Microsoft is betting on bitcoin, began to study the block chain technology

Microsoft is betting on bitcoin, began to study the block chain technology

According to Reuters, Microsoft Corp in Broolyn venture company ConsenSys cooperation, devoted to the study of block chain technology, in order to achieve bitcoin and Technology Promotion Association for financial institutions.

Bitcoin is the core of block chain technology. Block chain is composed of the encryption algorithm is actually a set of rigorous evolved, can even prove its security problems with mathematics. Make it simple and perfect. Through the complex public and private settings, block chain network will the financial network of all trading books distributed to every client, but also to ensure that each person can only modify their own property.

Block chain technology can strengthen other data exchange, some private companies are building block chain, is extended on the basis of the function of bitcoin.

In cooperation with ConsenSys, Microsoft hope that new technologies will be sold to financial companies and other organizations need. According to Microsoft, there have been four major financial institutions with Microsoft to discuss related issues.

Early in September this year, the United States BusinessInsider had reported that JP Morgan Street bank, UBS, Royal Bank of Scotland, Credit Suisse, BBVA and Commonwealth Bank of Australia, the 9 large global banks have signed a framework developed jointly with blockchain technology.

The day before, easy Octopus journalists also reported that bitcoin since it has experienced many ups and downs. Because the government is worried about the threat to the real economy steady and began monitoring. Bitcoin trading platform Mt.Gox exposed the scandal, bitcoin prices fell even more.

Recently, bitcoin seems to stage a comeback. Bitcoin in last week hit a high of $500, but after a week the price cut close to the two day slightly above prices at 300 dollars.

Some analysts believe that the recent rise in prices is because Russia’s Ponzi scheme and China investor demand increase. There are different point of view, it is because of the block chain technology has very good prospects, only the main push bitcoin prices rise.

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