The Open Music Initiative (OMI), an open-source framework for music rights and licensing, has announced that Intel’s blockchain technology, Sawtooth Lake, will be its reference platform open source ledger for tracking, managing and protecting use of rights holders’ intellectual property.
Announced in June as a partnership between Berklee Institute of Creative Entrepreneurship and the MIT Media Lab, OMI focuses on rights management and organization in the digital era.
Blockchain is the decentralized system that acts as a tamper-proof ledger of records and is increasingly being used to secure and verify various forms of digital transactions, including the distribution of music files. (Even Goldman Sachs is looking into it.) OMI will use Sawtooth as the foundational technology for a ledger to facilitate transparency and seamless payment flows within the industry. The goal, put plainly, is to simplify the way music creators and rights holders are identified and paid.