Comment on Union Square Ventures & Andreessen Horowitz Help Seed Blockchain Startup Mediachain Labs for $1.5 Million by Spotify acquires Blockchain Startup Mediachain Labs – Blockchain News

By InsideBitcoins Apr 29, 2017 12:56 AM EDT

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Mediachain has joined the likes of OpenBazaar and Blockstack and joined the community of Blockchain startups backed by some of the most powerful venture capitalists in Silicon Valley including Union Square Venture, Andreessen Horowitz, and RRE Ventures – as well as Digital Currency Group, LDV Capital, Alexis Ohanian, William Mougayar, Kanyi Maqubela, David Lee, Mathieu Drouin and Brian Message.

This funding will enable them to further the open source development of the Mediachain platform, and to build applications and services to make it accessible to everyone.

Mediachain staffers blogged:

Early in the life of Mediachain, we were inspired by two things: the implications of Bitcoin for a new generation of completely open and decentralized data networks, and the magic of the technologies behind Shazam and Google Image Search to let us discover the creator of an image or song at the click of a button.

The problem we wanted to solve is one creators and their audiences face every single day: billions of images, songs, videos, and written works are easily shared online, yet they quickly lose connection to their creator and history or context as they are reposted.

We had a simple idea: What if the information about all media ever created was completely open, and you could instantly know everything about whatever you were viewing, watching, reading, or listening to — who made it, what it was, where it originated — regardless of how you came across it?

That’s what we’re building with Mediachain: a completely open, universal media library.

Mediachain connects media to information, through the content itself. It combines a decentralized media library with content identification technology to enable collaborative registration, identification, and tracking of creative works online. In turn, developers can automate attribution, preserve history, provide creators and organizations with rich analytics about how their content is being

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