Cryptocurrency

Microsoft joins IBM on R3 to Ethereum

Microsoft has already expressed in the past his interest in Crypto and Blockchain. Now the company wants to go the next step, and Tokenization for everyone easier. The Software giant wants to make the creation of Blockchain tokens in the Cloud as easy as Connecting a printer to the Computer. With these words, Marley Gray, chief architect at Microsoft, the Azure Blockchain Token platform announced on Monday.

Microsoft announces Azure Blockchain Token platform

Microsoft sees a Problem for companies in creating their own tokens. It is still too complicated for the majority of the companies. Gray said: “in the Same way as a printer once-tedious mishmash of printer types and their respective device – specific drivers were to be set up with a mixer.”The new Azure Blockchain Token platform will enable enterprises to choose from a pre-defined and growing number of Token-Templates. These correspond to the Token Taxonomy Initiative (TTI), a new Framework and Enterprise consortium Standard.

You can now buy a printer or any device and just plug it in and it works. It is the same analogy here for tokens and that is what we build in Azure.

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Microsoft with TTI for a new Token Standard

TTI-compliant tokens have already been used successfully several times. For use as rewards for loyalty or to motivate Software Teams to achieve certain goals, as well as for traditional financial instruments such as letters of credit in trade financing. The TTI of Microsoft wants to merge the popular Blockchain projects – IBM via R3 to Ethereum.

We are creating a platform in the Cloud, on which each Token can snap into place within the TTI framework. So you can create any kind of applications for which Token to use, e.g., Dynamics, SAP, applications (Microsoft) Office Suite, or other Business Automation process.

All of the popular Blockchain platforms under one roof

The platform Azure Blockchain token is published, together with a wide variety of sample tokens. They range from one developed by IBM Hyper Ledger Fabric FabToken about Santander’s BOND Token to a Reward Token from Intel and ConsenSys.A spokeswoman for the Enterprise Ethereum Alliance (EEA) said this, that, these examples are still in commercial production, but all the specifications are available for Download. Also, Gray, the Chairman of the TTI has not pointed to the fact that it is in the Azure Blockchain Token platform to a pure Microsoft development. Here, IBM, R3, Digital Asset and the other Player is just as important a role to play.To ensure the communication between the different Blockchain platform is the interoperability. According to Gray, there will be a kind of “portability” to move it around to different Token types across Clouds and networks, depending on what infrastructure should be used.Finally, Gray said:

The industry has suffered from a IBM-vs-Microsoft thing, Hyper Ledger-against-Ethereum and so on. We try to overcome these barriers.

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About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.