Bitfury to launch open-source music platform on the Bitcoin blockchain12

Bitfury, the London-based blockchain firm recently valued at $1 billion, announced last week that they were launching Bitfury Surround, its entertainment division focused on providing an open-source music platform. The platform, called SurroundTM, will allow users to share the copyright of songs and means artists immediately receive payment following each stream, with each level secured by the Bitcoin blockchain.

Other ventures to decentralize music ownership by storing audio-files on a blockchain network include RChain’s RSong dApp, but onboarding artists there has been slow. Still, Bitfury – which recently raised $80 million in its Series C – is enthusiastic that they can maximise participation on the new platform,  create an “open ecosystem,” and “foster fresh applications and promote innovation within the industry”, Reuters reported.

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