The Bitfury Group a full-service blockchain technology company today launched Bitfury Surround, a music entertainment division that will design blockchain solutions to address challenges faced by artists and other stakeholders in the music industry.
Bitfury Surround’s first initiative will be to create an open-source music platform secured by the Bitcoin blockchain. The open-source platform, named Surround, will encourage collaboration, foster fresh applications and promote innovation within the industry.
The Surround platform will enable the entire music entertainment industry to streamline operations through the secure transfer of copyright assets, streamlined connectivity as well as better monitoring and management systems. To do so, the platform will create a fully interoperable digital ecosystem for sharing and monetizing intellectual property and enhance economic opportunity by providing transparent management functions and trusted data.
“The music entertainment industry has evolved into a complex, competitive, technology-driven environment that suffers from a severe lack of transparency. We want to champion artists and help incentivize the growth of the entire industry through the creation of this open, blockchain-based ecosystem.”