Innovations in Blockchain Technology Discussed with Warren Buffet, Stefan Schulz, and Bitfury on the Music Podcast
In an insightful episode of the Innovating Music Podcast, Stefan Schulz, CEO and co-founder of Bitfury Surround, shared his vision for the future of the music industry. Schulz sees blockchain technology as a transformative force, particularly in unlocking the economic potential of intellectual property (IP) that remains largely untapped.
Schulz, with over 20 years of experience in the music industry, has been at the forefront of pioneering the use of technology for artists' benefit. He has designed and developed new business models around audio and video content, licenses for equity programs, and consumer platforms. His impressive clientele includes industry giants like Deutsche Telekom, Vodafone, Nokia, Verisign, Apple, NTT DoCoMo, Deezer, and Spotify, as well as globally known artists such as Nelly Furtado, Eminem, 50 Cent, Snoop Dogg, Rihanna, Snow Patrol, U2, Florence and the Machine, Gwen Stefani, Bon Jovi, Sting, and Andrea Bocelli.
Schulz's expertise, grounded in media, technology, and IP, highlights blockchain’s ability to provide a secure and transparent infrastructure for tracking ownership and usage rights. This technology supports building new, scalable business models that optimize the value of underutilized intangible assets—such as music rights—across the industry.
Blockchain can facilitate the creation of innovative financial instruments like regulated music bonds, enhance data ecosystems and collaborative commerce models, and support global rights holders, brands, and organizations in unlocking new revenue streams. In essence, blockchain allows the music industry to modernize and digitize rights infrastructure, making it easier to protect, license, and monetize music assets globally and efficiently.
The discussion revolved around the potential of blockchain technology for connecting content and data and creating new value chains for content. Bitfury Surround, the focus of the podcast episode, is a platform that aims to leverage blockchain technology to revolutionize the music industry.
Schulz explained why now is the time to decentralize the way we track ownership data. He emphasized that blockchain technology can unlock numerous opportunities, particularly in the music industry, where rights management has traditionally been complex and fraught with challenges.
In 2016, Schulz joined forces with Simon Fuller to create the first global pop group based entirely on social media and audience engagement. This venture showcases Schulz's forward-thinking approach and his commitment to leveraging technology to create innovative solutions in the music industry.
[1] This paragraph is a summary of the key points made by Schulz during the podcast episode.
Technology, with blockchain at its forefront, can facilitate the creation of innovative financial instruments like regulated music bonds in the entertainment industry. Schulz, an expert in media, technology, and intellectual property, sees blockchain as a transformative force, particularly in revolutionizing the music industry by providing a secure and transparent infrastructure for tracking ownership and usage rights, unlocking new revenue streams and optimizing the value of underutilized intangible assets like music rights.
