British blockchain startup Jaak has plans to work with music rightsholders and collecting societies in the near future. But its first pilot is with a company outside the music industry: MTV’s parent company Viacom.
Jaak is working with Viacom International Media Networks UK on a pilot using its META metadata network, which taps blockchain platforms Ethereum and Swarm to provide decentralised storage for media companies.
Jaak says that the plan with Viacom is to “explore micro-licensing and content syndication”, with CEO Vaughn McKenzie saying the announcement brings Jaak “one step closer to our first public alpha release”.
Music Ally interviewed McKenzie for our recent blockchain report, when he stressed that these kinds of pilots will be important for the music industry to gauge just how useful blockchain technology can be in solving its metadata headaches.
“Remember, this is all one big experiment, and we’re going to have a load of failures. But the upside is great: if we can bend loads of supply chains to be more efficient and find new applications for the technology, that’s better for everybody,” he told us.
“It can be like jumping off a cliff and figuring out how to put a parachute out on your way down. Or building a bridge and not knowing if there’s enough planks to reach the other side! That’s blockchain at the moment. There are loads of ideas, but let’s see which pan out.”