Tech Mahindra Employs IBM Blockchain in New Platform to Combat Digital Piracy

Published at: July 8, 2020

Tech Mahindra, the IT subsidiary of Indian conglomerate Mahindra Group, has launched a new blockchain-based digital contracts and rights platform for the media and entertainment industry.

Developed using IBM’s blockchain platform, which leverages the open-source Hyperledger Fabric protocol, the system aims to help producers and content creators efficiently track their revenue, royalty payments and digital rights.

Dubbed the “Blockchain Based Contracts and Rights Management System” (bCRMS), Tech Mahindra has pitched the platform as a key tool for preventing digital piracy.

In a statement on July 9, Tech Mahindra’s blockchain and cybersecurity practice leader Rajesh Dhuddu noted that for the media and entertainment industry, the revenue lost due to online piracy is estimated to hit roughly $50 billion by 2022.

Dhuddu said that bCRMS aims to “enhance revenues, pre-empt contracts or rights infringement and focus on redefining end customer’s content consumption experience.” 

It will do so by providing a secure digital rights management system that can monitor the authenticity, authorized usage and downloads of online content in real time. The platform will also provide content creators with an automated management system for their payments.

All users of the new system, including linear broadcast and over-the-top service providers, will have access to the IBM public cloud ecosystem via Tech Mahindra.

Development of bCRMS is part of Tech Manidra’s TechMNxt charter, through which the IT giant is developing blockchain technologies and other solutions to help its clients to innovate their digital strategies.

Tech Mahindra makes notable investments in blockchain technology

Earlier this year, Tech Mahindra became the first Indian business to use R3’s blockchain-based Marco Polo Network for conducting cross-border transactions. It has also recently launched a blockchain accelerator in partnership with the government of the Southern Indian state of Telangana.

Last year, Tech Mahindra developed a blockchain-based financial management and insurance solution together with American distributed ledger technology firm Adjoint and also announced a blockchain-powered anti-spam phone call initiative, designed to help telecoms firms to protect their clients from unsolicited calls.

Tags
Adoption
Blockchain
Business
Ibm
Hyperledger
Related Posts
IBM contributes blockchain platform code to Hyperledger to drive enterprise blockchain adoption
The global blockchain technology market size is projected to reach $72 billion in the next five years. In order to ensure this growth, however, blockchain solution providers must continue to advance and innovate. For example, public enterprise blockchain use has become an ongoing trend this year as companies like ConsenSys aim to drive adoption for open, permissionless networks. On the flip side, it’s important to point out that private blockchains are still being leveraged by enterprises and will continue to be utilized as innovation continues. Advancing open, permissioned blockchain networks Most recently, computing giant IBM announced that it has open-sourced …
Adoption / June 11, 2021
First Hyperledger-based cryptocurrency explodes 486% overnight on Bittrex BTC listing
A little-known altcoin known as Metacoin (MTC) surged to 486% gains in just 24 hours on Jan. 18, after Bittrex Global announced it would be listing the coin against Bitcoin (BTC). Metacoin is built on the Hyperledger network, an umbrella project of open-source technologies focused around building permissioned blockchain ecosystems for large cross-industry enterprises. Metacoin became the first cryptocurrency of Hyperledger’s to achieve mainnet status when it went live in 2018. Hyperledger was founded by the Linux Foundation, and is overseen by a host of “premium members”, comprising leading technology and finance companies, such as IBM, J.P. Morgan, Fujitsu, Hitachi, …
Technology / Jan. 18, 2021
Blockchain Could Help to Boost Global Jobs Creation
A report published by the World Economic Forum, or WEF, highlighted the critical role of fourth industrial revolution technologies. New technologies like blockchain could help stimulate growth by implementing “nature-positive” solutions following the COVID-19 outbreak. According to the “Future of Nature and Business” study shared with Cointelegraph, nature-friendly solutions could have the capacity to create 395 million jobs and generate $10.1 trillion in business opportunities by 2030. Inger Andersen, United Nations Under-Secretary-General and Executive Director of the UN Environment Program, commented on the matter: “As we enter into a historic decade of action to halt and reverse biodiversity loss by …
Adoption / July 14, 2020
Token Trading Platform From Russia’s Richest Man Enters Testing Phase
Russia’s richest man, Vladimir Potanin, is making steady headway with his blockchain-based trading platform for industrial assets and commodities. The billionaire’s venture, dubbed Atomyze, launched today, Feb. 25, in test mode. Potanin’s mining and smelting firm Nornickel will be the first to issue tokens on the platform, which is designed to speed up transactions, enable surplus supply trading and cut back on the red tape needed for interactions between customers and businesses. Atomyze is based on IBM’s Hyperledger Fabric blockchain technology, and Nornickel’s partners Trafigura, Traxys, and Umicore have been invited to participate in the platform’s testing phase. In an …
Blockchain / Feb. 25, 2020
Climate, blockchain and CBDCs: An interview with Hyperledger’s Karen Ottoni
“Cryptocurrency is just one use case for blockchain,” Karen Ottoni, director of ecosystem at Hyperledger, told Cointelegraph in an interview during Paris Blockchain Week. The list of blockchain-applicable ideas is numerous and growing, including “supply chain and trade, finance and capital markets, tokenizing green bonds and tokenizing real estate.” Hyperledger Foundation's bread and butter is to support the development and deployment of its open-source enterprise-grade blockchain technologies for projects such as “managing food, fish, diamonds, minerals — the supply chain,” Ottoni told Cointelegraph. While Hyperledger works in every industry, its impact on climate change and climate action is what most …
Adoption / April 22, 2022