Inside Bank of America's New Microsoft-Powered Blockchain Project
Microsoft has been digging deep into the data created by its $120bn treasury unit in search of real-world use cases where blockchain could cut costs. Culling through this trove of information, Microsoft's newly appointed principal program manager and lead blockchain engineer, Marley Gray, searched for pain points and labor intensive processes that were adding complexity and error to his company's operations. But the fact that an executive like Gray would be allocating time to such an endeavor is perhaps not surprising. Since helping establish Microsoft Azure's blockchain-as-a-service....
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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.....
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:....
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....
With its partnership with software production studio ConsenSys, Microsoft has launched an enterprise solution in the form an ethereum-powered blockchain. The platform will be available to customers of Microsoft's cloud-based platform - Azure. Computing behemoth Microsoft has confirmed the launch of its previously announced cloud-based blockchain platform. With the reveal, Microsoft now notes the new technology will specifically help financial institutions with tools to experiment with blockchain technology on its Azure platform. The news was revealed during the currently ongoing DevCon....
Microsoft (NASDAQ:MSFT) unveiled today Project Bletchley, an initiative to increase and bring new Blockchain as a Service (BaaS) solutions. The company will provide Azure Infrastructure to Consortium blockchains. Microsoft (NASDAQ:MSFT) continues to deliver key innovations and solutions for businesses and developers alike. The company claims it has been working side-by-side with businesses and partners to build and deliver blockchain technology to enterprises, governments, and the general population. The company introduced Blockchain as a Service (BaaS) in November of last year. Powered by....