Microsoft Hopes Blockchain Will Help To Monitor Royalty Payments
Microsoft is expecting that blockchain will make it more comfortable and easier to monitor of who is owed royalties for their assessment to games.
The software program vendor joint with EY to develop the solution, which is designed on the Quorum blockchain protocol and “Microsoft’s Azure cloud framework and blockchain technologies”.
Quorum itself is a firm-specializing management of the core software over Ethereum. It is being headed by JP Morgan.
Microsoft indicated in an announcement that a great quantity of creatives introduced to the creation of a new game, and were typically then owed royalties for their work.
Nevertheless, the company mentioned that at the moment these royalty calculations are “mostly manual and generally managed via offline data sources.”
Microsoft and EY mentioned: “The embedded smart contract architecture is designed to enable accurate and real-time calculation of each participant’s royalty position, providing enhanced visibility for recording and reconciling of royalty transactions.”
Games editors would also gain by being able to more exactly predict how much they would have to pay out in royalties in the future.
Both EY and Microsoft mentioned they will study other consumers for the technology beyond the Microsoft’s game editor’s partners.