SoundVault’s Rights Management Platform to Exclusively Integrate on Blockchain Music Ecosystem
Bitfury Surround today announced that online music rights management company SoundVault has joined as its first strategic partner. SoundVault will integrate its technology and services exclusively into the Surround™ ecosystem when it launches in 2020.
Launched in January, Bitfury Surround is a music entertainment division of the Bitfury Group that will address challenges faced by artists and other stakeholders in the music industry notably through its open-source platform. The Surround platform will be a fully interoperable digital ecosystem for sharing and monetizing copyrights. It will enhance economic opportunity for the entire music industry by providing several blockchain-based management services, including the secure transfer of copyright assets. Other features of the Surround ecosystem will include continuous monitoring, advanced administrative services supported by artificial intelligence, and a global, comprehensive database of music rights and other critical information.
SoundVault’s end to end technology for innovative licensing, tracking and cue sheet solutions is used worldwide by artists, labels, publishers, broadcasters and collection societies. SoundVault will bring its expertise in rights management as well as its extensive tracking platform for licensing and copyright protection into the Surround ecosystem.
“The inefficient business of rights management and music licensing is primed for disruption,” said Stefan Schulz, CEO of Bitfury Surround. “By bringing the innovations of SoundVault into our blockchain ecosystem, we will better address the disparities faced by artists and other content creators.”
“SoundVault shares Bitfury Surround’s global vision of creating a new wave of equality, transparency, economic freedom and fairness to all artists and music rights holders,” said Graham Gabie, CEO of SoundVault. “We are looking forward to sharing our expertise and helping to build and incentivize the growth of the entire music industry through the creation of a collaborative and open, blockchain-based ecosystem.”