Bitfury Surround

2019: Start

On January 16, 2019 the Bitfury Group company announced Bitfury Surround start: the division in Bitfury Group will be engaged a solutions blockchain for the musical industry, helping to solve problems which contractors, producers, owners and stakeholders daily face.

According to the company, creation of musical open source of the platform based on a bitcoin blockchain will be the first Bitfury Surround project. The Surround platform provides a uniform ecosystem for cooperation and also necessary conditions for application development and the innovative development of the industry.

The Surround platform provides reliable tools which provide safe data transmission, protected by copyright, optimize interaction between players of the industry, allow to manage the content more effectively. Thus, Surround is the open digital ecosystem compatible to different formats which allows to exchange safely assets and to monetize content protected by copyright.

The musical industry for January, 2019 faces a number of the difficulties connected with use of competitive and incompatible technologies. All ecosystem also suffers from a lack of transparency. We want to help contractors and owners and to stimulate growth of all industry, creating the open platform based on a blockchain. Valery Vavilov, chief executive of CEO Bitfury

The Surround platform as of 2019 will provide such opportunities as:

• Conclusion of agreements of SLA (Service legal agreement)
• Compatibility of protocols and possibility of carrying out audit
• Safe assignment of rights and assets on network a blockchain
• Carrying out payments
• Reliability and invariance of data
• Copyright protection: using technology of an ankoring and the decentralized time marks
• The tools of open economy (unified by API, management of smart contracts, a feast - that are a feast structure)
• Artificial intelligence and machine learning
• Collective ownership of assets

The platform will help to solve for January, 2019 a number of problems, relevant for the industry, such as:

• Existence of a gap between creators of content and platforms of monetization
• Problem of legal registration of digital copyright
• Lack of the authentic and consolidated data of the music world
• Fraud (for example, secondary markets, not authorized use, substitution of data and so on)
• Poor control of assets
• Opaque management of agreements
• Slow cash flow and their opaque distribution
• Lack of a possibility of global collection of data on use of content
• Slow mastering of innovations
• Problems in economic and political spheres

Together with Surround existing and future owners - such as contractors, trademarks, publishers, group societies, services of line broadcasting, consumers and developers - will be able to act is transparent and to receive sure gains from use of technology of a blockchain.

The ecosystem of Surround is based based on a blockchain platform open source of Bitfury Exonum. It will create a transparent environment for all market participants, strengthening trust and cooperation at each level. The open ecosystem will allow all industry to move to the following level, increasing income and expanding opportunities for all concerned parties.

To simplify participation in the project, the Surround platform will be founded as cooperative, allowing participants to implement the new business ideas. Existence of a single platform will allow to reduce the existing gap in questions of profit earning by market participants. Thanks to it the value of the project will be defined by real activity of its participants.

The headquarters of Bitfury Surround will be in Europe, and additional offices - in Amsterdam and Berlin. Besides the next division will conduct activity in Los Angeles, Tokyo, Seoul and Moscow.

The post of the CEO in this musical division will be held by Stefan Schultz, the veteran from the industry musical a razvlecheniya with more than 20th summer experience and the director of business development in Vivendi. According to Schultz Bitfury Surround will strengthen the rights of contractors, providing them and their business partners more control over creation and monetization of content and also creation of the innovative solutions. The platform considerably will expand possibilities for distribution and collecting of the fees within global market of musical entertainments.

Music, perhaps, is the most powerful currency for January, 2019 where emotions, globalization and volatility of a consumer behavior govern. However the general value of the musical market for January, 2019 is lower, than in the late nineties. The technology of a blockchain complemented with artificial intelligence will correct a situation and will lead us to an era of exponential stable growth for all industry. The ecosystem of Surround ecosystem will increase degree of transparency and trust, will help to reduce administrative costs, to improve and protect a transparent flow of content from the contractor to the consumer through infrastructure a blockchain, allowing to increase efficiency and also guaranteeing justice for all participants. Stefan Schultz, executive vice president of Universal Music Digital

The head of Bitfury Russia Dmitry Ufayev told that Bitfury Surround will be well apprehended by the musical industry in the country where there live many talented and popular musicians.

Unfortunately, process of issue of the fees in Russia not always fair and transparent. We are glad that the Surround platform will offer musicians an opportunity fairly to earn and is guaranteed to receive the money. Dmitry Ufayev, head of Bitfury Russia

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