The transparent database could be a way for musicians to hold others accountable.
An extortionist demands Radiohead cough up big cash after stealing 18 hours of unreleased music, forcing the band to release it themselves. A well-known fashion chain allegedly rips a Harvey Sutherland track with no approval, license or credit – a stupid mistake when the artist is a music lawyer. And local heroes Tame Impala file a lawsuit over an estimated $500,000 – $1,000,000 dollars in missing royalties.
Musicians have been battling with issues surrounding music piracy, music rights and distribution of music royalties for yonks. In 2018, it was estimated that a devastating 12 per cent of music revenue made in the music industry was given directly to musicians.
Streaming services seem to be here to stay, with musicians making mere cents off their own music – distributed between crews, producers, sound engineers, record companies and other collaborators. Technology has improved for the listeners of music, but what about the creators? It’s 2019 – surely there’s a solution to this headache of inequality.
Enter front left, the blockchain – a transparent and secure database holding transactions and records without the need for a middleman. The technology shook the world when it innovated Bitcoin – the first decentralised currency in history. No third party is required or can interfere with a transaction. This means artists could see more equality and fairness in the industry than before.
Firstly, the decentralised ‘digital chain’ can become a more efficient way to release music, establishing a direct relationship between artist and listener. Instead of relying on publishers, distributors and other third-party providers, the consumer purchases music directly. The transaction is immediate, as only the consumer and seller are connected. And artists can see income sooner, meaning they can focus more on their music and less on the money needed to survive.
Secondly, blockchain is transparent. Each ‘block’ on the chain stores metadata containing ownership, royalties and rights information which can be verified. So, debates over who owns rights can be cleared up very quickly. Artists and collaborators can be paid fairly and timely as soon as music is purchased.
Thirdly, the technology can help reduce music piracy – a burden costing artists billions of dollars each year. Through powerful cryptography, artists can protect their work against infringement using secure ‘keys’ on the blockchain, making it virtually impossible to hack.
But these solutions are not perfect. Blockchain can’t completely eradicate piracy, existing platforms – like Imogen Heap’s MyCelia or Bruno Guez’s Revelator – can’t communicate to each other just yet, and some governments will still need to accept the technology as a legal way of showing ownership.
However, blockchain is a big step in the right direction. It’s part of a larger initiative of developing technology for a crucial industry that has long struggled with rights.
