idea here is that the audio file(s) are stored across a decentralised network (think along the lines of BitTorrent, the file is split into many pieces and stored in different places), your fans pay in a cryptocurrency and are then able to download the files directly, removing any need for a third party in the middle.
ICST is taking this theory one step further and partnering with American Idol and StarMaker to add an element of community and talent sharing into the mix. ICST (short for Individual Content & Skill Token) is focused on revolutionizing the content sharing industry by leveraging blockchain technology to give all the power back to the artists.
The ICST platform plans to incorporate a fully transparent rating system for artists, content sharing participants, and users to track the most popular content, as well as comprehensive analytics to give artists a complete picture of how their work is being received.
Utilizing the Ethereum blockchain network, ICST will offer an unparalleled level of transparency, efficiency, and security for the entertainment industry.
Blockchain technology is ushering in a new digital age. It’s time that artists and musicians receive the credit for the work they create.
Join us: https://t.me/icst_official