Microsoft, E&Y to use blockchain technology to manage rights, royalties
Updated : June 25, 2018 01:09 PM IST
Microsoft and Ernst and Young (EY) are teaming up to explore the uses of blockchain technology in managing the rights and royalties of companies, a UK-based news business The Register report said.
The system is currently designed to serve any company that deals with intellectual property licensing and royalty payments. The gaming industry will be the duo's subject for testing the subject.
The system, according to the report, offers close to real-time insight into sales transactions and the smart contract architecture is designed to simplify how those owed royalties get paid.
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