DDEX, ISRIC, CWR… the acronyms and formats spill on. Collection societies, publishers, labels, distributors… everyone is running their own database and bridging gaps between them is a complicated, messy affair.
What if there was a single, decentralized repository that no one and everyone owned? An instantly accessible source of information that could act as a single point of truth. That’s the aim of this project. Ambitious, but achievable. We have a roadmap and an eager list of participants converting an idea into action.
A BASIC BLOCKCHAIN DATABASE
- starting with the indie music market
- seeded by content from Resonate + other partners (TBA)
- publicly readable, decentralized and open source
- based on the COALA IP
- all industry formats (DDEX, CWR, ISRC, etc)
- editing/access via partners
Ownership, rights, payments. Identity is serious. This second phase will be explored from various angles – research driven by academic institutions, prototypes and workshops among niche music circles and vetting/risk assessment from the overall blockchain community.
Purposely moved into a later, extended development phase owing to the complexities inherent in mashing up identity with the blockchain.
The most complex phase. Smart contracts plus human expertise to facilitate expedited payments and agreements for sync licensing, performance rights and more. Purposely scheduled in the final phase owing to the extreme degree of nuance and complexity that arises from the vast number of markets, territories and the always elusive human element that drives decisions around the commercial exploitation of artistic creations.