EY Launches Blockchain Content Rights Platform with Microsoft as Partner | CCN

The solution aims to have a real-time visibility of transactions that will hopefully give market participants an insight into the market and better understand the dynamics that underlie the industry. Apart from this, one of the major issues they solve by utilizing blockchain technology is overcoming operational inefficiencies and eliminate manual reconciliation. This speeds up the overall process and polishes the workflow. This new blockchain based solution helps Microsoft’s affiliates gain insights into the transactions much quicker, as compared to 45 days or more on legacy systems.

According to a report by the US department of commerce, core copyright industries grew by 4.8% year over year during 2012-2015, which stood at a massive $1.2 trillion as of 2015. This reflects the explosive growth in the sector and the potential for blockchain technology-based systems to disrupt the space.

Source: EY Launches Blockchain Content Rights Platform with Microsoft as Partner | CCN, June 24, 2018