Microsoft has been working with Blockchain over the last couple of years to build their Azure based Blockchain as a Service alongside of multiple partners.
For many, Blockchain is still very mysterious and although we hear a lot about it in the news and such, we do not fully understand how it works and what benefits it provides.
A recent video from Microsoft's Channel 9 brings Microsoft Azure's Chief Technology Office Mark Russinovich in front of the camera and a whiteboard where he explains the basics behind Blockchain and its role in crypto currency and other types of transactions.
Microsoft is making a significant investment in Blockchain as a Service because it changes how companies can make secure transactions:
"Blockchain is an emerging way for businesses, industries, and public organizations to almost instantaneously make and verify transactions—streamlining business processes, saving money, and reducing the potential for fraud. At its core, a blockchain is a data structure that’s used to create a digital transaction ledger that, instead of resting with a single provider, is shared among a distributed network of computers. The result is a more open, transparent, and publically verifiable system that will fundamentally change the way we think about exchanging value and assets, enforcing contracts, and sharing data across industries. The applications using blockchain are almost limitless, ranging from loans, bonds, and payments to more efficient supply chains to even identity management and verification."
You can learn more about Microsoft's work and services in Blockchain over on their Blockchain as a Service website.
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