The Bitfury Group has launched a music entertainment division for developing open-source music platform, dubbed SurroundTM, secured by blockchain to help artists and other rightsholders.
Speaking on the technology, Stefan Schulz, CEO of SurroundTM, explained:
“The Surround ecosystem will foster transparency and trust, save administrative costs and improve a secure and transparent flow of content from artists to consumers on the blockchain, making efficiency gains available to all market participants fairly.”
As a reminder, last November, the Bitfury Group, raised $80 million. Investors included a merchant bank founded by billionaire Mike Novogratz. The global Bitcoin tech company now has a valuation of $1 billion.