Bitfury Group and the Quest to Decentralize the Music IndustryBTC Casino / 21st January 2019
Bitfury Group started out as an early bitcoin mining company. Later, the firm gradually became a blockchain oriented company with many different projects. The London-based company has now announced a new entertainment division which will be tasked with the development of an open-source music platform running on blockchain tech.
There’s always been money in music, good money. It’s not an unseen phenomenon for a company to try and make waves into the industry. Bitfury Group may be a large player in the blockchain industry, but this new project is something entirely new to them. There have been talks about decentralizing the music industry for a long time.
The new platform by BitFury Group
The new platform will be called SurroundTM and will simplify and the secure transfer of copyright assets. One of the biggest goals of the project is to create an easy-to-understand and use environment for musicians. This will allow them to monitor their output and have a detailed information of what works and what doesn’t. Essentially, the environment will allow artists to manage their affairs with far greater efficiency.
Stefan Schulz, the CEO of Bitfury Surround stated:
“We have a very good opportunity to enter an unexplored market. At the moment, there is a strong moment for an open entertainment-related blockchain. Users will have the ability to participate in the market venue not only from a transactional point of view.”
Bitfury Group hopes that the platform will be able to provide a digital system for both monetizing and the sharing of intellectual property. Currently, the project is Europe-based with office presence in Amsterdam and Berlin.
New offices will be added in LA, Moscow, Tokyo and Seoul in the coming months. It’s important to note that the project may look exciting, it’s going to be a long time since full completion.
Bitfury Group isn’t the only firm with a platform that is looking for a solution to copyright management. Kodak’s blockchain platform offers photographers the option to register their images and secure their intellectual property.
The company has recently been valued at $1 billion and it managed to raise over $80 million from investors including the merchant bank Galaxy Digital.
Bitfury’s valuation was pushed into the “blockchain unicorn” category which is inhabited by giants like Bitmain, Circle and Coinbase.
You can also check out:
Cryptocurrency Theft: FBI Arrests Two Members of an Online Gaming Cybercrime Syndicate
Friday October 26, 2018
Unsealed court filings in Chicago show the arrest of two individuals believed to be part of an online cybercrime syndicate. The FBI says it suspects the group has stolen more […]
The post Cryptocurrency Theft: FBI Arrests Two Members of an Online Gaming Cybercrime Syndicate appeared first on BTC Casino Gambling.
Twitch Streamer Received 20 BTC in Only 1 Stream
Samourai Wallet: Google Play Wants to Remove Key Security Feature
SpankChain Showing Cryptocurrencies’ Ability to Give Personal Freedom
Bitcoin Miner Exodus: Who Can Still Afford to Mine
Novatti AUD Utility Token, Australian Dollar stablecoin launches on Stellar
Wednesday October 31, 2018
Last week’s Tether (USDT) action and its quick recovery showed that stablecoins are valuable to the Cryptocurrency ecosystem, but also more stable than people think. You can read more in […]
The post Novatti AUD Utility Token, Australian Dollar stablecoin launches on Stellar appeared first on BTC Casino Gambling.
The post Bitfury Group and the Quest to Decentralize the Music Industry appeared first on CoinStaker | Bitcoin News.