Streaming media giant Spotify has announced that it has acquired blockchain content startup Mediachain for an undisclosed amount. It is reported that Mediachain has previously received $1.50 million investment from a16z and Union Square Ventures and is currently building a distributed database that connects creators and authors with the content they create. Spotify said the Mediachain team will join its New York office to help Spotify move further towards a music industry that is more fair, transparent and beneficial to creators and rights holders.