Microsoft and EY set Blockchain Royalty Payment Platform

Microsoft is to run a blockchain platform that will keep track of collecting and disbursing royalty payments for software developers, musicians and authors
22 June 2018   464

The system will successfully cut out third-party, ‘middleman’ services that gather a premium for their services, gaining profits away from creators. Microsoft claimed that the platform, that has been stated in cooperation with Ernst & Young (EY), is going to establish its online gaming system. Microsoft has also collaborated with companies like Ubisoft to implement the system.

EY and Microsoft designed the solution to serve any industry where intellectual property or assets are licensed to other parties and where the creators are paid royalties based on royalty agreements.
Microsoft and EY,
Both Companies in a Statement 

Following the efficient deveopment, the platform is admitted to be susceptible of operation millions of transactions per day. Currently, getting a sing royalty payout can take as long as 45 days. Blockchain has long been referred as a perfect match for royalty payments - its transparency and immutability makes it impossible to forge or alter transactions; smart contract capabilities make it able to automatically collect and disburse payments.

Microsoft is the biggest leading firm to take the public dive into blockchain. Large entities across the tech and financial spheres, including IBM, JPMorgan, and Apple; in fact, Microsoft’s new platform was created using Quorum, a blockchain alloted by JPMorgan, along with Microsoft’s Azure cloud technology. 

As claimed in a statement issued by both companies, EY participates in a number of other blockchain initiatives, including the development of blockchain products for automotive services, a marine insurance blockchain platform, and a suit of blockchain audit technologies.

Bitfinex to List BCH' Chain Split Tokens

Bitfinex warned that support for BAB and BSV could be temporary
14 November 2018   56

The Hong Kong cryptocurrency exchange Bitfinex has listed the so-called Chain Split tokens for the two implementations of the Bitcoin Cash protocol. Bitcoin Cash hardfork is planned on 15th of November.

BAB [Bitcoin ABC client] and BSV [Bitcoin SV client] tokens will be traded in pairs with Bitcoin and the US dollar. The Token Manager tool will allow users to convert their Bitcoin Cash into one of the tokens. This process is reversible, Bitfinex emphasized. At the same time, marginal trade in tokens will be unavailable.

After snapshot of the network, the corresponding coins will be automatically converted into BAB and BSV onchain tokens, and all current Bitcoin Cash holders will receive an equivalent number of coins. However, if the user has a short BCH position at the time of the snapshot, the margin will be canceled, and the borrower, if he does not have enough tokens, will have to cover the negative balance sheets until December 31.

Bitfinex also warned that support for BAB and BSV could be temporary, and that as soon as all negative balances were covered, the exchange could delist them, allowing limited time for withdrawal.