BLOCKCHAIN TECHNOLOGY: A VERITABLE TOOL FOR COMBATING MUSIC PIRACY IN THE NIGERIAN MUSIC INDUSTRY

Abstract

Disruptive technologies have always been the result of human growth and development, because development brings new challenges, thus needing new solutions. The Nigerian commercial music arena is fraught with numerous challenges requiring new approaches for seeking solutions. Among these many challenges is the nagging problem of music piracy. Musicians within the industry should be able to get commensurate reward in terms of revenue accrued to them. This is however not the case due to the dangerous activities of pirates and other middle men within system. The obvious solution lies in finding ways to eliminate these middle men and all forms of third-party interferences, thereby bridging the gap between the artistes and the music consumer. One effective way of doing this is by engaging the use of the blockchain technology, an advanced database mechanism that allows transparent information sharing within a decentralized network. The objectives of this paper therefore is to highlight the problem of music piracy and other negative activities within the Nigerian music industry, explain and advocate for the adoption of blockchain technology as a solution to these problems, and also highlight other applications of the new technology. The paper adopts the descriptive method of research. Sources of data include books, journals, and the internet. Findings show that blockchain technology, which is based on a decentralized system, is an excellent solution to many problems associated with the Nigerian commercial music ecosystem.