Spotify acquires Mediachain to develop blockchain technology that matches royalties with rightsholders

Launched in 2016 with seed backing from Andreessen Horowitz and Union Square Ventures, Mediachain has been working toward using blockchain technology to entrench timestamps and data regarding ownership within a specific media asset. It’s all about enabling creators and rightsholders to prove they are the owner of a piece of work — in Spotify’s case, music — and receive payment. – Paul Sawers, VentureBeat