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November 12, 2015

Microsoft Offering New Blockchain Platform

Announces Partnership With ConsesYs

Microsoft is partnering with a Brooklyn-based start-up to launch a new Ethereum blockchain platform.

Microsoft-logoThe technology giant announced Wednesday it is joining forces with ConsensYs to bring the platform to businesses. The pairing will enable businesses to have a single click cloud based blockchain developer environment.

Blockchain is similar to a financial ledger. It tracks all bitcoin transactions and feeds the information into a global network which, in turn, verifies the transaction. It’s both secure and simple.

In a blog entry, Microsoft’s director of technology strategy for U.S. financial services, Marley Gray, explained the partnership provides the flexibility and extensibility many customers were looking for. Having Ethereum — a company which has built its own programmable blockchain — on board with the project brings experience and expertise for all to rely on.

The platform will be made available to banks and financial institutions already using Microsoft’s Azure.

“‘Ethereum Blockchain as a Service’ provided by Microsoft Azure and ConsenSys allows for financial services customers and partners to play, learn, and fail fast at a low cost in a ready-made dev/test/production environment,” Gray stated in his entry. “It will allow them to create private, public and consortium based Blockchain environments using industry leading frameworks very quickly, distributing their Blockchain products with Azure’s World Wide distributed (private) platform. That makes Azure a great Dev/Test/Production Environment for Blockchain applications.”


W. Brice McVicar is a staff writer for SiteProNews.