Former EMI, UMG and Really Useful Group exec Barney Wragg has announces the launch of a unique new band name registration service for artists.
Bandnamevault.com uses blockchain technology to help musicians protect their band, DJ, or stage name without spending thousands of dollars to register a trademark.
Using a customized search engine that draws data from multiple major music services and databases artists can now search potential new band names for free.
Once an artist finds an available name, for $15 they can create an immutable record of that name, as well as all uses of that name including every gig, recording, public performance or other appearance.
All of this information is permanently linked to the Blockchain and can be independently verified at any time in the future.
Following registration with Bandnamevault.com the name is usually published and verified on the Bitcoin Blockchain within 30 minutes.
Barney Wragg, has held global digital strategy positions at EMI and Universal Music Group and until recently was CEO of Really Useful Group before launching his own investment and advisory company Unit 1 Ventures in July.
Wragg is joined at Bandnamevault.com by Simon Watt, until recently Global Head of Technology at Universal Music Group, and Sean Hanly, CEO of Irish Ticketing company Ticketsolve.
“Bandnamevault.com combines our own smart technology and the proven benefits of Blockchain to solve an issue for artists that has caused conflict for as long as anyone can remember.”
Barney Wragg
The Bandnamevault.com service is built on the Bitcoin Blockchain, which supports the $10bn Bitcoin currency, a technology that ensures long term data registration.
According to Wragg, Bandnamevault.com utilizes hash encryption technology to overcome the limited space available in the Bitcoin Blockchain and ensure that registered data is linked irevocably to the Blockchain.
It is dubbed: ‘The first truly practical and commercial use of the Blockchain specifically designed for the music industry.’
Bandnamevault.com uses Tierion, a blockchain proof engine, to record artist’s band name registrations on the blockchain. The company has plans to build a number of additional Blockchain based services for the for the music industry, details of which will be announced in the coming months.
Barney said: “There has been a lot of talk and excitement about the Blockchain in the music industry but no one has to date really figured out how to practically apply it or commercialise it.
“Bandnamevault.com combines our own smart technology and the proven benefits of the Blockchain to solve an issue for artists that has caused conflict for as long as anyone can remember.
“Now artists have a simple, affordable way of identifying and securing their band, DJ or stage name, and importantly associating every event or usage with that name.
“All of these records will be protected for all time and can be independently verified any time in the future. This gives a full and detailed record of prior use of that name.”
He added: “Our team has identified several other really interesting applications for Blockchain technology in the music industry and have partnered with Tieron.com to investigate and instigate a number of groundbreaking initiatives that we hope to announce in the near future.”Music Business Worldwide