The world first came to know about ‘blockchain technology’ in 2009 when Bitcoin, a form of cryptocurrency, was invented. Today, when cryptocurrency is subject to controversies, blockchain technology remains at the top in data management. The applications of this technology reach far beyond cryptocurrencies. The industries that are making use of this technology include the banking sector, investment and financing, healthcare, real estate, supply chain, and now music. The world realizes that blockchain technology is a major part of their future, but people are still unaware of its potential. There is one man who realizes that blockchain can also considerably benefit the music industry. Sean Koh, popularly known as ESKOH, states, “Music may be the most fertile environment for blockchain.”
START OF THE NEW ERA FOR THE MUSIC INDUSTRY
There is a deep-rooted connection between music and technology. The ability to set up at-home recording studios and highly-advanced music instruments is an example of how well technology and music go together. Up till now, the music industry professionals had not discovered the potential blockchain technology holds for this industry. ESKOH – which stands for “every situation kan offer hope” – is one of the few individuals who have directed his focus to bring improvements to the music industry using blockchain technology.
He is the founder of Koherent Inc., a global holdings group which originated from a student-owned record label, through which he has launched projects that “allow celebrities to bypass Google and Facebook to protect, control, and sell their data on their own around the world.” In 2018, ESKOH met Julia, a member of the eMusic advisory board; he realized that he and the team of eMusic had similar goals. He then decided to join the eMusic team. ESKOH serves as one of the advisory board members of eMusic.
ESKOH believes that it is the right time to introduce blockchain to the music industry. When he was asked about how this technology is going to impact the music industry, he replied, “To start, the music industry is notorious for not paying out publishing checks either in a timely manner or a fair manner when it comes down to dollars and cents. So, if there’s a trusted, verified ledger to measure plays, streams, and downloads, and all the various rights, that transparency will be very beneficial.”
He further added, “Blockchain has been applied in government, finance, and other established institutions. Meanwhile, the music industry has been disrupted every five-to-ten years by new players. Music is maybe the most fertile environment for blockchain.”
The head of Asia & American Entertainment, ESKOH, as a part of eMusic, believes that the music industry can get rid of the payment issues that it has been facing since the past decades. He also believes that this platform can also help set up the careers of aspiring artists through crowdfunding; he states, “I also think eMusic is going to be useful as a crowdfunding platform to launch an artist’s career. When it comes to decentralizing the entire creative process, it’s interesting from financing and marketing standpoints.”
ABOUT SEAN KOH A.K.A ESKOH
Sean Koh, who is popular in fintech as an expert in cross-border transactions, is the owner of a diverse professional portfolio. He is not just an entrepreneur and a prominent entity in the financial world but also a singer, songwriter, and producer. He has released songs such as “Beautiful Lady,” “Do Rite,” and several others; he has produced music for Kpop star Jessica Jung. Being a tech-enthusiast, Sean Koh has helped artists such as Beyoncé, Britney Spears, Rihanna, Taylor Swift, and Jessica Jung better engage their fan base. At present, he is focusing on his tracks, “Dem Nuh Ready,” featuring Sean Paul, “Only Option,” and “Soon Come.”