Spotify launching Tokenized Playlists Soon

We've talked about the tokenization of assets and services potentially on its way to replace most of the structures of the traditional system of business and finance, well, this might be happening faster than anyone thinks and it will be a rather more secure and efficient way for customers to engage with applications and services and also place businesses on better grounds to build and grow.

Spotify is testing out tokenized playlists which will only be available to Android users from the United States, United Kingdom, Germany, Australia, and New Zealand. The work in process is deploying a new system where users can purchase curated playlists as NFTs.

There aren't much details on what's actually in store, that's looking at the possibility of any long term commitment from Spotify to rewards users and any far beyond playlist access for those that will own this NFTs, however, we can look past that for now as it really isn't the important thing here, what's more to this is that "tokenization" is slowly becoming the new way to go. This is positioned to replace points systems, NFTs are most likely going to replace gift cards and many other structures.

The Security Involved In Tokenization

One of the things largely overlooked by individuals is the security that comes with blockchain technology, that's looking at this from an angle of building payment for services and goods on top of a blockchain network, this allows far more security than Visa or Master cards, with a network like Hive, we are looking at high speed, feeless and secured transactions.

With time, we should see these businesses begin to accept crypto as a means of payment, allowing users to set up recurring transfers that do not threaten their assets security and most definitely doesn't put the service in a situation to worry about failed transactions that doesn't show up in the system, the blockchain handles this and there's far better ways to identify the problems and deploy solutions.

Even though majority of the early services built on these centralized companies that leverages blockchain technology in one way or the other is more focused on draining value from the ecosystem, overtime, they will realize that the value of a transaction isn't only about who is receiving it at the end, because every transaction on a blockchain adds value to the ecosystem and people are being rewarded for every successful transaction included in the blocks.

This allows the ecosystem to enjoy far greater distribution of value and it also adds to markets, making it active and stronger. So while these companies may believe they are milking the system, they are really just placing more utilities to the network, making it more secure and more valuable.

Of course, this is something most of them don't understand as the centralized finance walls do not value transactions as much as blockchain does. This is because on a centralized network, a transaction is merely not as important, but on a blockchain, every piece of the transaction is hugely important to the network because every textual content and tokenized pieces of it adds to the integrity of the network.

Blockchain is moving at a quite appreciative pace, what's there to stop what's already a system of building more value into products and services? Nothing I'd say.

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