My night with the Sex Pistols

Fifty years ago, the Sex Pistols shocked the establishment, generated salacious media headlines, shook up the music industry, and scared local authorities into banning their concerts. They were even celebrated as “Young Businessmen of the Year” for managing to extract large amounts of money from clueless/gutless record labels – these labels effectively paid the band to simply go away and leave them alone. I would recommend watching “The Filth and The Fury” documentary to get a better understanding of this startling episode in music history.

Unfortunately, the Sex Pistols imploded within two years – so I didn’t have a chance to see them in their heyday. But fast forward 20 years, and the band brought their Filthy Lucre tour to Japan. I was living in Hong Kong then, and thanks to my old mate and celebrated author, David Quantick, I ended up spending a night in Tokyo with the Sex Pistols.

At the time, David was a writer for leading UK music magazines, and he’d come to Japan to cover some live gigs. When I met him at his Tokyo hotel, his first words were: “We can either go and see this Welsh indie band, or we can see the Sex Pistols at Budokan.” With apologies to Super Furry Animals, it was no contest, and the Pistols won hands down.

The gig itself was mainly memorable for the sight of a crowd of Japanese fans singing along to “I am an anti-Christ, I am an anarchist” – many of them wouldn’t have been born when the Sex Pistols were in their prime.

After the show, we went to a back stage area, where a rather desultory “after party” was happening – a few beers in a cavernous loading bay. If I recall correctly, The Sex Pistols (minus John Lydon) made a brief appearance, but it was clear they didn’t really want to be there. We soon got word that there was an “after after party” being hosted in a venue “nearby”, so with address in hand, we went in search of further adventures.

Although I’d been to Tokyo before, I’d forgotten that distances within the megatropolis can be deceptive, and “nearby” was somewhat misleading. Also, street addresses in Japan can be very confusing for visitors, and it was obvious we were never going to find the location unaided. Thanks to our taxi driver and some friendly strangers, we made it to the venue, which turned out to be a subterranean night club, occupying several floors.

Before I knew it, I was sitting next to Sex Pistols bass player, Glen Matlock. Next to him were guitarist Steve Jones and drummer Paul Cook. (Lydon, not surprisingly, was a no-show). I got into a long conversation with Glen, mainly about the Filthy Lucre tour, and  also about the band’s “reunion”. I was curious how they got on, given the acrimony that had seen Glen leave the original band in early 1977.

I soon realised that the drinks kept appearing at our table, but the bar staff didn’t ask for payment – so we were drinking on the Sex Pistols’ tab (or the Japanese promoter’s). I wish I’d taken a photo of me sitting alongside the three band members (“for one night only, John Lydon was replaced by an unknown singer…”) but selfie culture was not a thing back then.

A few hours later, the band and their immediate entourage had left. The club manager came over and politely explained that from now on, we would have to pay for our own drinks. Similar Japanese reserve and restraint was on display the next day. I had crashed at David’s hotel room in the early hours of the morning, but he had to depart soon after dawn to catch his flight home. I slept on, but around 10am or 11am, the phone rang. It was the hotel reception politely but firmly suggesting I should vacate the room as soon as possible. I can’t imagine such tolerance and patience being shown in many other places.

Fast forward another 14 years, and I was walking along Melbourne’s Collins Street on my way to work. I spotted a vaguely familiar face having a coffee at a pavement cafe.

“Are you Glen Matlock?”

“Who wants to know?”

Having quickly established my bona fides (and Glen corrected me as to the exact date of our previous encounter), it turned out that he was in town as part of Robert Gordon’s  backing band – an almost surreal supergroup that not even AI could have dreamt up. The Robert Gordon gig that weekend at Richmond’s Corner Hotel was something of a frustrating experience. It felt like the singer was simply going through the motions – his performance was more showbiz posture, and less musical substance. Anyway, it’s nice to see that Glen has found a new home as a member of Blondie (and a reputation for being an amiable grand old man of rock).

Next week: My night with the Buzzcocks

 

 

 

 

 

 

 

Sakamoto – Coda and Muzak

Contemporary music documentaries tend to fall into one of two categories: the track-by-track “making of” account, in support of a new album; and the “behind the scenes” artifact of a live concert tour (often in support of that new album).* Both can be fine in their own way, but ultimately they are there to plug product. The recent documentary “Coda”, featuring Ryuichi Sakamoto clearly bucks that trend.As a recording artist, Sakamoto is one of the most prolific composers of his era. As a performer, he has maintained a regular schedule of live concerts and collaborations. That is until he was diagnosed with cancer a few years ago, and was forced to temporarily abandon his work. Fortunately, he has come through that recent health scare, even completing a major film score for “The Revenant” before he had fully recovered.

“Coda” started out as an account of Sakamoto’s anti-nuclear activism, but ended up providing an insight into his creative process, an examination of the role of sound and music in film, and a discourse on the aesthetics of minimalism.

There are two images in the film which provide a link between the “craft” of the composer and the “art” inherent in any form of creativity. The first is a close-up of Sakamoto’s working tools – the pencils he uses to write out his scores. The second is a shot of some immaculate cooking utensils – arranged in a similar fashion to his perfectly sharpened pencils. This is someone for whom both process and form serve the purpose of creativity, and which combine to determine the artistic outcome of the resulting content.

As a regular soundtrack composer, Sakamoto has been likened to a film-maker, although he is neither director nor cinematographer. He has an acute sense of the use of sound (not just music) in film, and in fact for his most recent album, “Async”, Sakamoto invited film-makers to submit short films to accompanying each of the tracks. An astounding 675 films were considered for the competition.

Ever sensitive to his environment, it was perhaps no surprise that Sakamoto chose to change the music played at one of his favourite restaurants, rather than eat elsewhere. And ever the non-egoist, none of the tracks on his restaurant playlist was his own.

