Music industry digital specialist Barney Wragg has launched a new service called Band Name Vault using Blockchain aimed at allowing artists to register a band, DJ or stage name for just $15.
Band Name Vault utilises Blockchain technology to help artists protect their name without spending vast sums to register a trademark.
By using customised search engine drawing data from multiple major music services and databases, artists can search for new band names for free. Once an artist finds an available name, they can create an immutable record of that name, and all of their uses of that name, including every gig, recording, public performance or other appearance, for $15. This information is permanently linked to the Blockchain and can be independently verified at any time. Following registration with Bandnamevault.com the name is published and verified on the Bitcoin Blockchain within 30 minutes.
The service is built on Bitcoin Blockchain, which supports the $10bn Bitcoin currency, a technology designed to ensure long-term data registration.
Wragg, who 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, is joined at Bandnamevault.com by Simon Watt, former global head of technology at Universal Music Group, and Sean Hanly, CEO of Irish Ticketing company Ticketsolve.
“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,” said Wragg. “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.”