Software giant Microsoft has unveiled a fully-managed Azure Blockchain Service that would help in simplifying the formation, management and governance so that businesses can focus on workflow logic and application development.
Instead of backing the cryptocurrency transactions, Azure Blockchain Service will enable businesses in building their applications on its Cloud-based platform.
Besides, Microsoft has announced its collaboration with J.P. Morgan to make “Quorum” (an enterprise-focused version of the open-sourced platform Ethereum) the first ledger available in Azure Blockchain Service.
“Because it’s built on the popular Ethereum protocol, which has the world’s largest Blockchain developer community, aQuorum’ is a natural choice,” said Mark Russinovich Chief Technology Officer, Microsoft Azure.
Customers of Coffee-chain like Starbucks and luxury French fashion brand Louis Vuitton also known as “Quorum” customers can now use Azure Blockchain Service to swiftly expand their networks with lower costs.
In a few simple clicks, users would be able to create and deploy a permissioned Blockchain network and manage consortium policies using an intuitive interface in the Azure portal.
“We are delighted to partner alongside Microsoft as we continue to strengthen ‘Quorum’ and expand capabilities and services on the platform,” said Umar Farooq, Global Head of Blockchain at J.P. Morgan.
IBM and Amazon Web Services (AWS) have already introduced their Blockchain-based services.
“With Azure Blockchain Service and Ethereum integrations for tools like VS Code, Microsoft is demonstrating its commitment to open Blockchain development,” said Vitalik Buterin, co-founder of Ethereum.
Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔ www.eletsonline.com/subscription/
