Blockchain technology to make legal distribution more reliable, fair and transparent
Amsterdam, 17 October 2016 – Hardwell is the first DJ to put his rights and payment stream into a blockchain. The Dutch top DJ expects that the technology will result in more transparency and a more honest distribution of rights and funds within the foreseeable future. “This will change the music industry radically and forever.”
The music industry is known for its complex payment structure, with many stakeholders and little transparency. The result is that artists must often wait years before being paid, while labels, musicians and other representatives often treat each other with suspicion.
The blockchain technology should help. Originally intended for transactions by the virtual currency bitcoin, the technique is now being used for transactions with any significance. Blockchain is, in fact, ideal for eliminating unnecessary intermediaries. By registration and management of intellectual property in the music world blockchain can serve as a third, independent party that makes the payment process faster, more efficient and cheaper. The result: reliable authentication of music and a fairer distribution of duties and fees.
Hardwell is taking the lead by being the first artist to place the rights from his music and own label, Revealed Recordings, in a blockchain platform. “With my team I look continuously for innovation and new technologies that we can use. Just as with my chatbot I look to intensify the contact with my fans, with this blockchain adventure I want to change the whole chain and make it more transparent. That is for every musician in this digital age enormously important, and I’m glad I get the chance to be the first to take this step. Within a few years this will change the entire music industry radically and forever, ” said the DJ.
Chris van Houten of Rightsshare, which built the blockchain, explained: “This blockchain platform enables Hardwell to monitor its activities and streaming revenues from its own numbers so they can be received immediately. With this technique Spotify, YouTube and soon, Facebook, will know how much they need to pay for each track. “
Denis Doeland of DDMCA, digital advisor for Hardwell’s Sorted Management: “Hardwell is a fine example of a DJ who wants to be a pioneer in the rapidly changing music industry. Contact with fans is paramount for him. The digital world makes sure that he has direct contact with his fans and keeps it. Blockchain is a beautiful way to intensify contact with the fans over time. In addition, blockchain provides a faster and more transparent billing, which is also clearly a way to see which fan cares about which music. The blockchain will not only be available through Hardwell’s website, but is expected to be connected later with services like Spotify and Apple Music. Hardwell is, therefore, an absolute leader here in the music industry. “
Hardwell has retained his peak status within his respective scene of dance music. A former 2 x World Number #1 DJ, the Dutch electronic pioneer has circumnavigated the globe with 2 world tours, closing the first at Madison Square Garden and more recently closing the second at Germany’s Hockenheim race circuit (making him the first DJ in history to ever play there). This summer Hardwell released the track “No Holding Back” together with Craig David and his latest collab with Jay Sean “Thinking About You” just came out. Having created some of dance music’s most iconic tracks, several of which made it onto his debut artist album ‘United We Are’, which went #2 in the iTunes global album chart, the Revealed Recordings label boss is a seasoned-veteran and yet still only 28 years old!
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Lubbers De Jong
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