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EY, Microsoft Launch Blockchain Solution To Track Rights And Royalties

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EY and Microsoft joined together to launch a blockchain solution for content rights and royalties management in the gaming industry. The move aims to streamline the costly and time-consuming processes, by reducing processing time and faster tracking of royalties.

Microsoft and its game publisher partners will deploy the solution initially. Ubisoft, a Microsoft gaming partner, is testing the solution.

In a statement, the companies said the blockchain solution can be applied to any industry where intellectual property or assets are licensed to other parties, and where the creators are paid royalties based on agreements.

At present, the royalty calculations are mostly manual among the value chain, which can include authors, song writers, production houses, developers and more.

The new blockchain-based rights and royalties management solution would enable increased trust and transparency between industry players. It is expected to significantly reduce operational inefficiencies in the process, and eliminate the need for costly manual reconciliation and partner reviews.

The solution would also help in accurate and real-time calculation of each participant's royalty position.

The solution is built using the Quorum blockchain protocol and Microsoft's Azure cloud infrastructure and blockchain technologies.

Microsoft intends to deploy the rights and royalties blockchain network with interested gaming partners in a phased manner.

Further, the companies will explore opening the solution to other partner organizations for royalties-related transactions on everything from software to digital media.

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