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How Blockchain Can Protect a Musician ’ s Intellectual Property
By Raine Maida
Musicians have always struggled with the concept of intellectual property ( IP ); I ’ ve never copyrighted a song in my life . Fortunately , I ’ ve had record labels , publishers , and management register my work over the years and protect the ideas in case of theft . This is a luxury that is less relevant in the new creator economy and the longer you ’ re in the business , the better the chance you ’ re going to have an idea ripped off . We ’ ve become victim to the power of social platforms like Twitch , YouTube , and TikTok , who ’ ve convinced us to share our ideas for free ; except that clout and followers rarely – if ever – pay the bills . This is why today , more than ever , it is critical that artists understand the importance of owning and managing their intellectual property . Technology has finally caught up , enabling a new generation of talent to capitalize , sooner , on their assets , as well as create real sustainable income through direct royalties on future sales .
Blockchain is Here The blockchain is the easiest and most costeffective solution for any musician to protect and monetize work . Developed as a means of tracking , verifying , and securing the exchange of cryptocurrency transactions , blockchain software acts as a digital ledger that encodes information with a unique hash to ensure authenticity . Given the sorts of shenanigans prevalent online , exchanged bitcoin could easily end up being sold twice in the same transaction , sold without changing hands , or make its way into some enterprising individual ’ s account between buyer and seller . If blockchain can provide stability in the wild west of cryptocurrency , just think what it could do for a musician ’ s IP .
Security at Every Step The true strength of blockchain for musicians is protection at every step ; from the very first writing session to uploading completed masters , as long as the blockchain is used as the medium for saving , the asset is safe from beginning to end . This allows musicians to establish the rights to files , pre-emptively , rather than having to go on the defence when opportunistic individuals claim ownership against the person who created it . Blockchain provides traceable , verifiable proof of each moment of the creative process , not just on the musician ’ s computer but on those of everyone involved : from collaborators to the record label . When it comes time to prove a file was originally created by the musician , both the contract and the initial creative steps are all accounted for on the blockchain .
Tracking Ownership As a means of ownership tracking , blockchain remains useful to musicians well after the creative process is finished . This won ’ t come as much of a shock , but it ’ s often hard to determine where a piece of work first originated online . Try picking your favourite meme , for example , and find not just the first instance of the meme , but the original poster who created it before it went viral . Likewise , a piece of art or music could make its way around on the net and become a huge hit , for which the original creator gets no credit or profits — just ask one of the many TikTok dancers whose original moves show up as microtransactions in Fortnite .
Now creators can set up blockchain as an IP registry to declare their IP once and for all , so that anyone who posts or attempts to profit from their ideas cannot disassociate those ideas from their original source . An IP registry can establish a trackable chain of ownership and licensing that nobody can dispute or disprove , making sure that credit remains with the original author or anyone to whom they legitimately sold the limited or full rights to their labours . In the future , IP registries could even reduce the time it takes to establish a patent , as proof of the original idea can be easily tracked down and verified on the blockchain .
Smart Contracts Finally , blockchain also enables the creation of smart contracts . It goes without saying that a secure and transparent format like blockchain is great for regular contracts , but a smart contract allows creators to set their terms for licensing agreements and verify that such deals are being enforced . With a smart contract , end users could license work directly from the creator , cutting out the middleman and helping musicians sell directly to the public . Collaborators could even use smart contracts to apportion licensing and compensation rights based on contribution , and to automatically split profits from all sales without dispute .
Blockchain has evolved into more than just a home for various cryptocurrencies – we see you , Elon – it can now easily provide incredible benefits across hundreds of industries and verticals . For musicians , securing original work is as vital as a bitcoin trader authenticating their exchanges . By adopting this cutting-edge new technology , musicians can ensure that they control their destinies and their art .
Raine Maida is the chief product officer of S ! NG , Inc ., in addition to a four-time Juno Awardwinning artist as the frontman for the the multiplatinum-selling alt rock band Our Lady Peace . He has written and produced hits for internationallyacclaimed artists including Carrie Underwood , P ! nk , and Avril Lavigne . Raine is also the co-founder and director of artist-fronted cannabis company LoopPool . He was awarded the Tiffany Mark Award in 2014 and appointed to the Order of Canada in 2016 for his humanitarian work .
28 CANADIAN MUSICIAN