What a Blockchain for Music Really Means

music_splitsBlockchain technology is what enables Bitcoin to allow financial exchange without a middleman. It is effectively a decentralized database where participants follow a protocol to record the ownership of tokens of value and their exchange, without the need for a central entity like a bank to provide trust.

An imaginative person will jump to extend the metaphors of such a system to other domains, and of course to the music industry. A music blockchain would be a single place to publish all information about who made what song, without having to trust a third-party organization.

However, before contemplating such a solution, it is important to distinguish between two distinct but often conflated problems in the music industry—because one must be solved before the other.

Source: Mine Labs

Get the latest RightsTech news and analysis delivered directly in your inbox every week
We respect your privacy.