Back in May 2019, we caught on early to something new from distributor Ditto Music called Bluebox. It was described as “a platform to streamline the music industry supply chain and bring modern technology to an industry lacking transparency, framework, and structure” with blockchain involved somehow.
Eight months later, Bluebox has been officially unveiled. It’s now described as a “blockchain-backed suite of tools and applications for musicians” that will launch in May this year. “Bluebox will provide pioneering ways to record ownership and streamline split royalty payments, leading to higher collection rates and massively reducing the loss of earnings currently experienced by artists,” is how Ditto is pitching it.
“For musicians, Bluebox will instantly generate legally binding smart contracts between all parties involved in the creation of songs, including producers, writers, sample owners and more. Using a single database – or ‘source of truth’ – any information supplied through Bluebox is verified using blockchain technology, allowing for accurate multiple split payments for the lifetime of the sound recording.”
Ditto also says that it will use Bluebox for the company’s new publishing division, which will be announced separately in the “near future”. Ditto has also raised $1m of seed funding to get Bluebox off the ground from blockchain investment firm Kosmos Capital.
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