There are different things out there that have the power to bring people together, and music is one of them. Music is an art that is subjective and powerful; it has a way of calming nerves and restoring hope. Interestingly, music comes in different forms, and the best minds create the best music. Music has different use cases, and so does cryptocurrency; when you combine both, you will have peace and harmony. A music school in Scotland likes the sound of that…
The Morningside School Of Music
In a recent development, the Morningside School of Music announced its decision to make crypto payments available to students. This came after the students suggested that the school should consider crypto payments. An interesting part of this is that many of the students are part of Edinburgh’s growing FinTech community.
According to Linda Boyd, the music school’s director, the school had used BTC to make payments in times past. She added that the system made payments much faster than traditional methods of exchange. Linda believes in the digital asset infrastructure and wants students to enjoy the seamlessness of crypto payments.
Morningside has been around since 1999 and is said to offer some of the finest music education. Music enthusiasts join Morningside to take advantage of preeminent teachers that include professors, doctors of music, musicologists, international session musicians, musical directors, and many others.
Fintech In Edinburgh
According to a report by Fintech Scotland, Edinburgh’s FinTech adoption rate has increased unprecedentedly between 2019 and now. The tech company that is in partnership with Edinburgh University recently got a $30.9 million grant. The grant will help the company further propagate the implementation of FinTech in different parts of Edinburgh.
For the music school, the acceptance of crypto payments is the school’s move to align with the growing trend in crypto adoption. Linda Boyd believes that crypto is going nowhere and will become a mainstream way to facilitate payments around the globe.
Crypto And The Music Industry
Aside from the music school accepting crypto payments, there are several use cases of crypto and blockchain in music. For instance, the integration of blockchain can help deal with intellectual property (IP) thefts. It can help with licensing, and it can also take away the unnecessary interference by 3rd parties in music marketing.
At the moment there are several blockchain-based music companies in different parts of the world, including:
- MediaChain
- Choon
- Ujo
- Open Music Initiative
- Mycelia
- Musicoin
The creative arts industry is adopting cryptocurrency and blockchain rapidly, and that is positive news for the crypto community.
It looks like no industry wants to be left behind in the adoption of cryptocurrency and blockchain. There are many use cases, and they permeate different industries and sectors. Mainstream adoption of crypto payments is happening faster than anticipated, and perhaps we have the pandemic to thank for that. Now, more crypto merchants have joined the community, and a lot of online stores are finding ways to monetize around the growing interest in digital assets.
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