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Tech Mahindra launches the ‘Blockchain Based Contracts and Rights Management System’ on IBM Blockchain

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Indian Tech and IT services multinational company Tech Mahindra has launched a new digital platform dubbed the ‘Blockchain-based Contracts and Rights Management System’ (bCRMS) for the entertainment industry. BCRMS was created using the IBM blockchain infrastructure that uses the enterprise-grade open-source Hyperledger Fabric blockchain. The digital platform enables content creators and production companies to track revenue, pay royalties, manage rights and tackle content piracy, with the platform currently focused on video content. The system will also streamline the procedures involved in contracts and remunerations plus helps combat piracy

Is blockchain the ultimate solution to piracy?

In particular, the Indian tech firm is launching bCRMS solutions for both linear broadcast and over-the-top ( OTT) providers, such as video streaming networks. The emergence of online streaming services was welcomed with open arms to the digital content sector. However, its rise to prominence has led to other challenges such as content piracy.

The menace of digital content piracy is the main problem that Tech Mahindra is trying to solve by launching bCRMS. The issue of content piracy is echoed in a recent statement by Tech Mahindra’s Blockchain and Cybersecurity Practice Leader, Rajesh Dhuddu. He cited an estimate by Intertrust software company that online piracy will result in a $50 billion loss of revenue by 2022.

Tech Mahindra’s platform to provide online streaming services as well

The firm will achieve this by providing online content with an identifiable digital fingerprint that can help track it. The bCRMS platform uses tactics such as hashing and forensic watermarking to allow media and entertainment (M&E) companies to monitor and track where the content has been distributed. Tech Mahindra hopes that the new system will allow related companies to curb illegal access to and distribution of licensed material.

In addition, Tech Mahindra ‘s latest innovation provides an unalterable audit path and provides service providers with precise data on download and streaming data. bCRMS also provides streaming services and automates royalty payments. According to Dhuddu, the platform can “orchestrate the entire media content life-cycle workflow across pre-production, post-production and distribution phases to enhance revenues”.

Blockchain Technology Supported by Vodafone Used in University of Malta Elections

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Blockchain technology and cryptocurrencies have now been used in many sectors thanks to their advantages over traditional methods of finance. In particular, Blockchain has achieved an even greater index of popularity due to its use in industries other than finance.

According to new reports, the University of Malta has decided to integrate blockchain technology into its college election processes. The university claimed that cutting edge technology would help students make their choice in an efficient and transparent manner.

The University of Malta has recently revealed that its students enrolled in the Master’s program Blockchain and Distributed Ledger Technologies have created a dApp to enable students to vote. Students involved in the project are of the opinion that the application will be a step in the right direction towards a faster and easier way of counting the votes.

During such a tumultuous time, the university urged its students to develop a way in which they could vote safely within the confines of their homes. The university students used the decentralized digital identity platform provided by Vodafone, the British telecommunications giant, to carry out this task.

The Vodafone partnership makes the University of Malta the first college on the planet to use decentralized systems to facilitate elections.

Joshua Ellulk, the director of the University of Malta’s Centre of Distributed Ledger Technologies added that the university had benefitted greatly from the Vodafone support. In his words:

“At this time especially, given the current situation, it was important to have a remote voting mechanism in place that enables trust and transparency thanks to the blockchain-based solution. A main challenge to achieve this is onboarding users in a trusted manner – and digital identity platforms such as that provided by Vodafone provide a solution.”

One of the main aims of this venture was to give power back to the voters rather than hoarding all their information within a centralized entity. Individual voters can cast their votes on their application, which will later be verified via the digital identity system. The students made use of Vodafone’s DID platform which was launched to several organizations praising its use cases.

The University has admitted that there has always been a fear of voter manipulation in earlier elections. The most recent election was not threatened at least because of the transparent nature of the blockchain system. Ellul reiterated that the application made it possible for students to cast their votes from home, a step taken to flatten the curve of coronavirus infected patients.

The University of Malta launched its Master’s program last October with a pledge to create professionals adept in the field. Students are taught various areas surrounding blockchain, smart contracts, cryptocurrencies, and other decentralized technologies. Dapps such as the ones used by the university students is one of the examples of Malta’s acceptance of crypto, a sentiment that may or may not last long.