- The Xbox blockchain platform has been expanded to help video game content creators get paid faster and with more transactional transparency
- The Xbox Enterprise Blockchain Platform launched in 2018, and this is its first major upgrade
- The upgrade has reduced the processing time by 99%
The Xbox blockchain platform has been expanded to include a financial system for recording gaming rights and royalties management. The Xbox Enterprise Blockchain Platform, which is a collaboration between Microsoft and professional services firm EY, has expanded the platform to allow its network of artists, musicians, writers and other content creators increased visibility into the tracking, management and issuing of blockchain royalty payments.
Upgrade Reduces Processing Time by 99%
The Xbox blockchain platform was launched back in June 2018 with the express purpose of automatically managing the complex network of content creators and their royalty payments. Built on the Quorum blockchain and utilizing the Azure cloud computing system, the Microsoft/EY collaboration has been successful in its goals, but after two years of operation the system is set to be expanded in order to allow content creators to get paid faster and track their payments.
With its new expanded Xbox blockchain platform, Microsoft is able to use artificial intelligence (AI) in order to accelerate contract digitization and process and record royalties with greater speed, visibility, and transparency, all of which leads to a reduction in processing time of 99%.
Xbox Blockchain “Helps Raise the Bar for Enterprise Integration”
Paul Brody, EY Global Blockchain Leader, hailed the development, saying in a press release that “Blockchains could well become the glue that digitizes interactions between enterprises” and adding that “solutions like this help raise the bar for enterprise integration”.
Microsoft has been a heavy adopter of blockchain technology, ranking as the top Blockchain-as-a-Service provider by researcher ABI in 2018 and even launching its own range of NFTs last year.