Tomsk company «Bubuka» held the first transaction on the blockchain

Tomsk company «Bubuka» made the deal based on the technology of the blockchain with the rights holders is a Russian musical group Dabro.

«Dabro has received royalties through the blockchain, payment was e-wallet in bitcoin (yet used cryptocurrency Ethereum). To this end, we have developed our own software. In the Russian practice such form of relationship with the rights holders applied for the first time», – said the Director of the company Dmitry Pangaev.

According to him, technology will allow to make the relationship between rights holders and users as transparent as possible.

«The blockchain in this sense is ideal: once in the playlist of the client using our system starts playing the song, creates a transaction, which, in principle, not alter or remove, and see it all participants of process» – he explained.

Agreement on the rights and payment amount are recorded in smart contracts and tracked automatically.

«Smart-the contract also allows to solve the problem when the copyright in the composition embodied not one but two or more (the author of the text, the author of the music and so on): the payment is divided between them automatically, based in a smart contract agreements,» – emphasizes Pangaev.

According to him, now a lot of talk about the blockchain, but in fact, few people understand its advantages.

«When you offer to musicians: let’s move the transaction into the blockchain, payments will receive cryptocotyle, all make round eyes», – said Pangaev.

A member of a group Dabro Michael Sacidevi noted that keeping contributions to bitcoin, you can make money on its growth.

«While it’s legal to turn the crypt into rubles in Russia – it is difficult legislation on the subject, not so that tomorrow the technology of mass does not move. But in the next two or three years, I am sure, the blockchain will already be widely used, it will be simpler, easier and more affordable. And will we be ready,» concludes Pangaev.

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