Question

A record company is using blockchain to manage the ownership of their copyrighted content. the company requires that every time one of their songs is used for commercial purposes, all the parties involved in creating it receive a set percentage of a royalty fee. how can a blockchain help track the royalty fees?

Answer 1

Blockchain is the system that records the details across many systems for monetary purposes. It can help in tracking the royalty by using the method of consensus.

What is royalty?

Royalty is the amount of money that gets paid to the person who made the patent and allows the use of the patented or copyrighted item in exchange for some amount. It can be given for songs, books, etc.

The consensus method of royalty calculation is based on the percentage that includes some amount of net revenue that is produced when the patented item is used.

Therefore, the consensus method is used to calculate royalty.

Learn more about royalty here:

https://brainly.com/question/19537789

#SPJ1