BitShares Forum
Other => Graveyard => Muse/SoundDAC => Topic started by: openledger on January 25, 2016, 10:19:23 am
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Fintech platform OpenLedger and Danish bitcoin exchange CCEDK are joining forces with music-tailored blockchain MUSE to make monetising music as easy as new peer-to-peer platforms made distributing it 15 years ago.
Just as music distribution was ripe for disruption in the early 2000s, with the rise of peer-to-peer file-sharing platforms, so blockchain technology is offering new opportunities for its monetisation.
The MUSE platform is a brand-new third-generation blockchain based on the Graphene Toolkit and specifically tailored to meet the music industry’s needs. It can be viewed as a membership organisation in the cloud that acts as a global database for copyright-related information. It is designed for all music-related payments – including royalties, music sales, merchandise and concert ticket sales. Now, OpenLedger is adding yet another project to its growing list, thanks to a new partnership with MUSE.
Smart contracts
MUSE’s smart contract capabilities means that licensing music is suddenly vastly easier. Basic data such as song title, performing artist, ISRC code, master recording copyright owner, etc, can be saved to the blockchain, creating a public database for music-related information. The Automatic Royalty Payment Splitter can be used to set down the rules for when specific payments are received. If a song is streamed in one country, payments might divided between one label and various individuals; if it’s streamed in another country, another label and individuals might benefit. Complex in the real world, with MUSE this all takes place with full transparency and every party involved is paid instantly. Users can also input licensing conditions, attaching them to the smart contract for each song – enforcing different fees for using a song for a TV commercial, movie trailer, and Hollywood production, for example.
more in below link:
https://bitscan.com/articles/openledger-and-muse-bring-blockchain-benefits-to-music-industry
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cool
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Two questions.
1. How does the collab of Openledger and MUSE work? I thought Openledger and Muse are two separate blockchains.
2. What if songs are already registered on performance rights organizations? Are you able to add the songs on Peertracks?
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Two questions.
1. How does the collab of Openledger and MUSE work? I thought Openledger and Muse are two separate blockchains.
BitShares and MUSE are two separate blockchains.
OpenLedger is a business that builds ontop of blockchain(s). Not
necessarily just one of them .. it can build business on several
blockchains