Tech Mahindra Launches Blockchain-Based Platform For Media And Entertainment Industry
Tech Mahindra Launches Blockchain-Based Platform For Media And Entertainment Industry
July 9, 2020
Tech Mahindra Launches Blockchain-Based Platform For Media And Entertainment Industry
Tech Mahindra Launches Blockchain-Based Platform For Media And Entertainment Industry
July 9, 2020

Indian multinational technology company Tech Mahindra has launched a new blockchain-based digital contracts and rights platform for the media and entertainment industry using IBM Blockchain.

The platform is developed using IBM’s blockchain platform, leveraging the open-source Hyperledger Fabric protocol.

The platform system aims to help producers and content creators in various arenas such as:

  • efficiently track their revenue
  • royalty payments
  • digital rights

The platform- known as the “Blockchain Based Contracts and Rights Management System” (bCRMS) can act as a key tool for preventing digital piracy.

On July 9, a statement highlighted by Tech Mahindra’s blockchain and cybersecurity practice leader Rajesh Dhuddu noted that for the media and entertainment industry, revenue lost due to online piracy is estimated to hit roughly $50 billion by 2022.

ALSO READ :  English Rock Band “Muse” Teams Up With Dapper Labs

Dhuddu said that bCRMS aims to:

“enhance revenues, pre-empt contracts or rights infringement and focus on redefining end customer’s content consumption experience.” 

The system will provide a secure digital rights management system that can monitor authenticity, authorized usage and downloads of online content in real time.

The platform will also provide content creators with an automated management system for their payments.

Moreover, all users of the new system, including linear broadcast and over-the-top service providers, will have access to the IBM public cloud ecosystem via Tech Mahindra.

Development of bCRMS is part of Tech Mahindra’s TechMNxt charter which is aimed at developing blockchain technologies and other solutions to help its clients to innovate their digital strategies.

ALSO READ :  Singapore Government's Tribe Accelerator Secures $15.7M For Startups

Source: Cointelegraph | Image: Unsplash

Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Jafrin Ahmed

Crypto newbie passionate about creating resourceful content on blockchain technology, cryptocurrencies and decentralized apps.
Share This

Share This

Share this post with your friends!