New York-based blockchain venture production studio, ConsenSys, plans to move its Ujo Music rights management and royalty payment platform to closed beta mode during Q1 2017. Asked his view of the legacy music industry’s posture regarding blockchain adoption and new business and operating models, Barry said he sees “growing appreciation that this technology could solve real problems in the music industry and that those problems are universally understood to be big enough to invest in” to create remedies. The Ujo Music platform is designed to concentrate artists’ identities and businesses within artist-owned websites where content can be marketed and royalties shared by digital currency, and traditional industry snarl-ups avoided. “Blockchains are the future of music distribution, but they have a long way to go before they’re ready for mass consumption,” said Jason Calacanis, CEO at ConsenSys.
New York-based blockchain venture production studio, ConsenSys, plans to move its Ujo Music rights management and royalty payment platform to closed beta mode during Q1 2017. The Ujo Music platform is designed to concentrate artists’ identities and businesses within artist-owned websites where content can be marketed and royalties shared by digital currency, and traditional industry snarl-ups avoided. “Blockchains are the future of music distribution, but they have a long way to go before they’re ready for mass consumption,” said Jason Calacanis, CEO at ConsenSys.