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JAAK Announce MΞTA and the Guardian Initiative: A Blockchain Pilot for The Media & Entertainment Industry

Founder, Vaughn McKenzie unveiled plans for a blockchain pilot for the media and entertainment industry at EDCON ‘17.

The use of blockchain technology within the music industry is a hot topic, having snowballed from a vague concept into full legitimacy in recent months. Variations of blockchain implementations have captured the industry’s attention, however met with great skepticism and scrutiny over practicality or necessity.

Enter JAAK, the London based techcompany founded by Vaughn McKenzie, Freddie Tibbles and Viktor Tron, who have cut through much of the hype and misinformation surrounding the music and blockchain space to identify a real solution to a very real problem.

Through support from Ernst & Young LLP’ s startup innovation programme, the EY Startup Challenge, JAAK worked alongside the UK’s performing rights organisations, PRS For Music and PPL, and Viacom. From this, they observed that the diversity of revenue streams associated with the rapid transition to digital, have increased the number of organisations capturing, managing, exchanging and using digital rights and usage metadata. Discrepancies found in the completeness, accuracy and management of this information can cause severe difficulty, or in many cases impossibility, when licensing content or remunerating the appropriate parties.

In response to this issue, speaking as sponsors of EDCON (The European Ethereum Development Conference) in Paris, Vaughn McKenzie announced MΞTA, a decentralised open network for organisations to capture, store, verify and communicate commercial metadata, drawing on, the smart contract blockchain platform, Ethereum and their decentralised content storage solution, Swarm .

Announcing their official industry partners very soon, over the coming months JAAK will be accepting major music and media organisations to join their Guardian Initiative, a selective consortium collaborating to test, experiment and explore the opportunities presented by the use of this technology in their respective industries.

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Jeudi 23 Février 2017