How EY and Microsoft Are Unlocking New Uses for Blockchain

The video discusses a blockchain solution for managing content rights and royalties in the media industry, focusing on Microsoft's Xbox platform. It highlights the complexity of contracts and the potential for blockchain to simplify these processes. The collaboration with Microsoft aims to scale the solution, making it the largest industrial blockchain. The video also explores future applications in various industries and differentiates between cryptocurrencies and blockchain technology, emphasizing the latter's potential for intercompany collaboration using fiat currency tokens.

What is the primary focus of the blockchain solution discussed in the media and entertainment industry?

• Developing new gaming consoles

• Enhancing user experience

• Managing content rights and royalties

• Improving gaming graphics

How does the blockchain solution plan to expand beyond video games?

• By integrating with social media platforms

• By focusing solely on Microsoft products

• By developing new gaming software

• By applying to all ranges of intellectual property

What platform was chosen to address the scaling challenges in the blockchain solution?

• Ethereum

• Bitcoin

• Quorum

• Ripple

What is the expected transaction capacity of the blockchain solution when fully deployed?

• 5,000,000 transactions a day

• 1,000,000 transactions a day

• 500,000 transactions a day

• 2,000,000 transactions a day

What is the foundational principle of EY regarding blockchain technology?

• Blockchains will do for ecosystems what ERP did for single enterprises

• Blockchains will only be used for financial transactions

• Blockchains will replace all traditional databases

• Blockchains will eliminate the need for cloud computing

What is the long-term future of blockchain technology according to the transcript?

• Replacement of all physical currencies

• Limited to the gaming industry

• Intercompany collaboration with fiat currency tokens

• Exclusive use of cryptocurrencies for payments

What is the main advantage of using fiat currency tokens in blockchain transactions?

• They are more secure than cryptocurrencies

• They are universally accepted and familiar

• They are less expensive to use

• They are faster to process