A Cleveland, Ohio resident and business owner, Mike Spolar is the owner of Spolar, Lackey & Company, CPAs, an accounting firm that provides payroll bookkeeping, business consulting, and monthly/quarterly write-up services for clients. Previously, Mike Spolar worked for accounting giant Ernst & Young (EY).
In December 2020, EY and technology giant Microsoft announced the expansion of the latter's blockchain solutions for generating gaming rights and royalties. The expanded blockchain will allow Microsoft to accelerate contract digitization. This translates to faster generation and integration of contracts, invoices, and statements. The expansion will also result in more efficient processing of royalties.
The expanded blockchain functions will assist Microsoft Xbox partners and its network of writers, artists, and musicians with tracking payment processing and management of their royalty contracts. EY expects this innovation to help its business-to-business clients with multiparty cash flow similar to that used in blockchain to automate contract-related calculations and processing.
