Cédric Cobban @cob and his team will be responsible for a revolution in the music industry. "How so?" you ask. Well to start with their Muse Blockchain will allow for a "single location to input all of your copyright information. Where every participant in a song (both the master recording side and the composition/publishing side) can build off of the data, creating a rich, transparent, trustworthy and constantly updating database. Businesses worldwide, from streaming platforms to music retail websites, will know exactly which copyright holders to pay (in real time!) by using the open data contained within MUSE. Solving what we call the “Who to pay?” issue currently plaguing the music world." This data will be owned by the musicians and no one else and through smart contracts will allow for the distribution of the funds or royalties instantly through the muse blockchain. According to their website "Recipients on MUSE get paid DIRECTLY, at the same speed it takes to receive an email – all without anyone taking a cut or charging transaction fees." The musician/artist will finally be in control of their own material.
There are three main reasons a musician/artist would want to use Muse.
1. Direct and FAST royalty payments
2. Transparency of both spins and payments
3. No third party controls your data or funds
A song’s information needs only be entered on MUSE once and all future updates can be done on the Blockchain directly. Once on MUSE, the information, which is updated in real time, is viewable by everyone.
Thanks to the introduction of the blockchain and the effort of few hardworking forward thinkers the music industry will be turned upside down and best of all the musicians will finally own and control their music and data.
According to a recent announcement two webApps are expected to be released the first quarter of 2018. And they are the PeerTracks streaming platform and the Rights Management Portal which allows for the musicians to create their smart contracts. Very exciting times.
Muse is not only beneficial the musician but the music fan as well. You can currently obtain Muse tokens on the OpenLedger.io exchange. As Muse gets off the grown in the next few months there is no doubt that other exchanges will be adding the token as well.
Much of the information on this post was directly taken from the Muse website museblockchain.com but please visit the site for more detail on the info presented in this post. Looking forward to see how far MUSE will go in 2018.