Microsoft will block chain into reality and boost the financial services of digital transformation

Microsoft will block chain into reality and boost the financial services of digital transformation

In April 5th, Microsoft held a Microsoft Envision conference in New Orleans. For the first time held the conference attracted thousands of industry leading enterprises to participate, share and discuss the digital era business insight and successful solutions.

The world in various industries in the digital transformation, has not had the challenge in the transformation process, there are also new opportunities. The digital transformation is conducive to open up new markets, explore new customers. In the “mobile first, cloud first era background, success is going to need to find new development paths, make a fundamental change.

“Blockchain technology has become represent the general trend

The digital transition process, the adoption of the “blockchain” technology is an indispensable driving force. Many people know that, as the core technology of bitcoin, “blockchain technology provides a safe and transparent way of tracking digital asset ownership. In simple terms, its financial institutions trading will bring disruptive change. Under the “blockchain technology power, the traditional financial management process will become more modern, stocks and bonds, such asset transactions can be completed in a few minutes before, it may take several days. In addition, through the transfer of ownership is more direct, the Clearing Corp the intermediate link is no longer needed in transactions, reduce operating costs at the same time, but also can reduce the risk of fraud incidents.

In view of this, the strategic cooperation partnership between Microsoft and R3, a consortium of banks, “blockchain” technology application in the financial services industry from fantasy to reality. Through this partnership, we will help the R3 consortium more than 40 bank development, testing and deployment of the blockchain technology, realization of the traditional business process and the modernization of business operation simplification, it can save billions of dollars in operating costs.

Through the integration of internal resources, this cooperation can provide intelligent technology for the R3 consortium of banks, making the experience more quickly, the technology is more flexible, learning time will be greatly reduced. The R3 consortium bank will use Microsoft’s Azure cloud platform, and by more than 45 partners and the expansion of the Blockchain-as-a-Service development and testing solutions provider network.

At the same time, Microsoft will provide the R3 Consortium “blockchain technology laboratory to provide specialized services and technical support, it can create a powerful and flexible ecological system for banks, help the development and deployment of feasible” blockchain technology solutions. In addition, in addition to the industry’s largest cloud compliance certification and product portfolio, enterprise cloud security and privacy protection in the R3 consortium bank will also benefit from Microsoft, which is essential for the financial services industry.

Force the blockchain Microsoft to boost the financial industry digital transition

“Blockchain” to the center “and” transparent “and” collective maintenance “and other characteristics in order to promote the financial industry as the representative of the various types of business innovation upgrade provides a new choice. It is to see the huge potential business opportunities in the field of the blockchain and promote industry upgrading and development opportunity, since 2014 with Microsoft as the representative of bitcoin currency code as a starting point contact with the virtual internet financial industry, Microsoft has become the world’s first company to enter the “block” in the technical field of IT enterprise chain.

In 2014, Microsoft and the ether (Ethereum), Fang Emercoin and other related enterprises to cooperate. In 2015 October, Microsoft and bitcoin startups BitPay and “blockchain records service Factom (Gong Zhengtong) formally established a cooperative relationship. Subsequently, Microsoft announced the “blockchain service developers ConsenSys cooperation, will be” blockchain technology into the Azure cloud services, to provide regional services for customers of financial industry chain is the use of Azure cloud services “(BaaS, BlockchainasaService), so that they can quickly create a private, public and mixed” blockchain “environment. The use of Azure to the center of the world (private) platform to diversify their” blockchain products.

Recently, MultiChain and Netki also joined the Microsoft AzureBaaS service. Multi enables organizations to rapidly design, deployment and operation of distributed ledger; Netki design solutions, based on the “blockchain” products (such as bitcoin (Bitcoin), tether (a password currency) and Ethereum (a password currency) more convenient operation.

Grope in the digital process of changing the way is not easy. To be successful, it is necessary to establish a cooperative mutual trust network of partners for billions of dollars worth of sensitive financial data and highly regulated industry is even more so. Microsoft is pleased to select the R3 consortium and other agencies to cooperate with Microsoft, jointly build a financial system in future technology. In Microsoft’s view, to “block chain” technology as the representative of the next generation technology will bring disruptive change for each industry’s business model.

Change is not easy, however, have established the basis of mutual trust partnership, Microsoft can believe the crisis as an opportunity to seek out new opportunities for the development of the “subversion”, help partners achieve more.

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