Blockchain technology has demonstrated its utility across a number of industries including financial technology, supply chain, logistics, hospitality, healthcare, etc. Even in the case of the music industry, blockchain seems to be a promising measure to tackle the issue of piracy. The open ledger technology can help artists, musicians, and other creative personalities to protect their copyrights, and people are waking up to this fact, albeit slowly and steadily. Along the same lines, the use of cryptocurrency is also gaining adoption and acceptance among musicians and recently the popular social Marketplace MachiX has announced its association with Binance Coin (BNB).
Just so you know, MachiX is a unique initiative and a social platform for discovering the intellectual property rights of owners. Copyright owners belonging to different streams can also connect on this social platform. According to the new agreement, interested customers can buy the music copyrights at MachiX using the BNB. This is certainly going to be a big development in the music industry and signifies the spreading wings of digital coins.
BNB is a cryptocurrency which is based on the Binance Chain technology. The coin is quite popular, and its growing influence can be estimated from the fact that it has surpassed 100 use cases. In fact, according to the blog of the company, there are at least 120 use cases of the BNB with much of the growth coming in just one last month. In the month of May 2019, BNB recorded 83 use cases while in June, the figure went up to 120. This translates into an increase of 45%, which is quite an astonishing figure by any standards of comparison so, you can Read more about Binance Coin Forecast, through our forecast page. What has also led to the growth of the BNB is the continuous expansion of the company in terms of adding its coin on a number of exchanges, payment services, and effectively utilizing the Binance Chain to have a good number of projects to its kitty. The latest listing by MachiX which is now accepting BNB for the purchase of the music is sure to further the expansion momentum of the digital coin.