Ditto Music to launch Bluebox suite of blockchain tools for musicians

Ditto Music has announced the global rollout of a brand new blockchain-backed suite of tools and applications for musicians called Bluebox.

The global music distribution and record label service provider will launch the new service in May.

It’s set to provide a suite of new and innovative tools, using blockchain technology to guarantee better transparency and fairer deals for artists and the music industry as a whole.

The new service aims to give songwriters and producers more control over the money they earn from their music and help fix long-standing issues with inefficient data management in the industry.

“Bluebox will allow creators to instantly register copyright, publishing and mechanical splits at the point of creation using legally-binding smart contracts,” CEO and founder of Ditto Music, Lee Parsons, tells TMN.

“Bluebox is very much aimed at songwriters and producers who aren’t getting paid properly or have any way of legally tracking their material being used.”

Essentially Bluebox creates instant and legally binding smart contracts between parties involved in the creation of songs.

Using blockchain technology, a single database is then used to verify all information supplied, resulting in accurate multiple split payments for the lifetime of a sound recording.

Australian capital investment company Kosmos Capital, who specialises in blockchain startups, helped raise $1 million in private seed capital for Bluebox.

The Bluebox app will launch in May, and is also set to power Ditto’s new music publishing division, with further information to be released shortly.