Daniele Sestagalli is a consultant on all things blockchain. Having first immersed himself in crypto and Bitcoin in 2011, he’s tried to be on board with every initiative that seemed to be disruptive and cool since, not just as a consultant, but also as an investor.
He’s currently Chief Strategy Officer at Utopia Genesis Foundation, a Switzerland-based company aiming to create a blockchain framework for everyone working in music. It’s a bold ambition, and one that other companies have embarked upon – and failed at – in the past.
Still, utilizing the efficiency, transparency, security and decentralized nature of blockchain and crypto technology to make the music industry better, remains an appealing idea. Pollstar reached out to Sestagalli to find out what Utopia Genesis aims to do differently, and what his vision for the music business of the future looks like.
Pollstar: What is crypto and why are tokens so important?
Daniele Sestagalli: Financial markets work in efficiency. When you find an asset, any type of asset class, that’s currently inefficient, and you make it efficient for example by making it liquid, then you’re gaining value.
There is a lot of inefficiency in the music industry, for example in the case of music rights, which can be made liquid as a token on the blockchain. The token represents the catalogue of an artist and its copyrights and brings it to market.