| The name of the base system (platform): | Microsoft Azure |
| Developers: | Microsoft, EY - Ernst&Young |
| Date of the premiere of the system: | June, 2018 |
2018: Announcement of a product
On June 20, 2018 EY and Microsoft announced creation of a payment system of a royalty for use of different types of intellectual property using blockchain technology. The solution which call one of the largest a blockchain projects of the corporate level received the name Rights and Royalties Management Solution.
The companies aim to optimize expensive and labor-intensive processes of tracking and collecting of payments for use of copyright in the field of entertainments. According to EY and Microsoft, the difficult character and huge scales of digital data do this task by an ideal site for application of a blockchain. For a start Microsoft is going to implement a system in the gaming sphere. The Ubisoft company, one of the largest developers of games, undertook testing of it a blockchain tool.
EY and Microsoft developed Rights and Royalties Management Solution technology which can be used in any industry where the intellectual property is transferred to the third parties. Royalty on a value creation chain in this case usually are calculated manually through autonomous data sources. The new solution by calculation of a royalty should provide the transparent system of auditor accounting in real time, considerably increase efficiency of process of management of the rights and eliminate need for expensive manual approval of calculations between partners.
Quorum blockchain protocol allowing to save confidentiality of agreements at transparency of a payment system and the platform of cloud computing Azure is the cornerstone of this system. Game Microsoft partners will have an opportunity to process millions of transactions a day and to replace traditional royalty payment which takes up to 45 days, fast daily payments. Participating partners will be able to monitor charges and timely to use up-to-date data for amending work.
Microsoft intends to implement step by step this blockchain tool in work with all the partners for what she should convince numerous developers to join a system and to adapt to use of smart contracts and the decentralized solutions. It is supposed that this system will process millions of transactions a day.[1]
Notes
| The site content is translated by machine translation software powered by PROMT. The machine-translated articles are not always perfect and may contain errors in vocabulary, syntax or grammar. Read original article If you find inaccuracies or errors in the results of machine translation, please write to editor@tadviser.ru. We will make every effort to correct them as soon as possible. |