Partnership between Microsoft and R3 Consortium has been announced, the interest between two companies will help incite the adoption of distributed ledger technologies among R3’s members, in yet another sign of how organized banks and technology companies are racing toward what the business sees as a distributed ledger future.
To empower a quicker, safer, productive and clear transactions without middlemen and upsetting traditional financial aids blockchain would be a huge help.
Microsoft will essentially provide “blockchain as a service,” in which the technology is accessed via the cloud similar to the way Google Docs offers word-processing software that the user need not download onto their computer.
R3 believe that Microsoft is efficient in the company’s needs in aiding its bank members.
R3 and its consortium members will also be able to access Microsoft’s blockchain-as-a-service partners, which include Ethereum, ConsenSys, Ripple and others.
And other offerings may be in the works. “The deal that we saw today is what we think will be the first in a series of broadening steps in our relationship,” said Charley Cooper, R3′s managing director.