Music: Well Suited For SilentNotary
The reason behind the explosion of Ether demand was confirmed by Ethereum co founder Steven Nerayoff in a CNBC interview where he claimed the number of Ethereum projects today is more than 10 times year ago levels.
One of those areas is the music business. This is one are well suited for SilentNotary. Let’s take a look to understand why this area is ripe for change.
Why The Music Business Needs Help
Music may live forever but the business side has been in trouble for a long while. Over the last decade there have been only three years when the global value of music sales increased. The combination of digital music and outright pirating through peer-to-peer sharing has much to do with the long-term trend.
Throughout the world there are 69 copyright and royalty societies given the responsibility of documenting, collecting and distributing music royalties. That means collecting a few pennies whenever a song is played on the radio, Internet or anywhere else. Four of the largest of these is in the US, followed by Japan, Germany and Britain. Their operations are truly byzantine.
Experts in the music-publishing field confirm the time between music usage and royalty payment can run close to 24 months. Even then not all royalties are distributed. According to my sources, there are often millions of dollars collected by royalty authorities everywhere that never make it to the entitled recipients. That sort of practice borders on criminal behavior but copyright and royalty societies operate in a sub-rosa manner making it difficult to understand their policies.
In the past just 4 major record labels controlled over 80% of the industry. These giants could afford a full time legal department to pursue royalty issues dominated the music industry. Today, however, independent labels represent almost one-third of the market. This means less democracy in the business with the young independent artist at a particular disadvantage.
Of course, musicians aren’t the only group of artists loosing out on their pay. There are writers, poets and painters that go largely unprotected.
The music business is easy to track because it has more data. The industry is a series of decentralized power centers and Blockchain technology has the ability to disrupt long-standing industry practices. This offers a compelling opportunity for SilentNotary.
SilentNotary: Who Are We
SilentNotary is the world’s first digital notary that saves and certifies documents, emails, chats, audio and video recordings while securing authenticity using blockchain technology. We intend to use our early mover advantage to establish a dominant brand. You can follow our progress on our website www.SilentNotary.com or everywhere on social media.
The Enormous Markets We Serve
The market potential of SilentNotary is global. Everywhere where trust and verification is required, we have a customer. Think Business to Business markets like Insurance, Artists, Contractors and Blockchain Land Registrations for governments and cities. In the Business to Consumer market we address 2.32 Billion Smart Phone users. Everything is streamlined with our extensive use of mobile apps and chatbots.
SilentNotary has taken the Ethereum platform and added its patented Lightstamp technology. This will be a popular feature everywhere.
Gaining Traction
Team SilentNotary now totals more than 18 and growing. In addition to seasoned developers, the group consists of financial and legal experts, product designers and marketing specialists. This is real firepower.
Watch For News On Our ICO
Keep a close eye on SilentNotary.com for information on our ICO that will be announced shortly.
