Bitfury will launch a blockchain platform for the music industry

Bitfury Group announced the launch of the Surround division, which will develop blockchain applications for the music industry, helping performers, producers, copyright holders and stakeholders to solve topical problems.

The first Bitfury Surround project will be the open source platform based on Bitcoin blockchain. It will be launched on January 17 and will provide a unified ecosystem for cooperation, as well as the necessary conditions for the development of new applications and innovative industry development.

The platform will offer tools for safely transmitted data protected by copyright, audit optimizes the interaction between the participants of the industry, will help increase the efficiency of content management, its monetization. All this will open new economic opportunities for market participants.

To simplify work, Surround will be established as a cooperative that allows participants to introduce new business ideas and reduce the existing gap in profit issues. Thanks to this, the value of the project will be determined by the real activities of his team.

Bitfury Surround headquarters will be in Europe, and additional offices in Amsterdam and Berlin. In addition, the new division will be in operation in Los Angeles, Tokyo, Seoul and Moscow. Stefan Schulz will be the head of the unit, one of the founding partners and the executive vice president of Universal Music Digital.

According to Valery Vavilov, CEO of Bitfury, today the music industry is faced with a number of difficulties associated with the use of competitive and incompatible technologies, and the ecosystem also suffers from lack of transparency. Therefore, with the help of a new product, the company wants to help performers, copyright holders and stimulate the growth of the industry as a whole.

Recall that in early December, beta testing of one of the services was opened