SHARE: Decentralized distribution using peer-to-peer, pay-for-access micro-transactions on blockchain
Abstract
The evolution of music distribution is largely characterized by incremental developments based on technology advancements. From early recordings and cassettes to digital media and MP3s, a song has always lived as a static piece of information interpreted by a machine to transfer an experience between humans. The problem with this trend is that the machine vendor has always established the terms of access to the song. Along every step in the progression, this model has crushed creators—eliminating any control over pricing, and the ability to directly connect with consumers. In this paper we propose a technology advancement that disrupts this trend by redefining digital content (such as music), not as static information, but as a dynamic self-contained machine. A simple analogy is the vending machine. A vending machine can be placed anywhere in the world, and its owner controls its access independent of the property on which it operates. SHARE is a protocol that enables creators to make orders of magnitude more money for their digital content by eliminating the dependence on centralized content streaming machines (e.g. Apple, Spotify, and YouTube) altogether. Instead, each piece of content encapsulates its own implementation of its access policy, independent of the application used to experience it. This "smart-content" itself is the machine. By expanding the definition of digital content (embodied by creator controlled smart contracts) beyond a static piece of information, and reimagining distribution using peer-to-peer, pay-for-access micro-transactions on blockchain, any streaming platform can instantly authenticate for access to a piece of digital content, execute an instant micropayment based on creator specified terms, and stream the experience to consumers. Most importantly, the price of the micropayment is set by the creator, not the platform. SHARE inverts the access model.
