Utopia Foundation Announces Plans To Bring More Than $1 Billion Worth Of Tokenized Music Rights To Polkadot Date 15/01/2021 Utopia Genesis Foundation, the organization formed to support the development of an open platform for the music industry, today announced it will be moving from Ethereum to a Polkadot parathread this year, providing interoperability, consensus, scalability and security to Utopia users. This expansion will allow Utopia Genesis, which is currently running on a PoA blockchain with Ethereum interoperability, to offer its ecosystem applications with the full economic security of Polkadot's validator set.
The Utopia Genesis Foundation is creating a blockchain-based solution tailored to the music industry that will enable artists, producers, record labels and all stakeholders to operate by providing specific data intended to unlock a wider music ecosystem on the Utopia Open Platform. The Open Platform is an openly accessible, multi-layered and self-serviced portal used to develop applications using blockchain technology.