"I'm Going to Watch It Growing." Peter Gabriel Invests in Blockchain
When famous singer Peter Gabriel first sang, “I'm on my way, I'm making it” in 1986, his first thought may not have been blockchain technology more than three decades later. However, it would seem now that what he considers “so much larger than life” as his song Big Time (see below) says is exactly that, as he is now funding British tech startup Provenance.
Provenance was one of the early leaders to track products along a supply chain on the blockchain. They are now looking to implement blockchain on over 1,000 food and drinks businesses by 2025, and set a new standard for consumer trust in food.
According to a press release of the startup, Peter Gabriel said, “We need to be able to trust the source and distribution chain, particularly when it comes to guaranteeing that things are produced ethically and in an ecologically sound way.”
Bringing in musicians to boost the popularity of a tech startup is not unheard of. And this article is the proof that it works. While focusing on the singer, the press release also mentions that Provenance has secured additional funding from its existing group of investors, led by Working Capital Fund, including Digital Currency Group, Merian Ventures and Plug and Play, as well. No further details about the funding were given.
However, Peter Gabriel is not the only musician making into blockchain news these days. Imogen Heap, two-time Grammy Award winning musician, has launched a digital licensing and distribution platform built on a smart-contract blockchain platform. Mycelia for Music is a management suite for musicians as well as an ecosystem which allows for musicians to manage their works on a decentralized platform. It tracks the history of an artist’s work with new mechanisms for online music purchases and streaming.
It seems to be only a matter of time until we get a song about the blockchain, at this point - or are we already there?