Tech Mahindra adopts IBM Blockchain to power digital rights management for entertainment – SiliconANGLE Continue reading on SiliconANGLE
Tech Mahindra Ltd., a provider of business consulting for digital transformation and reengineering solutions, today announced a new digital platform that will be distributed ledger blockchain technology to enhance digital rights management for the entertainment industry.
The solution, named “Blockchain Based Contracts and Rights Management System,” or bCRMS, is aimed at helping production houses and content creators transform their rights management systems to streamline and secure the process of rights and royalty tracking and protect intellectual property.
The new bCRMS will make use of IBM Corp.’s blockchain-based Hyperledger Fabric protocol, which will provide the infrastructure to provide content hashing and forensic watermarking to allow tracking and tracing content. As a result, the platform can be used within other industries that require intellectual property and secured digital content management such as trade, finance and healthcare.
“Fragmentation in the media and entertainment landscape has had a profound impact on media consumption,” said Rajesh Dhuddu, blockchain and cybersecurity practice leader of Tech Mahindra. “Both media production houses and ‘over-the-top’ players are creating intriguing content to improve customer stickiness and gain market share. This has led to an exponential increase in fraud with revenue lost due to online piracy estimated to approximately $50 billion by 2022.”