Blockchain technology has the potential to save the creative industries, including the music industry, by revolutionizing rights management and royalty distribution through an ecosystem that processes and exchanges data and assets in a decentralized manner.
streaming and digital content enjoyment generate millions of micro-transactions per day
The introduction of blockchain and, in particular, the application of Smart Contracts can be particularly revolutionary for the music industry, insofar as they can support the automatic management of royalty payments to artists and other owners who claim shares in the revenue from each song.
Smart Contracts, in fact, can make possible the division of revenue percentages and the distribution of cash flows automatically among rights holders and at a time almost simultaneous with the listening, downloading, or purchase of the music content.