The Bitfury Group announced the launch of the industry-oriented music and entertainment division, which is working to create a music platform based on the blockchain of bitcoin. This is reported by Reuters.
The company's statement said the SurroundTM platform will be open source and will promote collaboration and innovation in the music industry.
In particular, SurroundTM will be designed to optimize secure transfer of assets in the field of copyright, providing improved monitoring and management systems.
As the head of the new Bitfury Surround division, Stefan Schulz, stated, the development of the platform has already begun and several of its important components are ready. The exact timing of the launch of SurroundTM, however, is not called yet.
It is also reported that Bitfury Surround operations will be carried out from offices in Amsterdam and Berlin. In addition, it is planned to open additional offices in Los Angeles, Tokyo, Seoul and Moscow.
Late November 2018, Bitfury Group raised $ 80 million in a closed round of financing from institutional and private investors, after which its capitalization rose to $ 1 billion.