Bubuka has demonstrated the first deal with copyright holders on blockchain technology.
Bubuka, a legal music provider, runs payments with copyright holders on the platform of blockchain. The system allows you to make instant transactions, which is absolutely transparent and makes it possible to split payment between several right holders.
Prior to the transition to a new system, payments with authors working with Bubuka were carried out according to the following scheme: playing the track, paying for it on a “Bubuka” account, transferring payment to the author, and transmission of funds into the author’s electronic wallet.
Now the system becomes more effective. Once the track played in the user’s object, based on Bubuka service, the payment goes to the electronic wallet of the right holder.
The perspectives of blockchain for musicians were discussed by the members of the Dabro music band, Mikhail and Ivan Zasidkevich, the creator of online music magazine Muzbiznes, Armen Abachan, and CEO & Founder of Bubuka, Dmitry Pangaev.
Learn more via the following videos: https://www.youtube.com/watch?v=LJVklG5lgvo&feature=youtu.be; https://www.youtube.com/watch?v=3HEpQhVtoPQ