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Ripple is now officially diving into the music world after backing a Santa Monica based startup named Raised In Space Enterprises. The startup hopes to help founders in creating different solutions for the music industry and we are about to find out more in the latest altcoin news.

Ripple invested via its initiative Xpring and wants to use blockchain technology and cryptocurrency and revolutionize the music industry. Xpring aims to connect the entrepreneurs with XRP.

Raised in Space Enterprises is based in Santa Monica, California. The music company was founded by Zach Katz who is a popular music entrepreneur and the goal of the company is to fund the music space and boost the creation, distribution, ticketing, and touring projects. The SVP’s of Ripple’s Xpring Ethan Beard said:

 “We’re excited about blockchain’s potential to solve problems in the entertainment space – from new ways to monetize creative content to innovative fan engagement models that were not previously possible. Xpring is about empowering the best entrepreneurs to apply technologies like the XRP Ledger in new and novel ways, Raised In Space is an extension of that effort, and we couldn’t ask for better partners than Zach, Scooter and Shara. Forming the company is an important first step, now we’re excited to see how the entrepreneurs they back will build new solutions that can reshape the music industry.”

It is a good idea to revolutionize the music industry with the help of blockchain. We are about to see how Ripple changes another industry after creating a hard competition with SWIFT and the banking industry.

Other cryptocurrencies such as TRON have already taken charge of the peer-to-peer exchanging of Media after the partnership with BitTorrent. There is a huge chance for a massive change in the entire entertainment industry with the use of cryptocurrencies.