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Bitfury launches an open-source blockchain based platform for the music industry

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Bitfury, a blockchain technology company announced today the launch of an open source music industry through a blog post.

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Available for users as Bitfury Surround the platform the describes itself as music entertainment platform based on blockchain technology “to address challenges faced by the artists and other stakeholders in the music industry.”

The platforms aim to foster “collaborations,” encourage “fresh collaborations,” and “promote innovation” in the industry.

Explaining its work it says, Surround will allow the whole “industry to streamline operations through secure transfer of copyright assets, streamlined connectivity as well as better monitoring and management systems.”

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Surround is the latest step in Bitfury ’s continuing expansion. This week it brought off-chain payment methods through Lightning Network into their first exchange ecosystem by partnering with Poland based BTCBIT.

Apart from this last month it also revealed its plans to launch a blockchain accelerator in Russia simultaneously with PwC, a global consulting giant.

In the words of Bitfury CEO Valery Vavilov, the platform wants to “champion artists and help incentivize the growth of the entire industry through the creation of this open, blockchain-based ecosystem.”

As the market is recovering after the blunder year of ICOs companies are trying hard to develop blockchain based platforms tied with real-world issues both to increase business and solve problems associated with the current models.

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