Blockchain Solutions for DRM (Digital Rights Management)
July 19, 2018
When someone creates a piece of art (music, art, film) it needs to get copyrighted for them to be able to claim it as their own. For digital media, this process is called DRM (Digital Rights Management) and the current process is broken and not very transparent. There are many people involved in the completion of a song and it is very hard to determine who gets what percentage of the profits as well as the rights to the data they acquire. Implementing Blockchain will be solving multiple problems at once while helping artists further connect with their fans. For more information on Blockchain basics and how it is not just cryptocurrencies please read this article…
First of all, the copywriting process will be immensely simpler and also more secure (even Spotify started utilizing Blockchain to make sure they properly pay the artist royalties). Since everything on Blockchain is time stamped and temper-proof, when someone uploads their work on a Blockchain platform, it will get copyrighted which they can use as proof of ownership. Yes, this wouldn’t stop people from infringing art but if the copyright owner goes after them, they would have solid evidence that it is theirs.
For more information on how Blockchain can improve upcoming technologies please read this article…
Furthermore, there is very little transparency in the music industry. There is a whole chain of musicians, writers, managers, publishing companies etc. involved in a song creation, and they all keep their data to themselves. Since they’re not required to share it, they just don’t and the data stays in centralized silos. With Blockchain, all the data will be accessible and will help artist better understand the finances that happen behind the scenes. This will give them good insights on how to turn their music into a lucrative business.
Beyond improving the copyrighting process and the transparency in the music industry, Blockchain can completely revolutionize how artists connect with their fans and get paid. Record companies are the ones that provide the capital, to eventually have an artist make them ten times the money they invest. To make this happen they take more than half of the revenue, and also impose limitations on an artist so they don’t get off track. With Blockchain, artist will have the ability to market themselves without the need of a middle man, and also connect with fans the way they want to. Artist will be doing all the work, and collecting all the revenue. It will also give more incentive for people to pay for music again, since what they per for will be going directly to the artist, instead of intermediaries.
To learn more about Quantaloop and the revolutionary power of Blockchain, please visit quantaloop.io