The forthcoming performance by Sakamoto and long-time collaborator Alva Noto at the Melbourne International Arts Festival promises to be something special.

Next week: Revolving Doors At The Lodge

* An honourable exception in recent years was “The Go-Betweens: Right Here”

Beyond Blocks, Tokyo

Thanks to my work with Techemy and Brave New Coin, Content in Context is currently on the road, attending various Blockchain and crypto events in Tokyo, Vienna, NYC and Chicago. The next few blogs will attempt to capture notes from the field.

Techemy CEO, Fran Strajnar presents on the new asset class of digital value

In Tokyo, the Beyond Blocks Summit was a stellar affair, with marquee blockchain projects and major investors presenting on stage, alongside cosplay characters, light shows, upbeat music and a crowd of crypto fanatics.

Given the significant developments in Japan’s regulatory framework for crypto-currency trading, there was a lot of interest in the presentations by bitFlyer, Quoine and Smart Contract Inc.

As with the recent APAC Blockchain Conference in Melbourne, there was a strong representation from China’s growing base of Blockchain projects (but not ICOs, of course), keen to demonstrate their infrastructure projects.

There was much debate about regulatory developments across Asia, made all the more interesting by the announcement that Monex is acquiring Coincheck, despite (or because of?) the recent hack on NEM tokens held on the local exchange.

Among international key speakers were Patrick Byrne from Overstock and tZERO, John Burbank of Passport Capital, and Techemy’s own Fran Strajnar – all looking to the future of this new asset class, especially so-called security tokens.

Interspersed throughout the two days were panel discussions and presentations on scaling, infrastructure, decentralized exchanges, stable coins and the future of ICOs.

Although this was only their second event of this kind, the Beyond Blocks team have quickly established themselves on the conference circuit.

Next week: Token Investment Summit, Vienna

 

Bitcoin – Big In Japan

I spent the past week in Tokyo on behalf of Brave New Coin, meeting with various participants in the cryptocurrency industry – from exchanges to brokers, from industry bodies to information vendors, from connectivity providers to technology platforms. Given its share of Bitcoin trading volumes, and the legal developments currently in motion, Japan is now the focus of attention as it navigates towards a fully regulated and orderly cryptocurrency market.

Bitcoin is now accepted in Bic Camera stores in Japan (Photo: Rory Manchee – all rights reserved)

On my previous visit to Japan, I commented on the extent to which it was still a cash economy – even major museums and galleries don’t accept plastic, and my pre-paid foreign currency card issued by a major Australian bank was only accepted at a limited number of ATMs: 7-Eleven, and Japan Post. But according to expats I spoke to last week, this situation has changed over the past couple of years.

One of the reasons I was given as to why Japan is taking a lead in regulating cryptocurrencies is its previous perception of having a somewhat lax approach to money laundering. Part of this might be explained by the limited technical integration and interoperability with the global banking system (somewhat akin to Japan’s approach to telecoms, where in the past, it was impossible for overseas visitors to use their mobile phones on the domestic network).

In addition, as China has cracked down on most things crypto, so has Bitcoin trading activity shifted to Japan. This growth in Bitcoin trading volumes can also be linked to Japan’s passion for retail forex trading, now expanding into crypto.

Earlier this year, the Japanese government passed legislation that recognises bitcoin as a legal form of payment. (Note: this does not mean that bitcoin is legal tender – shops do not have to accept it; but if they choose to take it as payment for goods and services, then it is no different to paying in cash or by credit card when it comes to things like consumer rights, for example.)

Later this month, the main regulator, the FSA is expected to announce new regulations to govern cryptocurrency exchanges and brokers. Currently, exchanges that accept Yen deposits for cash trading of crypto must be licensed as payment institutions. By the end of March 2018, my understanding is that all exchanges and brokers must be fully licensed to operate – for both cash trading, and futures and margin trading. Anywhere between 20 and 50 exchanges have applied for a license.

Currently, participants in the “legacy” securities and futures industry are either registered with the JSDA or the FFA. Likewise, it is expected that the FSA will appoint a similar self-regulating entity to have official oversight of the cryptocurrency markets, under the overarching authority of the FSA. However, there are two rival blockchain and cryptocurrency industry associations that are vying for this role – which is where things become a little political. One group claims to represent the “pure” crypto world, whereas the other might be seen to represent more of the traditional market. No doubt the FSA would prefer not to have to choose…

Key considerations for the FSA are retail investor protection, and market stability. The total market cap of all cryptocurrencies is now around US$150bn. If we assume that 10% of these assets are held in Japan, when compared to the total capitalisation of the cryptocurrency exchanges themselves, this creates a significant risk for the FSA should there be a market collapse or a run on Yen-based crypto deposits.

Equally, the FSA does not want to stifle innovation in an area of financial services where Japan is keen to take the lead. For example, Japan has witnessed a couple of bitcoin-denominated corporate bonds (more like privately syndicated short-term commercial paper) that demonstrate an investor appetite for this new asset class.

Meanwhile, in preparation for this new regulatory environment, and in anticipation of the increased interest by major banks and asset managers, there is a project underway to create an institutional-strength order management platform connecting banks, brokers and exchanges. I also heard of offshore fund managers looking to launch a crypto-based ETF for distribution in Japan.

Finally, at the risk of blowing our own trumpet, Japan’s leading financial vendor, Quick is now quoting the Bitcoin Liquid Index (BLX) alongside other FX data it distributes from around the world:

 

NOTE: The comments above are made in a purely personal capacity, and do not purport to represent the views of Brave New Coin, its clients or any other organisations I work with. These comments are intended as opinion only and should not be construed as financial advice.

Next week: Tech, Travel and Tourism