*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
Tracking the Rapid Spread of the Omicron COVID-19 Variant
Six states have confirmed cases of the new Omicron coronavirus variant, and this number is expected to grow. Cheddar's Hena Doba speaks with Dr. William Schaffner, Professor of Preventive Medicine at Vanderbilt University Medical Center, on the latest developments.
Next Week on the Street: Earnings, Mosseri Testifies, Blue Origin Launch
Earnings season continues in the week of December 6 - 10, and that's only the start of a slate of events on the calendar that may move markets. We will also see executives from the crypto world and Instagram Head Adam Mosseri testify before members of Congress, and Square's name change to Block officially goes into effect.
Load More