A London-based start-up JAAK has offered a blockchain for the entertainment and media companies to capture, store and verify metadata using Ethereum a
A London-based start-up JAAK has offered a blockchain for the entertainment and media companies to capture, store and verify metadata using Ethereum and Swarm.
Partners Vaughn McKenzie, Freddie Tibbles and Viktor Tron introduced JAAK at the recent European Ethereum Development Conference (EDCON) in Paris, as cryptocoinnews.com reported.
The Angel List listing explains that JAAK links media to metadata. Metadata, on the other hand, is available to the customer through the supply chain.
The product is designed to reduce complexity and inefficiency in the supply chain. By doing so, it allows a frictionless, real-time transfer of payments and usage data among media companies and creators.
This would make it easier for content to be licensed. In addition, the appropriate parties can be remunerated without any difficulty.
The official partners of JAAK are to be announced soon, as a Journal of Musical Things stated.
The music industry has seen several initiatives that resemble JAAK. Music can be placed on a decentralized server and then embedded with a piece of code, meaning that musicians can get their payment immediately, as cryptocoinnews.com wrote.
Some artists like Grammy-winning Imogen Heap has been known to support blockchain technology and its implementation in the music industry.
“Imagine if every time someone interacted with a song people got paid, without having to look them up. With this thing called blockchain, which underpins Bitcoin, there is a thing called smart contracts. They are like programmable transactions …At the moment it takes up to two years for me to receive my money, and it can really change your life if it would just come when it was due. In this day and age when we make millions of transactions a second, how can it take so long?”, she said in an interview with Real Business.
A singer-songwriter Tatiana Moroz has announced a new beta launch of Tatianacoin, a token created on the bitcoin blockchain. The cryptocurrency is created to connect musicians with their fans through blockchain technology.