Blockchain Revolution

Auction/Dynamic Pricing Mechanisms to experiment with promotions and
versioning of content, even peg subsidiary rights royalty percentages to the demand of
a song. For example, if consumer downloads of a song spike, then an advertiser who
licensed that song for a commercial automatically has to pay more when the
commercial runs.
Reputation System that culls data from a bitcoin address’s transaction history
and social media, to create a reputation score for that address. Artists will be able to
establish their own credibility as well as that of prospective partners in deal making,
whether among artists as collaborators or between artists and consumers, labels,
merchants, advertisers, sponsors, licensees, and so forth. Using multisig smart
contracts, artists could refrain from doing deals with entities that don’t meet certain
reputational standards or don’t have necessary funding in their accounts.
The key point of this new fair music industry is that the artists are at the center of
their own ecosystem, not at the edges of many others. “I see a place for Spotify and
YouTube. I see a place for curation, and I see a place for user-generated content,” said
Heap. “I see a place for record companies because we still need people to sift through
the hundreds of millions of hours of music, or billions of bits of music and art all over
the planet being created every day.”
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With software templates, they can engage
creative collaborators, the big music labels, the big distributors, and the many smaller
intermediaries as they see fit on the blockchain.