One Global Database
Unlike other attempts creating a database that keeps track of worldwide copyrights, the MUSE Blockchain is not proprietary. It is an ownerless, automated, globally distributed, Peer-to-Peer network that is both transparent and open to all. The maintenance of its content does not depend on trust of a central authority.
A Ledger AS a means of payment
MUSE is not only a global database for royalties but also the means by which payments are sent – cheaply and instantly. The same database that is used to identify all rights holders of a song can be used to send the royalty payment itself with the same speed it takes to send an email. No need to rely on the legacy banking system and its associated fees.
Automatic Royalty Payment Splitter
MUSE users can tie a specific song to a “Smart Contracts” which allows the funds generated by that song to be automatically split up based on the instructions contained within. In other words, a user can tell the Blockchain what to do with funds coming from different sources (countries, streaming, retail, etc.) and have them split up to the correct rights holders or collection agencies.
A smart contract can be used to document legal rights in a legally enforceable, non-ambiguous manner. If a business wants to buy the right to use a song in an advertisement, then it could purchase the right through MUSE, use the song for its commercial, and then be able to prove to everyone that it had the right to do. The value of Smart Contracts is that it allows non-lawyers to verify legal standing.Read more
It allows Facebook or YouTube to automatically identify and enforce authorized usage/posting. Without the smart contract there is no way for services such as Facebook or YouTube to automate the enforcement of contracts. Inputting all licensing conditions to the Blockchain removes a tremendous bottleneck.
Once the Smart Contract is written to the MUSE Blockchain, any music service can read the information – which is updated in real-time – and start paying the rights holders their royalties through the network directly.