Blockchain Revolution

Micrometering, Micromonetizing functionality to stream the revenues, not just
the music. If the music were metered, where consumers made micro- or picopayments
per play, the royalty payments could be streamed immediately to the artists and
contributors. No more payment delays, no more biannual or quarterly royalty checks,
no more cryptic royalty statements. No more hand-to-mouth artists! Blockchain
theorist Andreas Antonopoulos gave this example: “Streamium in Argentina is a
streaming video service. It allows video producers to charge thousandths of a penny
for downloading, say, two hundred milliseconds of live streaming video. It uses
multisig[nature], time-locked transactions, atomicity, and sum integrity to implement
its scheme. Producers deliver only the video that has actually been paid for, and
consumers pay for only the video actually consumed. They automatically renegotiate
that contract five times a second. If either of them drops out at any point in time, the
contract ends and they cash in the most advantageous transaction between them.”
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Rich Databases that can interface with one another and associate the core
copyrighted material—lyrics, composition, and recordings—with all their metadata,
the liner notes, the artwork and photographs, the individual tracks, the rights that the
composer and the performer are willing to license, the terms of licensing, contact
information, and so forth—in the digital ledger for all to see. No more incomplete
databases of rights. Rights availability at your fingertips! Rights holders would be
easy to find.