Bill Gates' company recently announced a partnership with Ernest & Young to use blockchain technology in royalty payments that involve Xbox games and content creators.
The company will create a decentralized system to track and manage royalty contracts from partners, content creators, musicians and artists from the gaming ecosystem, streamlining the payment of royalties and making the process more transparent.
The novelty is one of the largest implementations of a blockchain-based financial tracking system, also integrating artificial intelligence technology and Microsoft Azure capabilities for digitizing contracts. The network will also be able to generate and integrate statements and receipts, the famous invoices, with greater speed.
The system is capable of processing two million transactions per day, and according to Luke Fewel, Microsoft's financial operations manager, it was a success in the first round of testing.
It is not the first time that Microsoft has adopted blockchain technology in its projects and services. In October, the company announced a partnership to accelerate Brazil's integration into the digital economy. The company also brought the “Mais Brasil” project, a partnership with Microsoft to contribute and promote the country's growth. In addition to offering courses and promoting a free event on blockchain technology in Brazil and worldwide.