Tech Mahindra Limited, an Indian multinational technology company, recently announced the launch of a new digital platform. The new platform was developed using IBM’s blockchain platform and was announced on the 1st of July. It was also branded as “Blockchain based Contracts and Right Management System’ (bCRMS) for the media and entertainment industry.”
According to Tech Mahindra, “Blockchain-based Contracts and Right Management System (bCRMS) is based on the Hyperledger Fabric Protocol and helps production houses and content creators with several benefits that increase their revenues, manage rights and prevent content piracy.”
An advantage of the platform is the management of Contracts and Rights and settlement of any disputes. Another benefit of the new development is to “track and trace content rights distribution.” This prevents piracy of media content while providing encryption, watermark and content hashing. In addition, the platform also includes Royalty Management which serves production houses by tracking and auditing the inward and outward flow of payments.
Rajesh Dhuddu, Blockchain and Cybersecurity Practice Leader of the tech company said: