Microsoft and Bank of America Begin Making Beautiful Blockchains Together
It wasn’t but a couple of years ago when the world’s largest banks and corporations were busy dismissing and openly mocking Bitcoin and anything associated with it. Now, the world’s largest corporations can’t get enough of its technology and now refuse to be left to their own patchwork of systems that Bitcoin has now made obsolete. On Tuesday, Microsoft and Bank of America/Merrill Lynch announced a new landmark partnership to use Bitcoin’s Blockchain technology to improve financial transactions between consumers, business, and the banking industry. The announcement was made at the annual....
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Bank of America and Microsoft have announced their intent to build and test blockchain applications for trade finance. As part of the deal, Bank of America will work directly with Microsoft Treasury (a group responsible for managing transactions related to its corporate treasury activity and strategic business investments and acquisitions), to establish a blockchain system that can facilitate transactions between the companies. In statements, Microsoft executive vice president and CFO Amy Hood indicated that the move is driven also by its desire to reduce treasury risk. Hood said:....
Technology giant Microsoft and financial institution Bank of America Merill Lynch have announced a collaboration with the aim to “fuel transformation of trade finance transacting”, with blockchain technology. In an announcement at the annual SWIFT-organized Sibos conference, Microsoft and Bank of America Merrill Lynch underlined their collaborative aim to usher in blockchain technology to transform the trade finance sector. The collaboration is only the latest in an increasing number of endeavors between the financial and technology industries to explore and develop blockchain solutions.....
Microsoft, the famous multinational corporation that powers much of the world's computing infrastructure with its Windows OS, now accepts Bitcoin online for its digital products. Microsoft users, in America only for now, can even fund their Microsoft/Windows Live or XBox Live accounts using Bitcoin, at the current exchange rate. Once Microsoft's Bitcoin acceptance is at 100%, businesses and end users alike can pay for services such as Azure or even Windows Phone apps. Once Microsoft starts accepting Bitcoin worldwide, the frictionless transactions will truly begin to flow. With $86.63 b in....
Bank of America has become the latest major bank to make a foray into the cryptocurrency sector. According to an internal memo, the bank has created a team dedicated to researching cryptocurrencies. Bank of America believes that it is “uniquely positioned to provide thought leadership” on cryptocurrencies and the technology behind them. Bank of America (BOFA) has created a new team dedicated to researching cryptocurrencies, according to an internal memo seen by Bloomberg. A spokeswoman for the bank confirmed the contents of the memo. The new crypto team will be led by Alkesh....
As business giants and governments are moving to explore Blockchain, the distributed ledger system that is behind Bitcoin, Microsoft is to build a “Certified Blockchain Marketplace”. Microsoft Azure platform. Bitcoin’s value had earlier seen a $20 surge when Microsoft had announced plans to integrate Bitcoin into its Windows and Xbox digital payments system, though the initiative failed to garner widespread support. However, Microsoft is now moving forward and experimenting with the technology behind Bitcoin, Blockchain - the distributed ledger system on which Bitcoin and other....