Microsoft Works on Bringing in a New Era for Financial Services Industry
Microsoft provides its Azure and Blockchain as a Service offering to various financial institutions, enabling the industry's digital transformation. Banking and financial services industry are heavily dependent on the new-age digital technology for further progress. Microsoft is one of the many tech companies intimately involved with the cryptocurrency sector facilitating the development of blockchain technology for financial applications. In its recent blog post, the company has offered details about the participation of Satya Nadella, CEO of Microsoft Corporation in the Fintech Ideas....
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Microsoft's Azure cloud computing platform is set to integrate several new industry services when it formally launches its blockchain-as-a-service marketplace option next year. Eris Industries, Factom and CoinPrism have partnered with Microsoft, according to a 15th December blog post. The platform had previously announced support for Ethereum and has been looking into integrating Ripple's Interledger protocol. The move comes amid increasing demand from incumbent financial institutions for products and services that allow them to explore the growing number of blockchain offerings and....
The New York-based private banking blockchain consortium led by R3 has now added a new “strategic’ partner, in global software giant Microsoft. In a new announcement made today, Microsoft is now in a partnership with R3CEV, a consortium of the leading banking institutions of the world that is looking to develop real-world blockchain solutions for the current banking and financial services industry. Microsoft, through its cloud service platform Azure, will also serve as the cloud services provider for R3’s Lab and Research Center that is currently developing blockchain-solutions to serve....
After being one of the first big multinational companies stepping into bitcoin, Microsoft is now, it taking its first steps into the blockchain technology. Marley Gray, the director of technology strategy for financial services at Microsoft's at Times Square-based technology center revealed there was a growing demand for this kind of blockchain tools among the company's customers and the company was attracted to Ethereum by its flexibility. While bitcoin was designed with the single purpose of being a currency, Ethereum presents a wider range of applications. Microsoft signed a partnership....
In November, Microsoft launched an Ethereum-based cloud platform to enable enterprise and institutional clients to build Ethereum blockchain and smart contract-based applications, which come with pre-built tools and templates. Now the software giant is working with Ripple to add a dedicated financial services angle to its blockchain-as-a-service (BaaS) platform. With this additional support, Microsoft will be able to provide its clients - which include large financial institutions and banks - with a reliable platform to test their blockchain applications and create new ones. The blockchain....
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.....