Smart Record Contracts: Smart Record Contracts are smarter versions of legacy "Recording Contracts", which consists of all the meta-data about the music, including ownership splits. Smart Record Contracts live on the blockchain, accessible by anyone, solving the "royalty black box" issue. Anybody having any doubts about who to pay for a particular song can always refer to the public database and even send money to it, which will automatically split such payments to constituent copyright holder's wallets.