Microsoft Russia has partnered with Waves Enterprise, a Moscow-based blockchain platform, to create an asset tokenization platform for company equipment.
On July 15, it has been reported that Waves Enterprise had signed a five-year memorandum with Microsoft Russia to work jointly on corporate blockchain solutions.
Founded in July 2019, Waves Enterprise to offer services to corporate clients on private blockchains.
#WavesEnterprise and @RusMicrosoft have agreed to jointly develop corporate solutions based on #blockchain and cloud technologies. Find out more about the two companies' collaboration areas on our blog.https://t.co/rPeRMt4E2x — Waves Enterprise (@wvsenterprise) July 16, 2020
However, nothing has been confirmed though, as Waves said both sides wanted to use blockchain for new supply chain solutions as well as for the “tokenization of industrial assets.”
An industrial asset is a catch-all term that can refer to anything from heavy machinery to basic office equipment.
Kristina Tikhonova, the CEO of Microsoft Russia, said that the partnership was a push towards the country’s business sector getting to grips with blockchain technology.
She added:
“Waves Enterprise is one of the leading international blockchain platforms, which substantially contributes to the development of an ecosystem for decentralized solutions globally.”
Tikhonova further said:
“For Microsoft, it is vital to support developers of innovative solutions and foster wide availability of contemporary tech tools for the development of Russian business. We are confident that our partnership will facilitate the full realization of blockchain technology in the corporate sector in Russia and also, globally.”
Likewise, Waves said:
“Future solutions could be made available in Russia and internationally.”
Thus, Waves Enterprise said that it will also build a data analytics solution based on Microsoft Azure, the company’s cloud computing service.