At #MTFBerlin in May 2016, we brought together a diverse group including some of the world’s leading experts in blockchain technology, cryptography, metadata, music business, songwriting rights and royalties - representing artists, online music services, financial tech and other interests. Over the course of five days leading up to the festival, and in response to a lot of industry interest, public discourse and hype, this group examined, experimented and debated in order to explore ways in which blockchain technology could help improve the music industry.

It soon became apparent that before improvements could be attempted, first there must be agreement what would constitute an improvement.

After many long discussions, ranging from the technical to the philosophical, the group arrived at a number of more specific questions that require serious analysis, leading to a fuller and clearer picture of blockchain technology and its limitations, particularly with respect to how it might apply within the ecosystem of music as both a cultural force and an economic commodity.

The result was a whitepaper that maps out both the benefits and drawbacks of how an actual implementation might distribute among industry players and stakeholders - from artists to audiences and all of the many intermediaries.