Distributed Ledger Technology as an Innovative Collective Management Tool for the GCC Music Industry
摘要
Due to its cultural significance, the Gulf Cooperation Council (GCC) has become an increasingly attractive region for global tourism, finance and investment, archaeology and ethnographic studies, amongst others. However, the GCC musicians’ world impact is still relatively circumspect for a region steeped in tradition and cultural heritage. Collective management organisations play a key role in promoting musicians’ work overseas. Yet, this traditional structure has been criticised for lacking transparency, high transaction costs, and often a failure to successfully identify the creators of musical works. Against the fast development of Web 3.0 and de-centralised financial technology, this chapter explores distributed ledger technology’s potential as an alternative collective management tool for artists to showcase their work, finance local talent, and promote the authentic sounds of the region. Distributed ledger technology is well fitted for music management as it shares decision-making power with creators and musicians alike, thus reducing the inherent cost for these creators in the management and distribution of their ouevre. This chapter takes the position that traditional collective management organisations are well placed to play a pivotal role in facilitating a technological shift to the distributed ledger while simultaneously reducing the risk of fraud, ensuring sustainable development and emphasising fairness and economic parity for musicians. Overall, this chapter provides an exemplar for meaningful engagement with distributed ledger technology across the world. As a resource-rich region with a unique ethnographic musical heritage, the GCC stands at the precipice of this new technological frontier.