Blockchain technology may have transformational potential for those music industries associated with recorded music, and for the sustainability of music careers. While predictions of widespread disintermediation may have been premature, blockchain technology does appear to have the potential to transform the role of third parties and to make musicians' careers more sustainable. Blockchains could improve the accuracy and availability of copyright data, facilitate near-instant micropayments for royalties, and significantly improve the transparency of the value chain.

Blockchain technology represents an emerging source of venture capital crowdfunding for creative ventures, specifically in the music industry. Although music streaming is often portrayed as a success story, the internet has in fact been something of a false dawn for the recorded music industry-particularly for emerging musicians. New music ventures might obtain alternative entrepreneurial finance through token sales or Initial Coin Offerings. Policymakers can play a role in developing this form of seed finance for the creative industries and beyond.

This chapter critically investigates the application of blockchain technology for intellectual property management. To date, there have been relatively few critical discussions of the feasibility of utilising blockchain technology for the management of intellectual property, although much has been written, in media and industry sources, about the potential. Our aim, by contrast, is to examine possible limitationsand, subsequently, to suggest tentative solutions to the limitations we identify. Specifically, this paper aims to examine the use of blockchain technology for intellectual property management from two perspectives: operation and implementation. We conclude that, while commentators often focus on technical characteristics of blockchain technology itself, it is the incentive designwhich was fundamental to the original Bitcoin proposalthat is also critical to truly decentralised, and disintermediated, intellectual property management.

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