The company previously released a blockchain-based track Tiny Human by the singer and songwriter Imogen Heap. Now, Ujo intends to use the technology to launch a full-blown music platform early in 2017.

In October 2015, the startup presented a one-artist prototype allowing users to buy a license to download, stream and remix songs, where each payment is automatically split on the blockchain and sent directly to Imogen and each of her collaborators.

“We are building a service that allows you to manage your artistic identity, your music and licensing on your own terms. We are starting small, with music, onboarding eager, forward-looking artists to empower sustainable creativity,” Musically quotes the company’s statement.

According to Ujo Music, the first version of the service will enable musicians to easily register their work on the Ethereum-based platform and make it available to fans for online streaming and download. The company also noted that it is working with several labels, to “re-digitise their catalogue for use in open-source blockchain systems.” The startup encourages developers to use the Ujo platform as a basis for new applications.

Last year, a number of companies launched similar projects based on the distributed ledger. Among them are Revelator, Colu, Ujo and OCL.

Lena Gabdullina