Blockchain technology has the potential to revolutionize the way music rights and royalties are managed in the music industry. Through its decentralized and transparent nature, blockchain can offer solutions to long-standing issues such as royalty distribution, copyright infringement, and intermediary fees.

One of the main benefits of using blockchain for music rights is the ability to create a secure and immutable ledger of ownership. By recording each transaction on the blockchain, artists and creators can ensure that their rights are protected and that they are properly compensated for their work. This eliminates the need for third-party intermediaries and reduces the risk of fraud and disputes over ownership.

Additionally, blockchain can streamline the process of royalty distribution by enabling real-time tracking and automatic payments. Smart contracts can be used to automatically distribute royalties to artists based on pre-defined conditions, such as the number of streams or downloads of a song. This eliminates delays in payment and ensures that artists receive their fair share of revenue.

Furthermore, blockchain can help to combat copyright infringement by providing a transparent record of ownership. Artists can register their work on the blockchain, creating a timestamped and tamper-proof record of their ownership rights. This can help to prevent unauthorized use of their music and enable them to take legal action against infringers.

Overall, the impact of blockchain on music rights and royalties is profound. By providing a secure and transparent system for managing rights and payments, blockchain has the potential to empower artists and creators, reduce industry inefficiencies, and ensure fair compensation for all parties involved.