Menu
Microsoft offers blockchain love with new partnership

Microsoft offers blockchain love with new partnership

The company has announced a strategic team-up with R3 CEV and its 42 member banks

Microsoft has teamed up with a consortium of banks to help develop new methods for using the blockchain -- the technology that underpins Bitcoin -- to support financial transactions.

R3 CEV, which is developing blockchain-based applications for a consortium of more than 40 banks, will have access to Microsoft's Azure cloud offerings as part of a strategic partnership between the two firms. Banks in the consortium with the New York-based R3, include Bank of America, Credit Suisse, Goldman Sachs, and UBS.

What's more, Microsoft will be offering dedicated services and support for R3's blockchain labs, which are physical locations where banks can come, work on, and see blockchain-based technology.

That technology could help speed up traditional financial transactions, like stock and bond trades, which is why the banks partnered with R3 are interested in using it.

In return for its contribution to this partnership, Microsoft will get to encourage those banks to use its Azure cloud platform, especially the Blockchain-as-a-Service offerings that the company has been building out through partnerships with other companies.

If Microsoft gets banks to use Azure to underpin new blockchain-based systems for doing important tasks, it has the potential to make a lot of money off the future of banking.


Follow Us

Join the newsletter!

Error: Please check your email address.

Tags MicrosoftBlockchain

Featured

Slideshows

Kiwi channel closes 2017 with After Hours

Kiwi channel closes 2017 with After Hours

The channel in New Zealand came together to celebrate the close of 2017, as the final After Hours played out in front of a bumper Auckland crowd.

Kiwi channel closes 2017 with After Hours
Meet the top performing HP partners in NZ

Meet the top performing HP partners in NZ

HP honoured leading partners across the channel at the Partner Awards 2017 in New Zealand, recognising excellence across the entire print and personal systems portfolio.

Meet the top performing HP partners in NZ
Tech industry comes together as Lexel celebrates turning 30

Tech industry comes together as Lexel celebrates turning 30

Leading figures within the technology industry across New Zealand came together to celebrate 30 years of success for Lexel Systems, at a milestone birthday occasion at St Matthews in the City.​

Tech industry comes together as Lexel celebrates turning 30
Show Comments