Law Commons^™

Blockchain Copyright Exchange – A Prototype, Jiarui Liu

Buffalo Law Review

The copyright market for creative works such as music and movies traditionally involves a complex web of licensing transactions and exorbitant transaction costs. Out of every dollar that consumers pay, an artist who writes, performs, and produces her own work may receive less than fifteen cents while the rest are diverted to cover the costs of financing new production, marketing new works, and distributing royalties. Although artists are typically scheduled to receive royalties on a quarterly basis, a payment may lag as far as two years after users paid. Furthermore, if a collecting society is unable to identify the rightful …