R3CEV Partners with Microsoft to Boost Banks’ Blockchain Adoption
Microsoft has recently entered into a strategic partnership with R3CEV to offer its Azure cloud-based infrastructure for the development of blockchian solutions. Microsoft has been making the right moves to capture the growing bitcoin and blockchain technology market. The technology giant today announced that it has entered into a partnership with R3CEV, the company behind the development of blockchain technology for the international banking consortium. According to a press release, Microsoft and R3CEV have struck a deal to use the former’s Azure cloud platform for implementing blockchain....
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Distributed ledger startup R3CEV has gained an additional three banking partners, raising the number of total banks involved to 25. Japan's Mizuho Bank, Nordea Bank - which operates in Northern Europe - and Italian bank UniCredit join the likes of Citi, HSBC, Barclays and Goldman Sachs in R3CEV's blockchain project which sets out to spread the use of the technology across the world's financial markets. David Rutter, R3CEV CEO, said in a statement:
The blockchain consortium led by R3CEV, a group of 42 global banks working on blockchain applications that includes JPMorgan Chase, Goldman Sachs and more, is now working with tech giant Microsoft. The full partnership, which was first tested back in January with a smaller group of R3’s members, gives the consortium access to more than just Microsoft's platform of Blockchain-as-a-Service tools. Charley Cooper, managing director of R3, told CoinDesk that the formal partnership came after a series of tests with other potential partners, including Amazon and IBM. A dedicated team of five....
Microsoft's Azure blockchain and its blockchain-as-a-service endeavor is now adding three new partners to its blockchain-toolkit platform, with one of them even providing a Bitcoin data service. Soon after launching its blockchain-based service for customers of its cloud platform Azure last month, Microsoft has been ramping up its partners who will serve as collaborators and service providers. Last week, Microsoft announced a new partnership with Ripple, the interledger protocol to its blockchain toolkit. In a new blog post by Marley Gray, Director of Technology Strategy for Financial....
If Microsoft Azure's CTO is right, R3CEV may have just been the beginning. Mark Russinovich envisions a world where every industry is involved in a blockchain consortium. In fact, since the network effect of a blockchain is only amplified by the number of participants, he thinks this future will prove inevitable as companies seek efficiency in numbers. And there's evidence so far to suggest that Russinovich is right. Since blockchain industry groups first began to pop up last year with the formation of financial consortium R3CEV, the rate those efforts being announced has only increased.....
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