A 5-day-long blockchain laboratory has brought together blockchain enthusiasts, innovators and major music industry players to find the ways of ultilizing blockchain for their needs.
The event was organized by #MTFLabs: blockchain team which is a part of Music Tech Fest Berlin at Funkhaus. The team describes blockchain as a technology “that’s been at the core of new and innovative startups, and has been… a way to make the music business more fair, transparent and sustainable.”
The general idea is to test and experiment with the technology, as well as to discuss it with industry leaders. The results of the laboratory’s work are to be presented on the main festival stage and than assessed and discussed in depth at the #MTFResearch symposium which is to be held on May 30.
The list of the workshop’s participants includes Ethereum’s Vinay Gupta, PledgeMusic founder Benji Rogers, the representatives of blockchain startups Ujo and Ascribe, and a Grammy-winning singer Imogen Heap.
The symposium, in its turn, will bring together representatives of Samsung, Siemens, Bosch, Philips and Intel with European policymakers and such industry leaders as Soundcloud and the Berklee Institute of Creative Entrepreneurship.
The main focus will be made on identity verification and ownership matters which are significant to artists, publishers and music labels. According to the festival’s official web-site, the results of their work are expected to lay the foundation for an advocacy material which is to be submitted before for the European Commission.
"While we do have a number of developers here, this isn't about writing code. It’s pointless to write a software app unless you’ve really done a thorough analysis of how it’s going to be used and who it’s going to impact," CoinDesk quotes one of the event’s organizers Peter Harris.
Earlier the idea of using blockchain for the music industry was voiced by MUSE platform and OpenLedger who partnered each other to provide artists with an opportunity to store copyright data and licensing conditions for their tracks in the blockchain.
