The Bitfury Group today propelled Bitfury Surround, a music stimulation division that will structure blockchain answers for location

Bitfury Group Announces Blockchain Music Entertainment Division

Cryptocurrency Blockchain

The Bitfury Group today propelled Bitfury Surround, a music stimulation division that will structure blockchain answers for location challenges looked by craftsmen and different partners in the music business.

Bitfury Surround's first activity will be to make an open-source music stage anchored by the Bitcoin Blockchain. The open-source stage, named SURROUND, will empower coordinated effort, cultivate new applications and advance development inside the business.

The SURROUND stage will empower the whole music media outlet to streamline tasks through secure exchange of copyright resources, streamlined availability just as better observing and the board frameworks. To do as such, the stage will make a completely interoperable computerized biological system for sharing and adapting licensed innovation and improve monetary open door by giving straightforward administration works and confided in information.

"The music media outlet has developed into an unpredictable, focused, innovation driven condition that experiences a serious absence of straightforwardness," said Valery Vavilov, CEO of Bitfury. "We need to advocate specialists and help boost the development of the whole business through the making of this open, blockchain-based biological community."

The SURROUND stage will give and keep up a coordinated layer that anchors vital elements to help develop the music diversion biological community, including:

  • Service legal agreement (SLA) capabilities
  • Interoperability and auditability
  • Secure asset movement across the blockchain
  • Payment rails
  • Immutable and trusted data
  • Anchoring and decentralized timestamping
  • Tools for an open economy (unified APIs, smart-contract management, peer-to-peer structure)
  • Artificial intelligence and machine learning
  • Collaborative ownership of assets

To begin, Bitfury will build solutions to address many challenges the industry faces today, such as:

  • The value gap between the creative industry and the platform economy
  • Legally binding digital copyright registration
  • A lack of trusted and consolidated data globally
  • Fraud (i.e. secondary markets, unauthorized usage, data tampering)
  • Administrative inefficiency
  • Non-transparent management of agreements
  • Slow cash flow and unclear money allocation
  • Global collection of usage value
  • Speed of innovation
  • Economic and political challenges (i.e. emerging markets, currency volatility, instability, regulation)

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