The future is already here...
1) So, is dotBC a cryptocurrency like bitcoin?
The blockchain solution we use at DotBC is not for crypto-currency but purely for information. Think of it as a shared surface on which all parties in the music industry can collectively share and own information about the songs and artists they work with.
2) What do you mean music industry players will “form collective truth?”
dotBC is not a new data standard that the industry has to adopt. Rather it is a way of bundling and improving on existing standards of music data like those that songwriters, publishers, record labels and streaming services use. This bundle is linked to a permanent blockchain record that can never be erased, only amended forward - creating an authoritative time-machine style ledger and history of changes to a song’s ownership.
3) Is it secure?
Dot Blockchain Media uses its proprietary data and user authority models, to identify and to remove bad actors, while at the same time being able to fix incorrect or outdated ownership data both before it gets to, and then once its actually on the Blockchain. In other words, data remains secure, and contributors of good data are rewarded.