Microsoft Azure Blockchain Tokens
Microsoft Reveals Building Azure Blockchain Tokens Platform
November 6, 2019
Microsoft Azure Blockchain Tokens
Microsoft Reveals Building Azure Blockchain Tokens Platform
November 6, 2019

Microsoft wants to build blockchain tokens in the cloud to be as easy as plugging in a printer.

On November 4 (Monday), Marley‌ ‌Gray, the Principal Architect at ‌Microsoft, says about the Azure Blockchain Tokens platform, too.

Just like printers were once a pain to set up with a mishmash of printer types and their device-specific drivers, Gray says that enterprise-oriented crypto tokens are currently suffering from the same pitfalls.

Gray told:

“You can go and buy a printer or any type of device [now] and just plug it in and it works. It’s the same analogy here for tokens and that is what we are building in Azure.”  

Marley‌ ‌Gray

Announced at the Microsoft Ignite Conference in Orlando, Fla., the platform allows businesses to choose from a growing set of token-building templates that conform to the Token Taxonomy Initiative (TTI), a standard push and enterprise consortium headed by Gray

So far, there have been a number of TTI-compliant tokens which built for uses like loyalty rewards or to incentivize software teams to meet stated goals, as well as traditional financial instruments like letters of credit in trade finance. 

ALSO READ :  Unconfirmed: Bithumb Acquisition Deal Might be ‘Off’

However, the TTI has already gone further than other enterprise plays in getting different and competing blockchain factions, from IBM to R3 to Ethereum variants, under one roof.

Gray said:

“We are creating a platform in the cloud where any token within the TTI framework can snap into place. So you can build applications where you want to use tokens with, for example, Dynamics, SAP, applications in the [Microsoft] Office suite or some other business automation process.”

Marley‌ ‌Gray

Likewise, the Azure Blockchain Tokens platform is being released alongside a host of example tokens.

They range from FabToken, a Hyperledger Fabric, built by IBM to Santander’s BOND token to a REWARD token from Intel, ConsenSys and many more. 

A spokeswoman for the Enterprise Ethereum Alliance (EEA), which is where Gray kicked off the token taxonomy, said that while these examples are not yet in commercial production, all the specs are there to download. A tech team can basically say, “I want one of these,” the spokeswoman said.

Marley Gray

Similarly, Gray, who is also the Chair of the TTI, was keen to point out that Azure Blockchain Tokens is not just “a Microsoft thing.”

ALSO READ :  Report: People Are Still Unaware Of DeFi

He said:

“It is definitely not. This includes IBM, R3, Digital Asset. We are partners with them all.”

Marley‌ ‌Gray

While, for example, it might be intuitive for IBM Blockchain Platform to run on IBM Cloud, it can also work just as well on AWS or Azure.

Along the same lines, Gray also said that there should be “portability” of these token types across clouds and networks, depending on whatever infrastructure people need.

Thus, he concluded:

“The industry has suffered from an IBM versus Microsoft thing, Hyperledger versus ethereum, and so on. We are trying to break down those barriers.”

Marley‌ ‌Gray

Source: ibm.com | coindesk.com


Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

A Brief Overview On Wrapped Token

A Brief Overview On Wrapped Token

A wrapped token is an ERC-20 token with a value identical to another asset that it represents, either through a smart contract or by being backed one-to-one with the underlying asset. It is an asset hosted on the...

Blockchain in the Tourism Industry

Blockchain in the Tourism Industry

Tourism can be defined as traveling to a place that is different from your home city or country for various leisure or business purposes, and staying there for some considerable period of time at a length. It becomes...

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. She is an archetypal writer, who loves to create her own little world with words and locutions. Apart from this, her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.
Share This

Share This

Share this post with your friends!