Ditto Music, a worldwide online music distributor, is launching a new publishing division on top of a blockchain-based music solution that should increase how much money artists are making on streaming platforms like Spotify, Apple Music, and more.
They’ll be calling the project Bluebox, and it will take advantage of the blockchain to automatically record information such as the artist, songwriter, etcetera. From there, those loading music onto a platform can automatically and instantaneously put in their copyright, publishing, and other rights onto the platform via smart contracts.
From there, it will be able to automatically distribute royalties and other payments based on accurate streams via the same technology.
Speaking on the matter to Billboard is Lee Parsons, the CEO of Ditto:
“A lot of people in the blockchain space are trying to find a problem and then trying to come up with a solution based on that. The main difference with Bluebox is that we have a huge database of artists that we are going to be putting straight onto the blockchain. We’re not building a product and then trying to find a use for it.”
The goal here is to streamline the organization of accurate views and streams and ensure that artists are getting paid their fair share rather than getting mistreated due to false royalty reports. This includes paying the wrong artist as well, which happens somewhat frequently.
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