Global technology aka blockchain is synonymous to technological advancement which has broken into almost all the existing industries across the world. The latest addition in the list is the music industry which has been introduced to this advancement through global bitcoin mining giant Bitfury Group. The company made an official announcement about the opening of its new music entertainment division, Bitfury Surround.
Bitfury Surround will be completely devoted to the use of blockchain and its applicable solutions. This division has been set up with the aim to address the prominent issues of the music industry such as artist assistance and copyrights. In addition to this, the division will be using an open-source platform called as SurroundTM to streamline a safe transfer of copyright assets, better monitoring of the network and management of the system.
Bitfury group is also looking forward to the partnerships, collaborations, and promotion of innovative ideas. In order to fulfill these goals, the company will set up this global technology powered platform for creating a digital system that will monetize intellectual property, sharing of information or trusted data and transparent management functions as mentioned by Digital Music News.
SurroundTM CEO, Stefan Schulz stated that the platform is being developed and worked upon. He also added that this system will help in saving the admin cost and improving the flow of content from artists to consumers through a blockchain platform.
Blockchain And Other Music Endeavours
According to Electronic Design, one of the finest developments happened lately in the music industry is the first independent smart speaker Volareo which supports the blockchain streaming platforms. These smart speakers are using global technology for tracking and playing of music, in fact, it also offers an altered method of paying for what you listen to. Indeed, this is the pioneering age of technological advancement in music.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]