Microsoft Corp. (NASDAQ:MSFT) on Thursday announced the Coco Framework, meant to advance enterprise adoption of blockchain technology.
The developers explain that Coco Framework by design will be compatible with any ledger protocol and can operate in the cloud, on any operating system and hypervisor that supports a compatible TEE. Initial adopters include R3 Corda, Intel (NASDAQ: INTC) Sawtooth Lake and J.P. Morgan (NYSE:JPM) Quorum.
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“We are thrilled to work with Microsoft to bring blockchain to the enterprise,” said Rick Echevarria, Vice President, Software and Services Group and General Manager, Platforms Security Division at Intel. “Our mutual customers are excited by the potential of blockchain. Intel is committed to accelerating the value of blockchains powered by Azure on Intel hardware, by improving the scalability, privacy and security of the solutions based on our technologies.”
“The R3 Corda platform was built for enterprises. We designed it with the financial industry from the ground up to solve real business problems, but we also knew it had to be deployable and manageable in today’s complex IT landscape,” said David E. Rutter, CEO of R3. “No other distributed ledger technology platform is as interoperable or easily integrated, and partnering with Microsoft is another milestone in our mission to facilitate a world of frictionless commerce.”
“Blockchain is a transformational technology with the ability to significantly reduce the friction of doing business,” said Mark Russinovich, CTO of Azure at Microsoft. “Microsoft is committed to bringing blockchain to the enterprise. We have listened to the needs of our customers and the blockchain community and are bringing foundational functionality with the Coco Framework. Through an innovative combination of advanced algorithms and trusted execution environments (TEEs), like Intel’s Software Guard Extensions (SGX) or Windows Virtual Secure Mode (VSM), we believe this takes the next step toward making blockchain ready for business.”