apacciooutlook logo

Microsoft and R3 Partner to Speed Up Adoption of Distributed Ledger Technology for Financial Industry

Thursday, April 7, 2016

content-image

NEW YORK: Microsoft announces partnership with R3, a provider of financial services and solutions, to Speed up the adoption of distributed ledger technology for the financial services industry otherwise known as Blockchain by R3 member banks and global financial markets. R3 is an international consortium of 43 financial institutions.

Distributed ledger technologies enable enterprises and business network participants to complete transactions quicker, more securely and transparently and with lower costs. R3 also named Microsoft Azure the preferred cloud services provider for its R3 Lab and Research Center.

Blockchain, is the public ledger of all Bitcoin transactions. It is a transparent and tamper-resistant way of transacting business. FinTech (financial technology) companies and startups are adopting to blockchain as a means to build efficient next-generation banking, payment and trading systems.

Microsoft will provide its cloud-based tools, services and infrastructure as well as its dedicated technical architects, project managers, lab assistants and support services to the R3 lab locations.

Microsoft made an early entrance into the cloud-powered blockchain technology market by debuting with its Azure blockchain-as-a-service offering. Since then, the company has gathered supporters and blockchain application makers, including BitShares, Lisk and Slock.it.

 “The partnership between Microsoft and R3 will scale the use of distributed ledger technology in a way that will change the entire financial services industry,” says David Rutter, CEO of R3. “The Azure platform and intelligent cloud services bring advanced capabilities to this budding financial ecosystem, and the commitment by Microsoft will accelerate the adoption of distributed ledger technology around the globe and take our R3 Lab and Research Center offering to a new level of capability.”

Leaders Speak

Andy Nallappan, VP & CIO,

The Industry Demands Quick Upgrade into Cloud

By Andy Nallappan, VP & CIO,

Global Information Technology, Avago Technologies

Steven Weinreb, CIO & EVP, Technology & Operations, Asia, MetLife

Embracing Advanced Tech-enabled Solutions that Foster Innovation and Growth

By Steven Weinreb, CIO & EVP, Technology & Operations, Asia, MetLife

Anil Khatri,

Trends that are on Every CIO's Watch-list

By Anil Khatri,

Head IT-South Asia,

SAP

James F. Hanauer, CTO, VP Engineering and Art Saisuphaluck, Solutions Architect, R&D Lead, CTSI-Global

Simplifying Infrastructure Management with Microsoft Solutions

By James F. Hanauer, CTO, VP Engineering and Art Saisuphaluck, Solutions Architect, R&D Lead, CTSI-Global

Mickey Bradford, VP-IT/CTO, Exchange; & Jay McCartin, VP-Logistic Operations,  Army & Air Force Exchange Service

Embracing Cloud Hosting Benefits

By Mickey Bradford, VP-IT/CTO, Exchange; & Jay McCartin, VP-Logistic Operations, Army & Air Force Exchange Service

Featured Vendors