Cryptocurrency has the Potential to Impact the Hip-hop Industry

0
19

JP Buntinx

It has been quite challenging to take cryptocurrency mainstream. Not every industry seems to lend itself to this form of money either. The hip-hop industry, however, is a different matter altogether, according to Drumma Boy.


Hip-Hop and Cryptocurrency

Although the link may not be apparent at first, there is a correlation between blockchain, cryptocurrency, and hip-hop. The music industry can benefit tremendously from these emerging technologies. Even artists such as Imogen Heap envision a rather bright future for blockchain and cryptocurrency alike.

In the hip-hop industry, things are a bit different. There have been some interesting ventures in this regard. Drumma Boy, also known as Christopher Gholson, is confident the use of blockchain and cryptocurrency will help improve things in the hip-hop industry. He is also a member of XYO Network, a project focused on smart contracts through GPS tracking. It seems this technology will lend itself to the music industry, such as payments to artists and proof of ownership for music.

In fact, Drumma Boy recently revealed how he has been involved in cryptocurrency for some time now. Connecting to the XYO Oracle Network occurred by chance and the right timing. Initially brought out to meet the XYO Oracle Network team to write a song, Drumma Boy was brought on board due to his knowledge and enthusiasm for blockchain and cryptocurrency.

What Comes Next?

The future of hip-hop and cryptocurrency remains open to debate. As a payment method, cryptocurrencies can introduce a fair number of positive changes. Smart contracts cut down on the fraud and cheating that is found far too often in the music industry. The hip-hop industry may even develop its own cryptocurrency moving forward, although a number of hip-hop artists have already lent their weight behind certain cryptocurrencies, such as Ghostface Killah from the Wu-Tang Clan.

Enforcing this change within the hip-hop industry won’t be easy. Drumma Boy confirms the opportunity is there, and XYO coin may lead the charge in this regard. The music industry has no shortage of money-making opportunities right now. Even so, correct distribution of earnings and rights still remains a pressing issue to this very day.

It will be interesting to see how this situation evolves. With the music industry prone to disruption, there is a legitimate first-mover advantage which is often overlooked. XYO Coin may be important, but rest assured other cryptocurrencies will eventually make their mark as well. Hip-hop artists have a knack for trying new things, and blockchain and cryptocurrency are not such ludicrous ideas. Even more so, cryptocurrency shares an ideological view with hip-hop artists of giving the middle finger to establishment authorities.

Do you think cryptocurrency will become more ingrained in hip-hop music and culture? Let us know in the comments below.


Images courtesy of Shutterstock.

Tags: , , , ,

Publisher Source link

Ledger Nano S - The secure hardware wallet

LEAVE A REPLY

Please enter your comment!
Please enter your name here