In an interview with Bloomberg on 20th June, EY global innovation blockchain leader Paul Brody outlined EY’s plans with Microsoft to create the “biggest blockchain in the world”. The project will initially focus on content rights and royalties management for media and entertainment industries, with gaming heavily referenced. Brody told Bloomberg:
The problem we’re trying to solve here is the incredible complexity of business contracts between Microsoft, especially to start with, Xbox gaming platform, and all the video game publishers that are out there. There are several thousand… every single one of them has unique contracts and rules for all the different countries. That is a hugely complex Intellectual Property problem that lends itself extremely well to being deployed on a blockchain.
Of course, the interview went on to examine the other areas in which this particular blockchain project could be useful. Brody said:
Rights and royalties for video games are very similar to movies and entertainment, music, books, patents. We’re working with Microsoft – we plan to put out this solution to all ranges of Intellectual Property, also to open it up beyond video games… to other companies in the media and entertainment and content business.
He went on to explain that EH have been equal partners with Mricosoft, and that the blockcahin they are creating will be the “biggest blockchain in the world”, with 2 million transactions per day and a better scalability than ETH and BTC combined.
We’re able to drop the time required to process transactions and tell partners how much they have coming by 99%… the biggest cycle time compression we’ve ever had in my career.
As for industries beyond Intellectual Property, Brody was quick to mention supply chain, logistics and manufacturing, all of which are already heavily in blockchain’s focus. He said that EH and Microsoft “believe that blockchain can do for ecosystems of companies what ERP did for the single enterprise.”
Image Credit: Bloomberg