Blockchain for music royalties and licencing

Copyright law dates back to 1710 when, in the UK, the Statute of Anne legislation was passed. However, it was not until the Berne Convention in 1886 that there was any global recognition of copyrights. The revenue generated from music royalties worldwide is now in excess of €10billion, with the three largest markets being the US, France and the UK. The means by which income from music royalties is generated is changing as we witness an increasing amount of music being listened to via both streaming services and digitally. Blockchain-powered platforms can help meet the challenges of those hackers and listeners who avoid paying royalties to artists by creating a record, or, as some call it, a "digital ledger". Every transaction in this ledger is validated and protected from tampering by the owner's digital signature and furthermore, the digital ledger is securely held using cryptographic technology although, curiously, anyone can see the data, but they cannot change it.

Source: X (Twitte…