*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).

Share:
More In Technology
Under Threaten of Competition, Tesla Held Its Own in 2021
2021 proved to be yet another formidable year for Tesla. In a year that saw electric vehicles carve out their own space in the transportation world, the company made further strides, keeping its spot on top even as new companies threatened competition. Tesla was able to hit the trillion dollar valuation mark, increase vehicle deliveries even as the world grappled with supply chain and delivery issues and sign a major deal with Hertz this year. And of course, you can't talk about Tesla without talking about Elon Musk, CEO and founder of the company, richest man in the world and Time Magazine Person of the Year, who saw plenty of successes in 2021 as well. Al Root, Senior Writer at Barron’s, explains just how good a year it was for Tesla.
Samsung, Micron Warn of Delayed Chip Production Due to Xi'an Lockdown
Daniel Newman, Founding Partner and Principal Analyst at Futurum Research, joins Cheddar News' Closing Bell, where he says the markets are going to feel very uncomfortable receiving news of more potential setbacks for chip manufacturers after already enduring a lengthy chip shortage.
Load More