Songtrust has partnered with DotBlockchain Music for the second phase of its creation of a "decentralized global database of music rights, combining the publishing and the performance information into a unit of music that the industry can use."
The problem that Dotblockchain aims to solve involves the separation of copyrights creative material from the creators and owners themselves, which results in those owners not getting paid for the use of their work. Because rights are often held across different companies and organizations that don't often communicate with each other, the solution is a central location where a songwriter, publisher, record label, and a performer are all clearly identified.
Songtrust joins SOCAN, the Canadian-based performance rights organization, and SOCAN's rights administration subsidiary MediaNet, indie music distributor CD Baby, and digital rights service FUGA, resulting in a collective starting point of 65 million songs with which to begin building out a practical model.
Read more about DotBlockchain Music and its partnership with Songtrust here.