and manufacturer announced the launch of a dedicated venture to the industry in a on Jan. 16.
The spin-off, dubbed Bitfury Surround, aims to tackle the complex and often unfairly proportioned flows of revenue between artists, fans and middlemen using blockchain technology.
The post explains,
“The Surround platform will enable the entire music entertainment industry to streamline operations through secure transfer of copyright assets, streamlined connectivity as well as better monitoring and management systems.
Surround marks Bitfury’s ongoing expansion into various aspects beyond mining. Within the (BTC) ecosystem, meanwhile, this week saw the company off-chain payments via the to their first environment via a partnership with BTCBIT.
Prior to that, in December 2018, Bitfury plans to launch a blockchain accelerator in in conjunction with global consulting giant .
“The music entertainment industry has evolved into a complex, competitive, technology-driven environment that suffers from a severe lack of transparency,” Valery Vavilov, CEO of Bitfury commented about the Surround project. Vavilov noted:
“We want to champion artists and help incentivize the growth of the entire industry through the creation of this open, blockchain-based ecosystem.”
Blockchain entities have sought to tackle music industry transparency for several years, with ideas such as a blockchain-based being revealed in 2018.
Published at Wed, 16 Jan 2019 09:15:00 +0000
