The development of the music industry has become the world's attention. especially because copyright infringement is rife throughout the world. many who mutually claim a work that leads to the realm of law.
Indeed, only the copyright owner has the authority to reproduce and commercialize the work. Traditional systems still allow artists to not get royalties that are in accordance with their quality work. Intermediaries are a problem in the distribution of royalties.
Some of the great expectations of a musician certainly revolve around the matter of protecting the copyright of their works. But, have all the musicians got it? The fact that surfaced, there were still many musicians who lost their rights, because their work was used unclear.
The phenomenon of copyright infringement and piracy is a problem that is never resolved. because along with the development of internet technology can open up flaws to do piracy. Then how is the solution to the problem in this entertainment industry?
By facilitating the improvement of the royalty system in the music industry, it will allow copyright and artists to get protection and justice. Of course, aided by new technology, Blockchain will solve the transparency and intermediary problems that occur in traditional systems.
Intermediaries are an obstacle for artists to get full royalties for their work. Through the MFTU Platform which has adopted Blockchain technology which is a decentralized system collaborating with CyberFM is ready to facilitate and transform the royalty system in the music industry to be more transparent and efficient without any intermediary. through MFTU and CYFM, awards for artists/musicians will be paid fairly. At least, the improvement of the digital royalty system can overcome the music piracy that has been rife so far.
By utilizing the existing facilities and opportunities, the artists are able to freely work while still obtaining appropriate royalties without 3rd party intervention. Well, the existence of online streaming, facilities can help artists market their work easily. But what about their royalty payment system? The MFTU platform has created an online royalty payment system using MFTU tokens and CYFM which are utility tokens or ERC20 registered on Blockchain ETH.
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