According to the report, there are four main areas where blockchain could transform the music industries:
A single, networked database for music copyright information, rather than the many, not-quite-complete databases maintained at present;
fast, frictionless royalty payments, whereas payments can currently take years;
transparency through the value chain, allowing musicians and their managers to see exactly how much money they are owed, as opposed to a culture of non-disclosure agreements and « black boxes »; and
access to alternative sources of capital, with smart contracts – contracts implemented via software – potentially transforming crowdfunding and leading to the establishment of ‘artist accelerators’ on the model of tech start-ups.