Blockchain Development to Prevent Music Piracy

Three societies dedicated at protecting the intellectual property rights of musicians, writers and other content creators, such as: American Society of Composers, Authors and Publishers, The Society of Authors, Composers and Music Editors; And PRS for Music have teamed up to develop a Blockchain solution to prevent piracy. This project will be developed by Hyperledger Fabric, and managed by IBM, this platform will be designed with the tangible intention of creating a connection between the time in which the content is created and the time consumed.

The joint project has the potential to help prevent online piracy by tracking more sophisticated data on music content in the blockchain. However, the new generation concerns arise over compensations of musicians and composers, but to solve this the Blockchain that is being developed will have the potential to help artists according to the rights granted by contracting companies. Robert Ashcroft, PRS For Music executive director, explained in a press release how real-time information on digital content consumption can empower a diverse set of stakeholders and drive new business models.

Robert Ashcroft said:

“If blockchain can help us achieve this, it will unlock opportunities for developers of new digital applications, increase accuracy of royalty payments and release value for rightsholders.”

Like the Blockchain consortium in other industries, the aim of this joint music initiative is to create and adopt a shared and decentralized database that streamlines the data flow. However, unlike these consortiums, the information the group wants to follow is metadata about artwork with real-time updates and more advanced tracking capabilities. Although it still in the early stages of development, improved capacity to track ownership of legally protected creative works could eventually help confirm the legal owner of a work and the origin of the works in dispute.

Image: pixabay

Source: coindesk

Disclaimer: InfoCoin is not affiliated with any of the companies mentioned in this article and is not responsible for their products and/or services. This press release is for informational purposes only. Information does not constitute an investment advice or an offer to invest.

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