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Skip to the content EY Homepage Search Close search See all results in Search Page No results have been found Recent searches (container) See all results for Topics General People Trending The CEO Imperative: How has adversity become a springboard to growth? 8 Mar 2021 Transformation realized The CEO Imperative: Accelerate to get ahead of the changing consumer 5 Mar 2021 Future consumer index How can digital government connect citizens without leaving the disconnected behind? 24 Feb 2021 Government and Public Sector Explore Who we are What we do What we think Careers at EY Our locations COVID-19 Select your location Change No search results have been found Local sites Connect with us My EY log in Welcome to EY Global (EN) You are visiting EY Global (EN) Consulting EY Consulting is building a better working world by realizing business transformation through the power of people, technology and innovation. The nature of work is evolving fast, we’re all being asked to adopt new behaviors — to be more innovative, more agile, more collaborative, more everything. Business today is anything but usual. There is an urgency demanding we look ahead through a new lens, reframe the future and ask new and different questions: How do you create customer intimacy without proximity? Where does employee centricity meet the future of work? How can technology at speed create competitive advantage? Where does innovation at scale meet the new "S-curve" of growth? By placing humans at the center, leveraging technology at speed and enabling innovation at scale, our clients are transforming to realize long-term value for people, business and society as a whole. Read more Read less Featured thinking How can you transform from market leader to market maker? Amy Brachio 9 Jun 2020 Our latest thinking Show more Show less Previous Next Navigate COVID-19 with our enterprise resilience framework There are nine focus areas in our framework for building enterprise resilience. Get your checklist of actions relating to each area - for now, next and beyond COVID-19. Discover more The better the question. The better the answer. The better the world works. How blockchain helped a gaming platform become a game changer EY and Microsoft Xbox implemented a transparent blockchain network so creators could focus on developing the future of gaming. The better the question. The better the answer. The better the world works. How can technology help the gaming industry play fair? Our blockchain solution gives Microsoft Xbox an infrastructure that helps them manage and reward game creators. T he video game industry (which has a 2019 revenue forecast of $152b) 1 employs some of the brightest creative and technological minds. And while this marriage of creativity and technology was bringing enjoyment to the masses, Microsoft Xbox’s processes meant that game creators faced some unique challenges. Global gaming industry $152b of forecasted revenue, serving over 1.7 billion consumers worldwide. Microsoft Xbox’s legacy system for securing and managing royalty payouts was cumbersome, sometimes taking over 45 days to issue payments. This complexity wasn’t just causing mounds of paperwork; it was also creating anxiety for creators with small businesses and limited resources. Microsoft Xbox knew there had to be a smarter way to manage the process, so it engaged EY to implement a suite of smart digital solutions to address the problem. The better the question. The better the answer. The better the world works. A blockchain solution that integrates closely with game creators Together, EY and Microsoft Xbox are implementing smart digital solutions to help game creators do their best work. The $152b gaming industry serves over 1.7 billion consumers worldwide. This is enabled through partnerships between gaming platforms such as Xbox and thousands of developers, publishers, authors, designers, production houses and distributors. These relationships are all key in maintaining a high-quality product and attracting the best talent and creators to the platform. Microsoft Xbox and EY implemented a blockchain solution that seamlessly connected these parties and enhanced their experience by enabling fast, frictionless payment for their work. Smart contracts encode game creators’ IP rights The first step in refreshing the legacy systems was to introduce a new digital contract. By opting in, industry participants agreed to new terms with a simple e-signature. The legal terms were then encoded in the blockchain network in the form of smart contracts. An automated solution that brings down operational costs Building on the foundation of contractual transparency, EY focused on the royalty calculation system — a major pain point for Microsoft Xbox. The legacy system of calculating and distributing benefits was plagued by loads of unnecessary reviews and tedious manual processes. Delays in calculation and high operational costs were eating into the overall profits of the industry. By automating the entire system, EY helped Microsoft Xbox reduce the manual effort and significantly reduce the operational costs associated with processing payments for creators. Near real-time purchase records show game creators what they have earned While smart contracts were used to accurately calculate the royalty payouts for Microsoft Xbox’s partners, the next step was to securely and transparently share the information with them in near real-time. How EY can help Artificial intelligence consulting services Our Consulting approach to the adoption of AI and intelligent automation is human-centered, pragmatic, outcomes-focused and ethical. Read more Providing near real-time access to data greatly improves the process’s effectiveness, and insights that lead to a more enriching experience for the partners. Tim Stuart Xbox Chief Financial Officer at Microsoft As consumers purchase digital content, the smart contracts apply the encoded contractual logic and instantly calculate the royalty. This information is then sent to each participant’s node, creating an immutable record of transactions and royalty obligations. Not only does this provide creators peace of mind, it allows them to record financial transactions daily, vastly improving their forecasting and reporting capabilities. The better the question. The better the answer. The better the world works. A transparent blockchain ecosystem that empowers creators Microsoft Xbox’s new blockchain network is better for business and better for game creators. The technology solutions implemented in this project led to profound benefits – both for the Microsoft Xbox business and for its partners. By implementing a blockchain-based network and streamlined forecasting, creators, producers and Xbox all benefit from a more transparent and connected system. Microsoft Xbox now issues transactional details instantly, keeping creators satisfied. Because there is more trust in the process, game creators are once again empowered to spend money where it really counts — creating innovative new games. Show article references#Hide article references Newzoo: “US will overtake China as No. 1 gaming market in 2019,” Venturebeat, 18 June 2019, via Factiva. Direct to your inbox Stay up to date with our Editor's picks newsletter. Subscribe Transformation Realized Transforming businesses through the power of people, technology and innovation. Discover more Contact us Like what you’ve seen? Get in touch to learn more. email Explore our case studies Show more Show less Previous Next Transformation Realized Transforming businesses through the power of people, technology and innovation. Discover more Direct to your inbox Stay up to date with our Editor's picks newsletter. Subscribe How EY can help Customer experience When it comes to serving the customer of the future, the answers lie in being client-centric, especially in today’s world. Read more Customer engagement In today’s world of empowered customers, competitive advantage sh...