> Blockchains are the next big thing in nothing. They are not here to revolutionise anything [1]
I beg to differ [1]
> So how in the seven hells is blockchain going to help?
It's not a silver bullet, and most things are not ones that were not possible before. But it facilitates some combinations, makes some things a lot more practical, and opens space for innovation.
In this case, in particular, what comes to mind is:
- there's a replicated consensus of all this attributions. Every single company agrees and has a shared database of the rights and the licensing.
- the disintermediation: there's not necessarily a need to have a middle man managing this informations and agreements.
- auditable, notorized, unforgeable history: you have this immutable record of when songs were released, who held their records, who and when licensed them, etc.
- open information: if you design this system as an open network, any interested party can join and get the information it wants without needing APIs, etc.
All this without getting into tokens and handling the payments and distribution of royalties on the chain, and other innovations that the capabilities of the blockchain can bring.
[1] https://blockchaintechguide.com/a-blockchain-based-future/