Eyeing on the emerging market opportunity for Blockchain, Microsoft has launched Microsoft Azure Blockchain as a Service (BaaS) in India.
The service provides an open, hyper-scale cloud platform and an expanding ecosystem of blockchain technologies for enterprises, consortiums and governments, the company said.
In India, availability of Microsoft Azure BaaS from local, hyper-scale datacenters, with their hybrid cloud capabilities, will help drive blockchain adoption in regulated sectors like banking and financial services, insurance and healthcare as well as governments.
More than 80 percent of the world’s largest banks and more than 75 percent of the global systemically important financial institutions are using Microsoft Azure, representing the highest bar for legal, compliance, security and acquisitions teams.
Bank of America Merrill Lynch and KPMG Singapore are among the top banks offering blockchain on Azure platform.
To launch the service, Microsoft has collaborated with the Ethereum Foundation, which among other activities, involve in the development and regulation of blockchain. Eteherum founder and chief scientist Vitalik Buterin is the creator of blockchain and cryptocurrency technologies through Bitcoin in 2011.
Buterin said, “We are seeing good leadership with Microsoft in bringing blockchain to their customers using the Azure platform. We highly appreciate their continued support and collaboration with the Ethereum Foundation and the Ethereum ecosystem. We look forward to continuing to work together in the future.”
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