Blockchain Revolution

Digital Rights Management, that is, a means of managing digital rights, not the
anticonsumer DRM software wrapper that was all about restricting usage. We’re
talking about the deployment of smart contracts that actually manage rights and
maximize the value of publishing, recording, performance, merchandise, and all other
rights. This includes terms of third-party engagement for record labels and
distribution services: labels and distributors could decide whether to opt into an
artist’s terms of use and expectations for service. If artists don’t want advertising to

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interrupt the music experience, then they can forbid it. If they want a certain cut of ad
revenue, then they can insist on it. If they want one of these large firms to handle
licensing, distribution, and copyright enforcement in certain territories such as China,
then they can do that. They can also set term limits. If the firms don’t deliver a certain
level of revenue, then the contracts can automatically terminate. Artists also need
automated subsidiary rights management, wherever possible or desired, where
prospective licensees either accept or reject the artist’s terms of use and payment. The
contract itself enforces each deal and can notify the artist of any breaches and
terminations.