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An onchain music streaming platform utilizing blockchain technology offers a new and innovative solution for secure content distribution and fair music rights management. By leveraging the power of blockchain, this platform can provide a transparent and tamper-proof system for music rights management and payment distribution.
In traditional music streaming services, there are often disputes between artists, record labels, and distributors over the fair distribution of royalties. This is because the process of tracking and distributing royalties can be complex, and it is difficult to ensure that all parties receive their fair share. Additionally, content distribution can be vulnerable to piracy and unauthorized use, which can result in lost revenue for the artists and rights holders.
With an onchain music streaming platform, content distribution and rights management can be secured through the use of blockchain technology. Blockchain provides a decentralized ledger that is resistant to tampering and provides a transparent record of all transactions. This means that all parties involved in the music streaming process can have confidence that the system is fair and trustworthy.
Furthermore, this platform can incorporate an onchain license protocol for fair music rights management. This protocol can automatically track the usage and distribution of music content and ensure that all parties receive their fair share of royalties (* wip). This can eliminate the need for intermediaries and reduce the risk of disputes over royalty payments (* wip).
Video Link: https://www.youtube.com/watch?v=Zb86muK45EI