Copyright and traceability of rights holders are important issues. Copyright guarantees the intellectual property of creators on their creation, as well as their fair remuneration when it is used for commercial purposes.
Currently, it is up to music broadcasters (TV channels, streaming platforms, programmers, radio stations, etc.) to declare the broadcasted works to the copyright management societies (ASCAP, BMI, SACEM,...), which then claim the payment of the royalties from the broadcasters. The management companies then pay these royalties to the rightful owners: authors, composers, publishers, arrangers, lyricists...
A bit complex, you said?
This system is subject to several flaws and losses for the authors: false or mistaken declarations (or no declaration at all) from the broadcasters; bad cross-checking due to bad spelling (or other flaws) on the part of the management companies,...
Every year, because of errors, omissions or failure to claim, thousands of rights holders fail to receive the income they are entitled to.
Let's make blockchain and NFT technologies solve these problems for good.
On Keels, publishers and creators will be able to simply set which rights holders will have received royalties on the scores sold on the platform. Thanks to their wallet address, the rights holders just have to digitally sign the agreement, then a smart contract will be created and they will receive their payment directly, without intermediaries.
If the rights holders still wish to go through their rights collecting company, they just have to indicate directly the wallet address that is dedicated to them at this company.
Last modified 3mo ago
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