Tech Mahindra a provider of digital transformation, consulting and business reengineering services and solutions on Wednesday announced the launch of a new digital platform, branded as 'Blockchain based Contracts and Rights Management System' (bCRMS) for the global media and entertainment industry. The platform is designed to enable production houses and content creators to track revenue, royalty payments, manage rights and address content piracy by leveraging IBM blockchain, said a release.
Tech Mahindra’s bCRMS platform is built on open source Hyperledger Fabric protocol and utilizes techniques like content hashing and forensic watermarking to track and trace content. The technology is industry agnostic and thereby it can be used across other industries like trade, finance and healthcare that have a requirement for intellectual property and secured digital content. Built on IBM Blockchain, the platform will restrict unauthorized access and redistribution of digital content, mitigate content piracy and manage royalty payments. The platform is designed to be scalable and empowers artists, fulfilment partners and distributors with a clear, automated system for accessing and managing payments.