Three-party circulation platform: block chain perfect to solve the music industry pain Point

Source: Internet
Author: User

Music is pure, dances with the soul, and resonates with the mind. But the music is not pure enough, through the block chain to solve the industry pain point, has been tried. The most beautiful April days of the world, the style of music will become more beautiful.

  

Question one:

Address the issue of music royalties.

Because of the prolonged lack of transparency in the music industry and the opaque boundaries of musicians ' rights, the initial estimate is that there are 2.5 billion of dollars of music royalties each year.

Solution:

Using the distributed data and intelligent contract of the block chain, record and implement all information can not be tampered with, can not delete, open the traditional music industry in the black boxes, so that the rights and interests of all participants transparent, and the operation of the process and the subsequent production of all copyright-related proceeds according to the rules assigned to the creators, producers.

Distributed storage: A hash value is generated based on the contents of a file, which is the only name of the file. and files will be broken, distributed storage on many nodes, when reading, all nodes can react simultaneously, so read very fast. Because each node has fragments, can not keep data or leaks, is the file will be permanent, the data is naturally more secure, unless you erase the contents of all nodes. This is the best way to store copyright protection for music right now.

Intelligent contracts: Based on intelligent contracts, data can reach the target audience, and are automatically executed according to pre-set rules. Reduces complexity, saves time, and simplifies individual roles in the ecosystem.

  

Question two:

Solve economic problems such as profit and value conversion of different participants.

In the music ecosystem, a stable "food chain" has long been established: issue a song to go through at least three links------songwriter Copyright agent, music platform, record company, then a singer to get due remuneration, the first to pass through these three links, the last left to the singer is only a small part of the cake.

Solution:

Using the distributed ledger and intelligent contract of block chain technology, the paper creates a database of music rights based on transparency, so that all the characters can be stimulated accordingly:

1, music producers, artists, arranger and users, in the creation or distribution process can obtain a certain way of reward.

2, fans in the spread of music, listening, to obtain a certain reward.

Summary

Music copyright market is huge, the current system has great problems, inefficient distribution uneven. Through block chain, create brand-new music copyright database, music royalty accounting model, use incentive system to reward participants, hopefully solve the problem of copyright protection and profit distribution of the whole music industry for a long time.

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