The current royalty ecosystem is frustrating and difficult for all parties. The process is slow and manpower intensive and the information is not easily available. In addition, there is a lack of transparency and communication, with limited data sharing that creates mistrust among parties. Highly publicized cases of fraud and deception do little to improve the level of trust. In the current environment, there is no objective system in place to share data between interested parties, nor trust the data provided.
The variability and potential uniqueness of individual royalty contracts causes problems when companies need to deal with thousands of different owners a month. This is a problem identified in oil and gas and confounds every royalty industry from music to franchises. Further, there is no easy process or platform for investors (from micro to whales), or remote, long-distance investors to easily access this market. Large barriers toentry, and lack of trust. prevents individuals from investing. BRC blockchain application will broaden access and availability to royalty revenue streams and their unique character.
BRC plans to introduce a decentralized automated royalty payment and recording system. Pertinent royalty information will be accessible and trustworthy. It will also track payment for royalty payors so they know exactly who they owe and precisely how much, reducing administration and back office costs. The royalty owners will also be able to trust the payment they receive every month. The Blockchain Royalty Matrix smart contract royalty system will be easy to navigate and save millions, (estimated at 35-50% of back office cost) and over time potentially billions in administration, auditing, and legal/litigation costs.
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