Microsoft adopts Ethereum blockchain for gaming royalties
Enterprise Ethereum is beginning to show its impact as some of the largest companies in the world start to leverage the Ethereum network to solve complex business challenges.
For example, tech giant Microsoft and Big Four firm Ernst & Young announced the expansion of Microsoft’s blockchain-based solution to extend to gaming rights and royalties management.
Paul Brody, blockchain lead at EY, said that Microsoft’s blockchain solution for this particular use case is being conducted on a private Quorum network based on Ethereum.
Brody noted that this expansion will provide a financial system of record for royalty agreements, allowing Microsoft’s blockchain network to record contract creation, payment and reconciliation transactions associated with gaming rights.
Specifically speaking, Microsoft plans to use the expanded blockchain functions to enable its Microsoft Xbox gaming partners — along with its vast network of artists, musicians, writers & other content creators — to gain increased visibility into tracking, management & payments processing for royalty contracts.
Courtesy- Blockchain News