Today’s rights systems are
out of step with the times..
This is a photograph of a musician working on a music track, on a train in London. This is the reality of independent music creation today. Securing the ownership rights for this track should be a routine and simple process, available to all content creators.
Why the world needs an Open Rights Portal
The world needs a universal simple rights (proof of ownership) platform for content producers, as the basis for new commercial trading models that are based on the primary rights of Artists, before 3rd parties like Publishing Companies and Record Labels get involved. The legal basis for this is very clear. Artists and content creators are ‘Primary Publishers’. This is a very important issue to understand.
We don’t think that becoming another proprietary blockchain is the best strategic outcome for Bittunes, or for our vision of a global blockchain for music and/or user generated content. Most companies in this space are creating individual blockchains and token systems or separate tokens for each artist. We think that these type of systems would lose in the end to a new system that is built on an open non-proprietary platform.
We think that Bittunes has a unique opportunity to create such a platform, using the Creative Commons Licensing system, and kick start its usage, by paying rents to it, as part of the commercial operations of Bittunes going forward.
The Rights Portal must be Independent
The ‘Rights Portal’ will be a non-profit organisation to manage a global blockchain for music. However, it is not only based on Blockchain technology, as it will include a distributed storage component for the storage of dynamic meta information pertaining to Blockchain records. Operationally, it should be completely separate from Bittunes, and have open API’s to enable other Org’s to use it’s core features.
A) When a file is submitted to the system, a hash of that music file is created and a record of that hash is lodged into the Blockchain, creating a unique record and blockchain address for that hashed music file.
B) The music file is then reprocessed and an audio watermark containing the Blockchain ID and Address is embedded into the file.
C) The Distributed Storage component is where the ownership data is stored, being the identity of the person who has uploaded the music file.
Bittunes 2.0 would then be in a prime position to go to market with its own unique micro-earnings and ‘Proof of Traction’ systems, with first mover status on this platform. And the open platform would be far more likely to receive much wider acceptance from Org’s like Creative Commons, Indie Labels and Artists generally.
Bittunes is honored to have the support of a number of distinguished industry luminaries on our Advisory Board.
Managing Partner of Network Society Ventures, a New York based Venture Capital Firm
Economist, Speaker, Crypto Researcher and Founding Chairman of the Bitcoin Foundation
Director and founder of the P2P Foundation, he lectures internationally on P2P theory
Thomas Vander Wal
Information Scientist, Internet Technology Consultant, famous for coining the term Folksonomy
Former CTO with Ericsson (NASDAQ: ERIC), Blockchain Advisor, Crypto Currency Investor
Music Industry Veteran, Promoter, Former Chairman of Grokster P2P File sharing Application
If you have any questions about the Independent Rights Portal or would just like to leave us a message, feel free to contact us.