Bitfury Building a Blockchain Music Service
Bitfury Blockchain Music Service – The Bitfury Group which is a bitcoin mining firm turned global blockchain company based out of London announced that it will launch an entertainment division which will have the work of developing an open-source music platform that runs on blockchain technology.
Bitfury is a significant player in the blockchain industry and the aim of decentralizing the music industry has long been a dream but could now be closer to reality.
The open-source platform termed SurroundTM, will purportedly simplify the safe transferal of copyright assets. The main aim of the project is the creation of an environment that allows musicians to manage their affairs far more efficiently. This includes monitoring their output, being able to see what works, and most importantly what doesn’t. According to Bitfury, SurroundTM will lead the way in promoting innovation within the music industry.
Speaking to Reuters, Bitfury Surround CEO Stefan Schulz commented:
“There is a very strong momentum for an open entertainment-related blockchain where market participants themselves would be participating in the market venue, not only from a transactional point of view.”
The platform itself will look to provide a digital system for both monetizing and sharing intellectual property.
Bitfury is not the only firm to look at blockchain as a solution to copyright management.