Everyone, predominantly Financial Services, seems to be interested in Blockchain technology and that’s what the tech giant ‘Microsoft’ is offering on its Azure cloud platform.

Partnering with Consensus Systems (ConsenSys), Microsoft is all set to target financial service industry with its Ethereum Blockchain as a Service (EBaaS).

While Bitcoin is enriched with great features, Cryptocurrency being the most popular, users were in constant search for something that is more flexible and extensible. Ethereum gives a perfect finale to this search while modernizing a lot of processes which were, in one or the other way, stuck in the past. It is open, flexible, and extremely customizable according to customer’s needs, provides ample room for innovation and gives access to various new services and distributed applications (Dapps).

Using this technology with Azure, clients of Azure Enterprise and developers will be able to create their own private blockchains (using a single-click cloud-based blockchain developer environment), or automatically executed small contracts’ agreement terms in a matter of just 20 minutes, with no prior experience required. It’s just that easy! Ethereum also serves as an ideal platform for building distributed ledger applications.

Initial Offerings:

BlockApps Strato, a toolkit to develop Ethereum-based applications. It is basically a private blockchain sandbox for developers to experiment with their applications before releasing them into the Ethereum blockchain or any other platform.

Ether.Camp, another blockchain explorer tool enabling businesses on Azure to develop their own blockchain based applications. Features that will grab attention are corporate accounting with enhanced transparency, cross-border payments, self-executing smart contracts, securities trading and many more.

Taking together , Microsoft Azure’s new service EBaaS allows a platform for its customers to play and learn in a readymade development cum testing cum production environment making Azure a great platform for Blockchain applications. Adding to this, capabilities like Power BI, Cortana Analytics, Azure Active Directory, O365 and CRMOL can also be integrated with the apps to derive an entirely new generation of decentralized cross platform applications.

Ethereum has a solid presence in the information technology sector, which Microsoft has realized in time and their Ethereum endorsement cannot be underestimated in any sense. Making this big move, Microsoft Azure is all set to make their already dominant existence more strong and wide.

Image Courtesy :bitcoinmagazine.com