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   721

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.

Most Crypto-Optimists Live in Norway, Bitflyer Study

According to bitFlyer's poll on future of crypto, europeans believes cryptocurrency has future
24 April 2019   83

Most Europeans believe that in ten years digital currencies will continue to be in demand, but they do not have the same confidence about Bitcoin. This is reported by Cryptonews, citing a study of the bitFlyer.

10 thousand people from ten European countries took part in the online survey. Of these, 63% believe in a “bright future” cryptocurrency. However, not all Europeans are confident in the future of Bitcoin - only 55% believe that the first cryptocurrency will exist in ten years.

It is also noteworthy that, despite the fall in prices of most cryptocurrencies that lasted for almost a year, the majority of respondents positively assessed the prospects for the development of the market.

Most of the “crypto-optimists” turned out to live in Norway - 73% of the inhabitants of this Scandinavian country are convinced that a decade later, digital currencies will still be in society. This is followed by Italy (68%), the Netherlands and Poland close the top four (67% each).

The percentage of consumers who believe cryptocurrencies will still exist in 10 years’ time
The percentage of consumers who believe cryptocurrencies will still exist in 10 years’ time

But the exact form of cryptocurrency will exist, almost no one knows. Only 8% believe that they will become money, and 7% - a tool for investment or a means of preserving value.

The fact that Bitcoin is not generating as much support as other cryptocurrencies is in part a symptom of the market’s volatility, but is also a direct impact of the constant media attention that is associated to its volatility.

Andy Bryant

COO, bitFlyer Europe

He also added that the study demonstrated how much remains to be done to increase public awareness of the benefits and opportunities of cryptocurrencies.