Three of the largest copyright organizations joined and announced, through a statement released by IBM, that they will explore blockchain applications, seeking to establish a focus for the benefit of authors, composers and music publishers. The group is formed by SACEM (Societe des Auteurs, Compositeurs et Editeurs de Musique), Ascap (American Society of Composers, Authors and Publishers) and PRS for Music who in collaboration with IBM, will develop the application in the Hyperledger Fabric of Linux.
Consequently, the main goal of the union of these organizations is to create a blockchain-based application or solution for the management of data in relation to copyright, especially in the music industry, and thus enable a tangible connection between the time in which the content is created and the moment in which it is consumed. Together they will create a link management system between ISRC (International Standard Recording Code) and ISWCs (International Standard Musical Work Code).
Another objective of the initiative is that the application allows companies to create a database and metadata of musical works, shared and decentralized, with capacity for monitoring and updating in real time. Likewise, as a distributed and decentralized registry platform, it will be able to address issues related to identification conflicts around a single work and multiple rights holders. These, sometimes called related rights, can be those that are related to the composer and the interpreter of a single work, or when there are several composers of the same work.
Basically, the overall purpose of the initiative is to improve the copyright process. Nowadays, and since the emergence of the internet and the birth of Napster, the intellectual property of musicians, composers and authors is constantly violated. Then the new services that have emerged as streaming (Spotify, iTunes, Google music, and even Youtube) have marked a new milestone, as it did in its time the Internet, P2P exchange and digital recording, revolutionizing the music industry completely.
Now, the application proposed by this group would improve the correspondence between these two datasets (ISRC and ISWCs) and optimize the identification of rights holders, reduce the risk of errors and limit costs, and ultimately accelerate the concession of licenses. In this way, works can be distributed and shared, maintaining both moral rights (this right is simply the adjudication of a name or an author to the work itself, beyond the monetary gain, and usually must be present) as the patrimonial law (monetary gain) are linked directly to the author, without the need for intermediaries.