Blockchain Revolution

Digital Rights Management, that is, a means of managing digital rights, not the anticonsumer DRM software wrapper that was all about restricting usage. We’re talking about the deployment of smart contracts that actually manage rights and maximize the value of publishing, recording, performance, merchandise, and all other rights. This includes terms of third-party engagement for record labels and distribution services: labels and distributors could decide whether to opt into an artist’s terms of use and expectations for service. If artists don’t want advertising to

interrupt the music experience, then they can forbid it. If they want a certain cut of ad revenue, then they can insist on it. If they want one of these large firms to handle licensing, distribution, and copyright enforcement in certain territories such as China, then they can do that. They can also set term limits. If the firms don’t deliver a certain level of revenue, then the contracts can automatically terminate. Artists also need automated subsidiary rights management, wherever possible or desired, where prospective licensees either accept or reject the artist’s terms of use and payment. The contract itself enforces each deal and can notify the artist of any breaches and terminations.