A New Blockchain Move From Microsoft.
Microsoft and EY announced the blockchain contract management platform for gaming partners and content creators.
A New Platform
EY and Microsoft are using a blockchain-based platform that will allow Xbox game partners, as well as related artists, musicians, authors and other content creators, to track and manage their copyright agreements, the companies announced Monday.According to the announcement, this move will be one of the biggest implementations of a blockchain-based financial tracking system “built on continuous collaboration between EY and Microsoft.”
What Will The Platform Do?
Companies are planning to integrate artificial intelligence (AI) and machine learning into the platform for faster and more efficient contract digitization. The platform will also create and integrate statements and invoices faster and more transparently.Companies claim that this new platform will reduce transaction times by 99%. The blockchain implementation has been tested to support high-volume usage i.e. two million transactions per day.
“Blockchains can become an element that digitizes interactions between businesses,” says Paul Brody, EY Global Blockchain Leader.