Imogen Heap: saviour of the music industry? | The Guardian

Love that Ethereum (and therefore Vinay Gupta) involved in this. Smart contracts is a killer technology: 

Crucially, she’ll also include simple contracts, revealing under what terms the music would (ideally, as this is an experiment) be downloaded or used by third parties, such as advertisers, and how any money earned will be divided up among the creatives involved. All payment received – using crypto-currencies – will be routed to the recipients, as set out in the contract, within seconds. (It typically takes between weeks and months for royalty payments to work their way through the chain at the moment.)

Taken together, this means transparency and clarity can be introduced into the music industry; a decentralised registry will make it easier to locate the owners of the song to obtain a legal licence to use it; money can be quickly sent where it needs to go with far fewer intermediaries; and there will be a far richer ecosystem of data and information around each song.