Bitcoin innovation company Colu has utilized blockchain to create a music management platform for Revelator, a cloud-based music marketing company.
The API, as stated in the Colu’s recent press release, would help artists and music companies settle creative and distribution rights in a comparatively transparent ecosystem. The presence of the blockchain would further ensure a proper mechanism to grant rightful fees and royalties to artists in the form of digital assets, such as Bitcoin.
Appearing as a relief to an infrastructural inefficient music copyrights system, the Colu-Revelator partnership is truly kicking in some great upgrades for the industry. In an ideal scenario, an Eminem track, say if purchased online, would be able to distribute royalties to each and every artist and manager that was involved in the making and distribution of the song. Not only it saves one from unnecessary paperworks, but also ensures agreed splitting between the professionals.
Revelator’s Bruno Gorez praised the magic behind the blockchain technology to make such a task possible, stating:
“We are very excited about the potential for Colu’s platform to simplify the management of music rights, starting with those associated with