Tech Mahindra to Launch Blockchain Based Platform for Media & Entertainment
Tech Mahindra, a digital transformation provider, consulting and business reengineering services and solutions on Wednesday, declared 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 intended to facilitate production houses and content creators to trace revenue, royalty payments, manage rights, and address content piracy by using IBM blockchain, said a release.
Tech Mahindra’s bCRMS platform is developed on open-source Hyperledger Fabric protocol and uses techniques like content hashing and forensic watermarking to trace and track content. The technology is industry agnostic, and thereby it can be utilized across other sectors such as trade, finance, and healthcare that require intellectual property and secure digital content. Created on IBM Blockchain, the platform will limit unauthorized access and redistribution of digital content, mitigate content piracy, and manage royalty payments. The platform is intended to be scalable and empowers artists, fulfillment associates, and distributors with a clear, automated system for accessing and managing payments.
Rajesh Dhuddu, Blockchain and Cybersecurity Practice Leader, Tech Mahindra, said in a statement, “Fragmentation in the media and entertainment (M&E) landscape has had a profound impact on media consumption. Both media production houses and OTT (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. As part of our TechMNxt charter, bCRMS is developed to usher in the next generation of digital rights management systems for the media and entertainment industry that orchestrate the entire media content life cycle workflows across pre-production, post-production and distribution phases to enhance revenues, pre-empt contracts or rights infringement and focus on redefining end customer’s content consumption experience.”
bCRMS is created to offer accurate, near real-time information and insights into the authenticity of the content and identify unauthorized use and distribution. Tech Mahindra is using bCRMS on IBM Blockchain for linear broadcast and OTT (Over-The-Top) service providers. Also, Tech Mahindra is part of the IBM public cloud ecosystem to support clients modify their operations, stimulate their hybrid cloud strategies, and utilize blockchain technology to promote trust and transparency over industries.
“Digital rights management is a pressing problem impacting artists, content creators, and advertisers worldwide, potentially costing the industry billions every year. Tech Mahindra’s innovation using IBM Blockchain helps address this challenge with a new approach that offers the digital media market the ability to track the quality and authenticity of content as well as track downloads and usage of content clearly and flexibly,” said Alistair Rennie, general manager, IBM Blockchain in a statement.
Under its TechMNxt charter, Tech Mahindra has maintained its focus on leveraging next-generation technologies, including blockchain, to disrupt and facilitate digital transformation, and to develop cutting-edge technology solutions and services for consumers globally. Tech Mahindra offers a holistic framework named ‘Block Ecosystem’ comprising various levers: Block Studio, Block Engage, Block Geeks, Block Talk, Block Accelerate, Block Access & Block Value, which can be utilized to build applications that are architected on innovation and human excellence. Tech Mahindra’s technologists can also support clients to make Blockchain-Platform-as-a-Service (BPaaS), System Integration, and Product Engineering Services on IBM Blockchain.