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Microsoft joins Digital Chamber of Commerce to Enhance Distributed Ledger Technologies

Tuesday, May 10, 2016

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FREMONT, CA: Microsoft joins the Chamber of Digital Commerce, a new trade association focused on helping businesses of all sizes capitalise on the use of distributed ledger technologies, known as blockchain.

By joining Digital Chamber, Microsoft aims to help develop the necessary regulatory frameworks for the widespread use of blockchain and distributed ledger technologies. The Digital Chamber is also establishing training and self-regulatory schemes to assist new entrants to the market.

Microsoft introduced Blockchain as a Service with Ethereum and has already entered the distributed ledger technologies market. Microsoft is joined by several new partners including Bitswift, Blitz, Blocknet, Gamecredits, Jambucks, OKcash, Shadow, Storj and Vcash in its new cloud based azure blockchain as-a-service platform.

Blockchain modernises legacy financial processes, offering a more secure and transparent way to complete financial transactions and digitally track the ownership of assets. Each transaction is recorded in an online register and tied to the previous one, before being verified through cryptography. Not only does this enable stocks and bonds trades to be finalised in minutes, but it also eliminates the need for clearing houses, cuts costs and significantly reduces the risk of fraud. Virtual currency Bitcoin is the most famous blockchain technology at present.

Other Significant Developments on Blockchain

IBM is also building a secure blockchain ecosystem, a collection of IBM cloud services can be used to create auditable blockchain environments.

Amazon web services (AWS) in collaboration with Digital Currency Group (DCG) announces that they will offer enterprise a new portfolio of blockchain technology via cloud.

"The Digital Chamber provides a vital and needed voice as regulatory frameworks develop," says Marley Gray, director of business development and strategy at Microsoft's Cloud and Enterprise division. "By bringing together companies at the forefront of the industry to share their experiences and plans, the Digital Chamber will help provide input into important public debates about the uses of distributed ledger technology and how to enable it to flourish while protecting the public."

FREMONT, CA: Microsoft joins the Chamber of Digital Commerce, a new trade association focused on helping businesses of all sizes capitalise on the use of distributed ledger technologies, known as blockchain.

By joining Digital Chamber, Microsoft aims to help develop the necessary regulatory frameworks for the widespread use of blockchain and distributed ledger technologies. The Digital Chamber is also establishing training and self-regulatory schemes to assist new entrants to the market.

Microsoft introduced Blockchain as a Service with Ethereum and has already entered the distributed ledger technologies market. Microsoft is joined by several new partners including Bitswift, Blitz, Blocknet, Gamecredits, Jambucks, OKcash, Shadow, Storj and Vcash in its new cloud based azure blockchain as-a-service platform.

Blockchain modernises legacy financial processes, offering a more secure and transparent way to complete financial transactions and digitally track the ownership of assets. Each transaction is recorded in an online register and tied to the previous one, before being verified through cryptography. Not only does this enable stocks and bonds trades to be finalised in minutes, but it also eliminates the need for clearing houses, cuts costs and significantly reduces the risk of fraud. Virtual currency Bitcoin is the most famous blockchain technology at present.

Other Significant Developments on Blockchain

IBM is also building a secure blockchain ecosystem, a collection of IBM cloud services can be used to create auditable blockchain environments.

Amazon web services (AWS) in collaboration with Digital Currency Group (DCG) announces that they will offer enterprise a new portfolio of blockchain technology via cloud.

"The Digital Chamber provides a vital and needed voice as regulatory frameworks develop," says Marley Gray, director of business development and strategy at Microsoft's Cloud and Enterprise division. "By bringing together companies at the forefront of the industry to share their experiences and plans, the Digital Chamber will help provide input into important public debates about the uses of distributed ledger technology and how to enable it to flourish while protecting the public."

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