Microsoft And Ernst & Young Will Develop A New Blockchain Platform

EY and Microsoft will develop a blockchain-based platform that will allow Xbox gaming partners as well as artists, musicians, writers and other content creators to track and manage royalty contracts.

The companies plan to integrate artificial intelligence (AI) and machine learning into the platform to digitize contracts faster and more efficiently. The platform will also generate and integrate statements and invoices with greater speed and greater transparency.

The companies say this new platform will cut processing times by 99%. In load testing, the blockchain platform handled 2 mln transactions per day. According to EY Global Blockchain CEO Paul BRODY, blockchains have the potential to be the nexus that digitizes interactions between enterprises.

Image: BCTech Report