Ujo Music Founder Says Blockchain Can Fix the Music Industry
*By Jacqueline Corba*
The music industry is broken because artists are not getting paid what they should, said Ujo Music's co-founder Jesse Grushack, and he can fix it with blockchain technology.
Ujo Music is part of the Consensys studio, led by Joe Lubin, the co-founder of the blockchain-based computing platform Ethereum.
More than 80 artists, including Imogen Heap, RAC, and Giraffage, are on Ujo Music's platform. No money can be exchanged yet, but Grushack said eventually artists will be paid with Ethereum.
"What matters is the artist is getting a fair value for use of their song," Grushack said Thursday on Cheddar's The Crypto Craze.
Through Ujo Music, creators can maintain control of their licensing agreement and set their own price and rules for how their own content can be used. Grushack said the goal is to create an ecosystem in which no matter where content lives on the web, artists get paid.
"A lot of people have grand ideas in blockchain, but the pipes to build all that stuff aren't quite there yet," said Grushack. "Consensys allows us to play with ideas, play with tech, and provides us with services such as marketing and diligence."
For the full interview, [click here](https://cheddar.com/videos/how-ujo-music-is-leveraging-blockchain-to-pay-artists-fairly).
New laws under consideration in Europe, Asia, and the U.S. could put some sharp limitations on Big Tech. Some of the limits would include how these companies can treat smaller competitors and even restrict their use of artificial intelligence, things like facial recognition. Co-founder and Executive Director at Accountable Tech, Nicole Gill, joined Cheddar to discuss more.
A new report out on Linkedin says that Crypto-related job postings in the US surged to 395% between 2020 and 2021. Job titles which included titles containing "Bitcoin", "Ethereum", "Blockchain", and cryptocurrency, all outpaced jobs in the wider tech industry which saw a 98% increase in listings during the same time period. LinkedIn also notes that the most common crypto job postings were blockchain developers and engineers. CEO of Radkl, Ryan Sheftel, joined Cheddar to discuss more.
Garrett Nelson, Senior Analyst and VP of Equity Research at CFRA Research, joins Cheddar News' Closing Bell, where he breaks down where automakers like Ford, Tesla, Rivian, and Lucid currently stand at the start of 2022 and what we should expect to transpire in the upcoming year.
Fintech startup Milo has launched what it says to be the world's first crypto mortgage. As part of the offering, clients will be able to use Bitcoin as collateral to purchase property and qualify for a 30-year loan. Josip Rupena, CEO and Founder of Milo, joins Cheddar News' Closing Bell, where he explains how this offering is a winning solution for crypto investors who want to invest in real estate.
Software company BigPanda recently raised $190 million in Series D funding, led by Advent International and Insight Partners. The funding round gives the company unicorn status with a $1.2 billion valuation. BigPanda develops A.I. software that detects and analyzes problems in I.T. systems. The company says it aims to be the solution for other companies that do not have enough manpower to manage their data, as more and more industries continue to build a broader digital presence. BigPanda co-founder and CEO Assaf Resnick joined Cheddar News' Closing Bell to discuss.
AT&T and Verizon have agreed to delay activating their 5G services around airports due to safety concerns. This comes after major U.S. airlines voiced their concern over the rollout of 5G technology, warning of an impending "catastrophic" aviation crisis. Hugh Odom, founder and president of Vertical Consultants, telecom expert, and former AT&T attorney, joined Cheddar Movers to discuss.
Tech giants Meta, Amazon, Alphabet, and Apple are faced with a bipartisan antitrust legislation effort underway in the Senate Judiciary Committee. The companies stand accused of promoting their own goods and services over smaller competitors on their platforms, holding too much monopolistic power via their app stores and services. Adam Kovacevich, founder and CEO of Chamber of Progress, a technology industry trade group, joined Cheddar to argue that the bills that are being debated currently could end up hurting consumers, rather than helping.
A saving grace for offices during pandemic lockdowns, video communication platform Zoom announced its own plans for doors to reopen from its Work Transformation Summit 2022. Dubbed Workstyles, CFO Kelly Steckelberg joined Cheddar to discuss the self-reported, tiered levels for how employees will be reporting going forward, from the majority of workers going hybrid to personnel who will work fully from home or the office where it makes sense. Steckelberg also talked about the company's plans for the future, stating “what we can control is our own execution," as Zoom's stock hit a 52-week low.
Sebastien Lagree, creator and founder of Lagree Fitness, joins Cheddar News to talk about the growth of Lagree Fitness and industry trends to watch in 2022.
