The Blockchain. A technology that is changing the way we transact with one another on a peer-to-peer protocol is taking all industry to decentralization. One, that will highly benefit is the music industry. The many possibilities to decentralize music owners and creators and provide control back to them is something that a new Blockchain company is gearing up to do.
Audiochain was founded in 2016 by music and tech executive, Paula Reina, in the San Francisco Silicon Valley area. Originally from El Salvador, the first country to make Bitcoin a legal tender, she holds 20 years in the music business and 10 years in the tech space. Her vision for Audiochain was to provide tools for creators to transact directly with business partners and fans, using the power of the Blockchain.
The reality is that the current traditional system to license, manage music rights, purchase music and collect royalties, not only takes time – but is outdated. Audiochain is engineering tools to streamline the traditional system with this new innovative technology
With Brock Pierce, Chairman of The Bitcoin Foundation/Co-Foundation of Tether
The creation of Audiochain’s first product tool is the official Music Rights NFT™ The Music Rights NFT™ provides an all-in-one approach to secure your music rights, music publishing information, copyright verification and all music metadata to properly timestamp your musical work’s ownership authentication on the blockchain, (both composition and masters recording). This NFT is merged with Audiochain’s tools for music sync licensing and provides The Music Rights NFT™ the ability to allow all music to be pre-cleared for proper licensing. This yields the following three benefits:
1. Faster Licensing Clearance, 2. Precise and faster Royalty Collection, 3. Securing and establishing ownership prior to releasing a song or album as an NFT with real-world utilities via its smart contract features on its sync licensing and marketplace, which is currently missing from traditional NFT platforms.
Part of The Audiochain Team
When Reina explained this tool to William Entriken, the Lead Author of The ERC 721 Smart Contract Standard, Entriken’s interest was piqued as it correlates to proper collection of music sync royalties and not the selling of music rights.
Aside from Audiochain, Paula Reina has close to 10 years of experience in Blockchain business development. She has had the opportunity to consult and collaborate with many companies and projects such as Bits NFT, Binance.US, Kraken and a Top 25 global Blockchain––Tron DAO.
With William Entriken, Lead Author of The ERC 721 Standard that powers NFTs
She was an early investor in Bitcoin in 2013 and many other crypto currencies and has provided workshops since 2016 for individuals and companies both in San Francisco, CA and Miami, FL. Reina is also a notable speaker and has had the privilege to speak at The North American Bitcoin Conference, Miami NFT, NFT.NYC, BCrypt, and is slated to be a guest speaker at the first BlockchainRIO Conference and Festival in Rio De Janeiro in Brazil, as well as the Crypto Forum LatAm in Sao Paulo, Brazil with many more engagements scheduled. With her 20 years in the music industry, she has had the privilege of working at Universal Music Group, Def Jam Records, Interscope Records, The MusicLand Group, Velvet Rhythm Ent, and many more.
Paula Reina explains, “The evolution of money and technology comes at least three times per century. We had the Gold-to-Fiat dollars’ era, the industrial revolution and the launch of the internet. Now, we have the beginning of Web 3.0 – the decentralized digital revolution.”
With Da Hongfei (2017) Founder of Neo (Blockchain), the first blockchain in China
She also elaborates that it’s nowhere near over as Quantum Computing, AI, Augmented Reality and the Metaverse are soon to take the lead in the years to come. She explains, “There will always be individuals who are hesitant of change, and they have the right to act as such. However, technology is coming whether we want it or not. We have the free will to change aspects of our world with or without it. One thing is certain, the Blockchain and NFT’s are here to stay.”
Paula Reina and her team are slated to launch Audiochain’s Beta protocol for its Music Rights NFT™ in 2022, following with more products and tools soon after including future implementation of NTT’s (NonTradable Tokens), the metaverse, and much more.
Audiochain is ready to Decentralize the Music Industry. With creator’s in mind– with music controlled by you, at your fingertips.
