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Microsoft is all about that BaaS

By NexChange
FinTech

It has been three months now since Microsoft teamed up with blockchain software firm ConSensys to launch a new blockchain-as-a-service (BaaS) on its cloud computing platform, Microsoft  Azure.

The new platform is the tech giant’s way of getting a head start on perhaps one of the most disruptive technologies to emerge since the dawn of the internet, and its ecosystem is growing fast.

Microsoft is looking to officially launch its Ethereum-based BaaS marketplace option on Azure this year. Ethereum is a protocol like bitcoin that specializes in executing smart contracts.  With this marketplace, Microsoft hopes to make its easier for its client to build blockchain applications and offer them to their own customers.

Including ConSensys, Microsoft now has nine partners on its platform, the last four of which were added earlier this week, they are:

  • BitPay, a bitcoin payments firm
  • Manifold Technology, a private blockchain
  • LibraTax, an auditing and accounting application using blockchain
  • Emercoin, a digital currency
  • CoinPrism, a cryptocurrency wallet
  • Eris Industries, a smart contract application platform
  • Factom, blockchain data management platform
  • Ripple, a global blockchain settlement network

The implications of such an ecosystem may seem a little esoteric for the uninitiated, but for those in the blockchain business is a major development that means more businesses will have access to blockchain technology.

It is especially big for Emercoin. The alternative digital currency, or Altcoin, saw its value double on the news of its latest partnership this week, according to Coin Telegraph

Photo: David Luders

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