June 29, 2018
Microsoft, the technology titan responsible for the ubiquitous Windows system and more recently its investments in gaming, is also known for investing in the latest exciting technologies. However it has now appropriately decided to manage its employees’ royalties in the gaming department, using one of the most modern and notorious pieces of technology currently out there, which, thanks to cryptocurrency has engrained itself in pop culture, Blockchain.
The most likely explanation as to why Microsoft have started to use this technology in their gaming sector is that they are aware that, if not taken care of effectively, disputes over copyrighted content can have really damaging effects on a business. To make sure this blockchain system is as supportive as possible, it’s not just taking into account the work of the developers, but also the overlooked yet crucial contributors to what goes in to a video game. This includes the music designers and photographers and is not just Microsoft either, their partners such as Ubisoft are also trying out this new way of tracking content and royalties.
For a project as complex as this, Microsoft have teamed up with British accounting firm Ernst & Young, also known as EY, which is renowned in its industry, just as Microsoft is renowned in theirs. So with a partnership like this, what can go wrong? Microsoft can provide the technology and EY can provide the money expertise in this new business.
Another one of Microsoft’s contributions to this project is that this Blockchain system will be using Microsoft’s own Azure cloud system to store the data. The data in this case being the chain of information being completed throughout each transaction.
It is easy to understand why these companies have decided on Blockchain for managing content rights and the royalties attributed to the content. Using Blockchain enables you to see what is happening each step of the way and can therefore identify anyone who has interfered at any given stage of the development.
By all accounts, this is just the beginning. After determining whether this way of tracking data is workable for their gaming department, they hope this network will be one of the world’s biggest. With the combined power of Microsoft and Ernst & Young behind it, who’s to say that this Blockchain system won’t be a massive hit?