A UK-based mining firm, The Bitfury Group, has announced that it will launch a music platform which operates on the blockchain technology. This idea is not new, as many other tech companies also tried to do such a platform.
The platform, named SurroundTM, will become a helpful tool for every musician, as it plans to create a new environment where it is much easier to manage the musicians’ affairs. In particular, the platform will simplify the process of transfer of copyright assets, the user will be able to see his/her output. Bitfury believes that SurroundTM will implement blockchain into music industry much further than anything ever before.
The CEO of the Bitfury, 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 company has offices in Europe, yet, it plans to expand the service and establish offices in Tokyo, LA, Moscow, and Seoul. It also seeks the possibilities of providing a digital system for both monetizing and sharing intellectual property.
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