Providing near real-time access to data greatly improves the process’s effectiveness, and insights that lead to a more enriching experience for the partners,” Tim Stuart, Xbox Chief Financial Officer at Microsoft. While smart contracts were used to accurately and transparently process the royalties for Microsoft Xbox’s partners, the next step was to securely and transparently share the information with them in near real-time, cutting access to royalties from 45 days to 4 minutes. Near real-time purchase records show game creators what they have earned A user-centric interface adds a simple, well-designed interaction layer to the royalty distribution system for game developers. Automation of the system sped up the process, reduced the effort and provided more transparency to participants, while at the same time maintaining a high degree of privacy and confidentiality between Microsoft and the game publisher. The existing system of processing and distributing royalties was plagued by loads of reviews and tedious manual processes. An automated solution that brings down operational costsīuilding on the foundation of contractual transparency, the team focused on providing improved transparency to the game publisher for the royalty processing - a major pain point for Microsoft Xbox. By opting in, industry participants can review and validate that onboarded digital contracts are the same as the royalty contracts in a confidential manner. The legal terms were then encoded in the blockchain network in the form of smart contracts. The first step in refreshing Microsoft’s legacy systems was to onboard royalty contracts onto blockchain in the form of digital contracts. Smart contracts encode game creators’ IP rights Microsoft and EY teams’ joint capabilities and suite of digital solutions became a game-changer, helping Microsoft Xbox reduce the manual effort and the operational hours associated with processing royalties for publishers through automation of the royalties processing, starting to transition off the legacy system. Microsoft Xbox and EY worked together as one team to help deliver a transformation.
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