CryptoMediaClub
Friday, October 3, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

IOTA’s Smart Contract Tackles Music Industry’s Payment Pain Points

13.08.2024
A A
0
120
VIEWS
ShareShare

The Berlin-based IOTA Foundation launched a new platform designed to streamline music intellectual property rights (IPR) management, simplifying the complex process of securing and distributing royalties.

Time to meet the 3rd solution #IOTA developed for @EU_EBSI: a #SmartContract platform to manage intellectual property rights. Here’s how it works 📽👇 pic.twitter.com/5h88eMuj9f

— IOTA (@iota) August 13, 2024

A recent blog post (Aug. 12) announced IOTA’s partnership with Musika Peripherika, a Creative Europe Innovation Lab project. This collaboration yielded a prototype seeking to address the complexities of royalty distribution within the music sector.

This prototype utilizes DLT, smart contracts, and NFTs to ensure fair compensation reaches artists, songwriters, and rightsholders promptly.

Transparency and Efficiency: Addressing Industry Challenges

A Smarter Approach to Intellectual Property Rights is sorely needed. The music industry’s complex rights structures often involve numerous parties and diverse contractual terms. This complexity often leads to delays, errors, and disputes in royalty distribution.

Additionally, identifying and tracking musical work usage across various platforms and territories pose a challenge for rights holders. This lack of transparency erodes trust and hinders industry efficiency.

[#EBSI Update III] #IOTA has developed an Intellectual Property Rights (#IPR) tool as part of the @EU_EBSI PCP. Using Distributed Ledger Technology (#DLT), it streamlines music rights management in films 🎹 🧵⤵ https://t.co/DDtldXbX80 pic.twitter.com/wjShd1Fm7H

— IOTA (@iota) August 12, 2024

To tackle these issues, the IOTA Smart Contractsystem for managing IPRs was created as part of the European Blockchain Pre-Commercial Procurement.

This prototype uses IOTA Smart Contracts (“ISC Chains”), IOTA’s Digital Identity Wallet, and NFTs to manage rights more transparently and efficiently, automatically handling royalty payments and contracts.

Additionally, the system uses a technology called the InterPlanetary File System (IPFS) to securely store contract information in a decentralized way. This means that data is stored across multiple computers instead of just one place, making it harder to lose or tamper with.

To make sure only authorized people can access the system, IOTA uses decentralized digital identities (DIDs) that are verified and secure.

The Road Ahead for IOTA’s Smart Contract Technology

Looking ahead, IOTA plans to integrate with the Open Rights Data Exchange to enhance data management and streamline intellectual property tracking within its IPR marketplace.

This initiative aligns with the EU’s broader efforts to leverage blockchain technology for secure and transparent cross-border services.

The IOTA Foundation’s selection for Phase 2A of the European Blockchain Pre-Commercial Procurement, focusing on both Digital Product Passports and IPR management, underscores its commitment to developing practical blockchain solutions that meet stringent EU regulations and address real-world needs.

The post IOTA’s Smart Contract Tackles Music Industry’s Payment Pain Points appeared first on Cryptonews.

Share9Tweet6ShareSharePin2

Related Posts

October 3 [LIVE] US Economic Data Mixed as PMI Shows Divergence – Positive Trigger for BTC?
All news

October 3 [LIVE] US Economic Data Mixed as PMI Shows Divergence – Positive Trigger for BTC?

03.10.2025
0

US economic data released today presents a mixed picture with the September S&P Composite PMI rising to 53.9 and Services...

Read moreDetails
US Government Shutdown Triggers Cryptocurrency Market Recovery: Bitcoin, Ethereum, and Ripple Prices Soar

US Government Shutdown Triggers Cryptocurrency Market Recovery: Bitcoin, Ethereum, and Ripple Prices Soar

03.10.2025
Why Is Crypto Up Today? – October 3, 2025

Why Is Crypto Up Today? – October 3, 2025

03.10.2025
NY Senator Introduces Bill to Tax High-Consumption Crypto Miners in New York

NY Senator Introduces Bill to Tax High-Consumption Crypto Miners in New York

03.10.2025
Nomura Unit Eyes Wider Access To Crypto Trading In Japan: Report

Nomura Unit Eyes Wider Access To Crypto Trading In Japan: Report

03.10.2025
Load More
Next Post
Bitcoin Miner Hut 8 Posts $71.9M Q2 Loss Despite 72% Revenue Growth

Bitcoin Miner Hut 8 Posts $71.9M Q2 Loss Despite 72% Revenue Growth

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Deutsche Digital Assets Lists ‘Bitcoin Macro ETP’ on Xetra Platform

Deutsche Digital Assets Lists ‘Bitcoin Macro ETP’ on Xetra Platform

1 year ago
Uber Races Into AI Data Labeling as Meta’s $14.8B Scale Deal Sparks Mass Defections – Who’s Next?

Uber Races Into AI Data Labeling as Meta’s $14.8B Scale Deal Sparks Mass Defections – Who’s Next?

3 months ago
BIS Calls for Unified Regulatory Requirements for Stablecoin Issuers

BIS Calls for Unified Regulatory Requirements for Stablecoin Issuers

1 year ago
Worldcoin Price Prediction: South Korea’s Largest Exchange Lists WLD – Could This Trigger a Global Breakout?

Worldcoin Price Prediction: South Korea’s Largest Exchange Lists WLD – Could This Trigger a Global Breakout?

3 weeks ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

US Government Shutdown Triggers Cryptocurrency Market Recovery: Bitcoin, Ethereum, and Ripple Prices Soar

Why Is Crypto Up Today? – October 3, 2025

NY Senator Introduces Bill to Tax High-Consumption Crypto Miners in New York

Nomura Unit Eyes Wider Access To Crypto Trading In Japan: Report

Bitcoin Breaks $120K As ‘Uptober’ Momentum Rises, Shutdown Fails To Stall Gains

Crypto Price Prediction Today October 2 – XRP, Pepe, Dogecoin

Trending

Record $300B stablecoin liquidity ready to fund Bitcoin and Ethereum purchases
Analysis

Record $300B stablecoin liquidity ready to fund Bitcoin and Ethereum purchases

03.10.2025
0

The stablecoin market has crossed a landmark $300 billion capitalization, reflecting its growing role as the connective...

October 3 [LIVE] US Economic Data Mixed as PMI Shows Divergence – Positive Trigger for BTC?

October 3 [LIVE] US Economic Data Mixed as PMI Shows Divergence – Positive Trigger for BTC?

03.10.2025
Bitcoin above $120k: Here’s 3 data points bulls must watch next

Bitcoin above $120k: Here’s 3 data points bulls must watch next

03.10.2025
US Government Shutdown Triggers Cryptocurrency Market Recovery: Bitcoin, Ethereum, and Ripple Prices Soar

US Government Shutdown Triggers Cryptocurrency Market Recovery: Bitcoin, Ethereum, and Ripple Prices Soar

03.10.2025
Why Is Crypto Up Today? – October 3, 2025

Why Is Crypto Up Today? – October 3, 2025

03.10.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz