The new blockchain solution, created in tandem between Microsoft and EY, can be used in any industry in which intellectual property or assets are licensed. The current infrastructure used to manage the distribution of royalties generated via licensing handles millions of transactions daily, which equates to the remittance of billions of dollars in royalties every month.
Microsoft and EY’s new platform intends to do for licensing and royalty remittance what Ripple did for cross-border inter-bank remittance– reducing operational efficiencies and streamlining costly manual reconciliation process present within the current gaming industry.
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