UJO ICO: Decentralized Distributed Music File Storage System?
In 2015, Imogen Heap collaborated with Ujo to demonstrate how Ethereum could usher in a modern music supply chain that operates on a backbone of prompt and transparent payments.
In addition, they collaborated with RAC to show the UJO store that is due for release later this year, with a creator’s portal where artists can publish, license, and get compensation for their work on the Ethereum platform.
UJO Creators Portal
The creator’s portal consists of various features as follows:
The Creator’s Identity:
The Artist Portal will assemble data around creative works and their uses, which can be used by the applications. The portal will always remain in the artist’s control.
Publish Upon Uploading:
By using the Ethereum platform, there will be no need to register copyright and sign with a publisher to enforce the payment of someone using your creative work. If your work is original, you can simply upload your track and get it published.
Control licensing options: with the new platform, it is possible to control all the licensing options. You can download, stream, sync, or stream regardless of the intended use of your music. Besides, you are able to control the rate at which you’re paid. The platform allows you to set default options or tailor license types to applications from within the portal.
Set distributions: After you publish and assign licenses, you can proceed to push your catalog to different applications, including your personal Ujo powered store.
Stay ahead with a decentralized file storage: Decentralized and distributed file storage systems enable redundant data that is fault-tolerant and self-sustaining. This is due to the in-built incentive systems.
With technologies such as InterPlanetary File System (IPFS) and Swarm, you are able to apply peer-to-peer networks to transmit information. This eliminates the need for a fragile database witnessed in centralized service providers. On the platform, data is content-addressable, which means you can retrieve it using a cryptographic hash of the data itself instead of the location of a specific entity’s server. This eventually leads to a fast and future-proof solution.
Metadata — Constellate
This is an open, global database of rights holders and their creative works. It allows service providers to license their works more easily for several use cases. To achieve that goal, there is the need for a modern, machine-readable, content-addressed metadata standard. Against that backdrop, Constellate incorporates the collaborative COALA IP specification, which works in tandem with Ethereum ontologies (EthOn).
Licensing + Payments – Ethereum
The platform utilizes Ethereum to build out flexible and modular licensing systems. It enables automated payments to rights holders according to licenses they design themselves in the friendly and easy-to-use Ujo interface. This can be extended to incorporate a wide range of additional functionality such as programmatic contracts, variable pricing, or payment routing.
Persistent Identity — uPort
Artists spend several years to put effort into their creative work. As such, they need to curate their collections. With the digital age, a service can shut down and all the work would be lost.
On the Ethereum-based platform, the same system that allows flexible licensing also ensures that artists don’t lose control of their identities, their fans, and more importantly, their creative work.