fbpx
Ultimate magazine theme for WordPress.

Microsoft and EY launch new Blockchain-based solution

77

Professional services firm EY and Microsoft have announced a Blockchain-based solution for content rights and royalties management. Aiming to streamline the costly and time-consuming processes in entertainment rights and royalties, the solution is first being deployed within gaming with Microsoft and its game publisher partners, EY said in a statement.

The Blockchain-based service is powered by Microsoft’s Azure Cloud platform. The royalty calculations along the value chain are currently mostly manual and generally managed via offline data sources.

“This solution helps demonstrate our ability to enhance trust with our gaming partners, and strengthen security, transparency and payment accuracy through the power of Blockchain,” said Brad Wright, Partner, Software Engineering Manager, Microsoft.

In addition, the solution aims to provide near real-time visibility of sales transactions to the participants in the Blockchain network. Microsoft’s gaming partners participating on the network will get improved visibility to the transactions versus the legacy process, which could take up to 45 days or more.

The participating partners will be able to generate accounting accruals on a daily basis and use the timely data to improve their forecasting. “The scale, complexity and volume of digital rights and royalties transactions makes this a perfect application for Blockchain,” said Paul Brody, EY Global Innovation Leader, Blockchain.


If you have an interesting article / experience / case study to share, please get in touch with us at [email protected]

Get real time updates directly on you device, subscribe now.

Advertisement

Subscribe to our newsletter
Sign up here to get the latest news, updates delivered directly to your inbox.
You can unsubscribe at any time
Comments

Join Our Newsletter Today!

Stay updated with all latest updates from the world of Business Technology, get exclusive invites to our upcoming events & much more.
Subscribe Now!
SUBSCRIBE NOW
close-link