Blockchain and Microsoft could Connect Business
The software company Microsoft does not want to be left behind in order to remain a leader in offering solutions in the information and communication technology, now with the rise of blockchain technology and bitcoin marking a new direction to the rhythm that imbues innovation and creativity, there is no chance of success if you are not up to the requirements.
In this regard the report of Mark Russinovich CTO of Microsoft Azure is analyzed, the possibility of imagining a world in which all industries participate in a blockchain consortium is announced, it is believed that this future is inevitable, to the extent that companies seek efficiency in the data where they want to go. One example is taking shaping the R3CEV consortium, in the financial field it has increased to a very high pace, that must be considered.
In line with the above said, the company Microsoft, to meet the demand placed by Bletchley start the project, this is an effort to make easier the formation of consortia. In contrast Microsoft; Blockchain as a Service (BaaS) as a set of tools remains open to all protocols, consensus algorithms and database, however; Bletchley was built from the ground up to help companies and from the same industry leverage their similarities, rather than compete with each other.
In this sense, the CTO, Russinovich, believes that companies competing in a highly competitive market should not be seen as competitors, the important thing is to get economic benefits in the industry, unify supply chains and autoregulate to apply the philosophy win/win, according to the definition of Ecommerce Digest.
In this sense, Microsoft is evaluating with “great interest” in all sectors, including retail, factories, medical care, “we all,” says, Russinovich. Therefore, to accelerate the formation of the consortiums related to blockchain, for this to be made, Bletchley, provides a framework for distributed Ledger modules with different functions derived from requests from potential customers. Instead of building from scratch, companies can form consortiums and share what they have learned.
In this sense, for the formation of a consortium where a set of skills are shared and to make the supply chain safer and more efficient, processes should be optimized, ensuring their application, Microsoft has two initiatives aimed at strengthening security around two crucial areas: smart contracts running in the blockchain consortium and edges of blockchains where input data is processed and other interested parties collaborating with the computing power.
To do this, during the launch of Bletchley, Microsoft unveiled a new form of middleware, called “cryptlets” designed to serve as gateways that allow data to be reliable then interact with the blockchain, the operation of “cryptlets” is a code that can be executed in a verifiable manner, for this, the blockchain calls even cryptlet, which can then be “injected” into the real world data Ledger Distributed, such as the price of a commodity from verified sources.
Equally, while cryptlets, focuses on making sure that the edges of a blockchain are safe, Kinakuta, aims at making it run on blockchain which is less susceptible to errors, Kinakuta as a working group which began its first steps having challenges to help the industry to insurance contracts are smart.
In this regard, in relation to security, Russinovich says, through the creation of a framework with which the consortium members can connect, allowing safe ways for all stakeholders involved in this project, the data in each port connectivity in conjunction with the third parties involved; that trust can build a true partnership in permanent collaboration, therefore; Microsoft has laid the groundwork for an explosion of groups in the blockchain industry. As can be remembered Microsoft joined the blockchain industry at the end of 2014.
Evolving in 2015, placed in production a new set of tools blockchain-as-a-service hosted in the Azure cloud platform development. Since that time, the company, Microsoft has added more than a dozen “tools” on a third-party platform, as cryptocoins projects; Monero and Tendermint
Finally, Russinovich reports that Microsoft is working on cryptographic tools designed to give the future members of the privacy consortium while leveraging the reliability of a Ledger Shared, the goal is that within the next three years to build the consortium building with Microsoft tools, it is expected that by that date will be operating on a larger scale with fewer middlemen, it is a challenge for companies.
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