Music professionals like musicians, managers and labels use blockchain technology to fight fraud, create smart contracts and secure payments.

Blockchain technology has its ability to store, organize and share data based on a concept of transparency which can change the music industry’s revenue stream. In a panel discussion on May 17, by blockchain panelists at Shoreditch House’s library in London, talks about the issues involved, including transparency and copyright were discussed.

In April, Francis Gurry, director general of the World Intellectual Property Organization organized an international conference to explore the challenges and drawbacks of the current global digital content models, and seek possible solutions for the future. Talking about the blockchain technology in the music industry, he mentions, “Some people suggest that blockchain, may be something that can be applied to mass licensing. Blockchain is a secure chain of title, so you have security between the operatives, between the parties to a transaction – security in relation to the subject matter of the transaction.” He added saying, “Imogen Heap has released a recording using this. So I think technology can help us in simplifying the rather complex operation of the copyright system".

Recently Imogen Heap, an English singer-songwriter and composer adopted blockchain technology to revolutionize the music industry. Ms. Heap is using it to sell music getting the royalties directly and as a result, there are no companies between her and her listeners, like Spotify or iTunes, to take a cut along the way.

Music Tech Fest is to be held at Berlin from May 27 to May 30, 2016 which will feature a 5-day blockchain laboratory called #MFTLabs to conduct experiments and explore the possibilities for music using the technology. The festival will witness well-known artists and labels, music streaming and cloud hosting organisations, rights managers and a diverse cross-section of music industry representatives. scientists and academics from the world’s top institutions will also be a part of this fest.

According to the fest website, “#MTFLabs: Blockchain is not simply a discussion or a seminar, but a hands-on testbed for innovation and experimentation. There are some fundamental questions to be explored and some exclusive technologies to be tested – and of course, the central figures in the public blockchain music conversation will be involved and represented.”

Blockchain has already been making inroads in the global music, as well as the movie and publishing worlds. Soon it is expected to find ways to block access to materials and to halt free and open distribution of creative works over the internet.