Microsoft and EY have launched a blockchain solution designed to aid in contents rights and royalty management. The solution it rolling out as we speak to Microsoft's game publishing partners, with Ubisoft already experimenting.
The idea is to streamline the rights management process and ensure fast payment of royalties for creators. With it, Microsoft plans to cut out the manual review process by and offer increased trust and transparency.
“Deploying this blockchain solution will allow us to efficiently manage high volumes and automate processes, while at the same time improve partner satisfaction and enhance compliance,” said Grace Lao, general manager of finance operations, Microsoft. “Smart contract technology is far more flexible and scalable than any prior solution for managing business agreements. We look forward to deploying this solution across our gaming ecosystem and exploring additional blockchain applications for other finance processes at Microsoft.”
The Largest Enterprise Blockchain
The solution provides near real-time visibility for sales transactions, helping publishers get to market faster and gain better insights into purchased content. Traditionally, the process would take up to 45 days, significantly slowing down production.
The blockchain solution is powered by Microsoft Azure, with hopes to roll it out to more gaming partners in the near-future. For a game publishing giant like Ubisoft, it could prove a huge aid:
“We are always looking at how to leverage emerging technologies in all facets of our business,” said Loic Amans, Senior Vice President, Finance & Strategic Planning at Ubisoft. “The opportunity to collaborate with EY and Microsoft on blockchain use cases in the domain of digital contracts and royalties is truly exciting.”
If successful, the solution will quickly become one of the largest enterprise blockchain solutions, stretching across thousands of content partners and processing millions of transactions per day.