September 19, 2017

Ujo prototype equips musicians with blockchain tech

Source submitted by jeriaska on 2016-03-03
The Ujo Music tech demo previews services for independent music creators that make innovative use of blockchain technology. The platform aims to equip audio teams with the ability to publish digital albums online and have the proceeds delivered automatically to multiple collaborators, as outlined by a smart contract.

Ujo came about when Grammy Award recipient Imogen Heap approached Brooklyn-based decentralized applications developer Consensus Systems (ConsenSys) to discuss the concept of utilizing the Ethereum peer-to-peer network in music distribution.

To demo the service, her song "Tiny Human" has been made available to purchase online in Ethereum's digital currency, Ether.

Proceeds from "Tiny Human" sales are delivered to the composer, audio engineer and performers involved in the song's production, according to the terms laid out in advance. Because such payments are automated, removing the need for a trusted third party, Ethereum's asset management apps are termed "trustless."

"The concept for a fair and transparent music industry has been envisioned for many years by many people," says ConenSys strategist Jesse Grushack. "ConsenSys conceptualized the platform by launching in July of last year. Imogen reached out and we started working on bringing this vision to life by launching the Ujo demo."

On the licensing section of the prototype website, visitors can trace the flow of the proceeds from "Tiny Human" to the individual collaborators who contributed to production on the song.

Early adopters who are not averse to being paid for downloads in Ether will be able to receive payments immediately, while Ujo aims in the future to make quick payouts available in U.S. dollars.

For game industry audio teams, the applications built on blockchain tech represent a near-term option for efficiently managing digital sales so that every member of the team is rewarded, regardless of how many players are involved. To keep up with news updates on Ujo Music's progress, @UjoMusic and @JesseGrushack can be followed on Twitter.

Ujo Music Website - Tiny Human Prototype