The purpose of the association is to utilize and deploy open-source distributed ledger software and protocols as a means of directly and indirectly promoting the growth, development and adoption of such technologies in the music industry, the surrounding community and the entire ecosystem. The association may collaborate with multilateral organizations, the private sector, regulatory authorities and communities worldwide to fulfill its purpose. The association may take any necessary and suitable measures to achieve the aforementioned purpose, plan and implement initiatives, and participate in or financially support initiatives of other organizations, or financially or otherwise support other organizations or individuals, to the extent that all these activities serve the purpose of the association. The association may directly or indirectly conduct all business and activities and enter into all transactions and contracts that are suitable to promote its purpose or are related thereto. It may establish branches and representations, participate in companies and establish subsidiaries. It may acquire, hold, encumber, rent and sell real estate and intellectual property rights. The association may also accept donations from third parties and act as a trustee in pursuit of its purpose. The association does not pursue any commercial purposes and does not strive for profit.
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