Blockchain technology is generating
significant interest across a wide range of industries in India. As the field
of applications for Blockchain grows, Microsoft is continuously working with
customers, partners and the blockchain community to continue advancing
blockchain’s enterprise readiness. Keeping in line with this, Microsoft announced its new Coco Framework, a first-of-its-kind
innovation that aims to advance enterprise adoption of blockchain. Blockchain
is a transformational technology with the ability to significantly reduce the
friction of doing business. Coco is the foundation of blockchain for the
enterprise. It addresses key elements that businesses are demanding.
Current blockchain
protocol technology requires complicated development techniques to meet the
operational and security needs of enterprises. The Coco Framework reduces this
complexity and when integrated with popular blockchain protocols like Ethereum
or Corda, Coco addresses and improves on critical needs for commercial
blockchain applications including high transaction speed (faster by roughly 100
times), distributed governance (network constitution that allows members to
vote) and confidentiality (without compromising performance). Coco by design is
open and compatible with any ledger protocol and can operate in the cloud and
on premises. Initial ledger integration partners include R3, Intel and JP
Morgan Chase, which have agreed to integrate their proprietary blockchain
ledger platforms with the Coco Framework.
Coco provides
foundational capabilities that open up more complex, real world blockchain
scenarios across industries – like financial services, healthcare and retail –
further proving blockchain’s potential to digitally transform business. Microsoft
will launch the framework on GitHub in 2018 as an open source project.
No comments:
Post a Comment