UGC Approved Journal no 63975

ISSN: 2349-5162 | ESTD Year : 2014
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Published in:

Volume 8 Issue 7
July-2021
eISSN: 2349-5162

UGC and ISSN approved 7.95 impact factor UGC Approved Journal no 63975

7.95 impact factor calculated by Google scholar

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Published Paper ID:
JETIR2107734


Registration ID:
201000

Page Number

g33-g38

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Title

Blockchain and International Identifiers for Music

Authors

Abstract

The context of revenue generation streams in the music industry has been intermittently discussed since the transition from sales to streaming started when Spotify launched in 2008. Although revenues in the industry have reached new heights, musicians express dissatisfaction with lower royalty payouts. Moreover, it has become increasingly more difficult and convoluted to understand the royalty calculations in the music industry. With today’s complicated licensing agreements, money flows through a complex chain of third parties before it reaches the hand of musicians. The industry struggles with transparency and efficiency, and the musicians are paying the price. Meanwhile, the rise of blockchain technology has developed since its first application with Bitcoin in 2008. Today, more and more advanced blockchains can run decentralized transparent applications that utilize the technology’s efficient transaction system. With the industry issues and the promises of blockchain in mind, this paper demonstrates how blockchain technology can be applied to solve value chain problems within the music space. This paper identifies core issues in the music industry, proposes a decentralized application (dApp) that attempts to solve these issues and implements the proposed solution. This paper exhibits the business logic by developing smart contracts on the Ethereum blockchain and uses IPFS (InterPlanetary File System) for decentralised file storage to make an associated web application choosing a JavaScript framework. The dApp works as a global copyrights database where musicians can register and license musical works. Author exploits Ethereum’s efficient transactional system to manage license purchases.

Key Words

Ethereum, Smart Contracts, Ethereum Virtual Machine, InterPlanetary File System.

Cite This Article

"Blockchain and International Identifiers for Music", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.8, Issue 7, page no.g33-g38, July-2021, Available :http://www.jetir.org/papers/JETIR2107734.pdf

ISSN


2349-5162 | Impact Factor 7.95 Calculate by Google Scholar

An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 7.95 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator

Cite This Article

"Blockchain and International Identifiers for Music", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.8, Issue 7, page no. ppg33-g38, July-2021, Available at : http://www.jetir.org/papers/JETIR2107734.pdf

Publication Details

Published Paper ID: JETIR2107734
Registration ID: 201000
Published In: Volume 8 | Issue 7 | Year July-2021
DOI (Digital Object Identifier):
Page No: g33-g38
Country: Visakhapatnam, Andhra Pradesh, India .
Area: Engineering
ISSN Number: 2349-5162


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