Abstract
Private and permissioned blockchains are conceptualized and mostly assembled for fulfilling corporations’ demands and needs in the context of their own premises. This paper presents a complete and sophisticated end-to-end permissioned blockchain application for governance and management of musical rights endorsed by smart contract development. In a music industry use case, this disclosed solution monitors and regulates conflicting musical rights of diverse entities under a popular permissioned distributed ledger technology network. The proposed implementation couples various and distinct business domains across the music industry organizations and non-profit blockchain associations.
Highlights
The music industry struggles from some deeply ingrained pains linked to copyrights management and royalty allocation that have only been reinforced by the digital revolution and the emergence of the streaming era
The current work presented in this paper successfully combines blockchain and smart contracts with rights management, in order to introduce a novel decentralized framework that contributes to the solution of the specific issue faced by the music industry actors and the collective management organizations (CMOs) in particular
Exploiting fundamental blockchain principles such as transparency, trust, traceability and decentralization, an effective approach to solve existing issues faced by CMOs is presented
Summary
The music industry struggles from some deeply ingrained pains linked to copyrights management and royalty allocation that have only been reinforced by the digital revolution and the emergence of the streaming era. Apart from technical limitations and constraints, the adoption of blockchain technology for the copyrights domain might cause legal implications, mainly related to where the digital content itself is stored; it could be stored either on-chain, alongside metadata about ownership and transactions, or off-chain [17]. When it comes to the music industry, various blockchain-based implementations of copyrights management can be found in the literature, which intend to improve the accuracy and availability of copyright data and to make music careers more sustainable [18]. The proposed solution includes the identification of possible conflicts caused by multiple copyright claims regarding the same music asset, while its incentive monetary mechanism tries to prevent the abusive behavior related to claims submission and to minimize those conflicts
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