Block chain, the seemingly unanimous opinion will revolutionize what there is to roll up on the Internet. Especially in the financial industry, technology has triggered a veritable fever. The Project Bletchley baptized block chain-as-a-Service would Microsoft provide the right medicine not only for the financial industry, but for any kind of enterprise.
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As early as last November, Microsoft is the first time appeared in public with a block chain technology that the crypto currency and Smart Contract platform Ethereum as block chain-as-a-Service (BaaS) on the cloud platform Azure provides. Was it at Ethereum-BaaS (ebaas) nor much about laying the foundation for Microsoft’s block chain ambitions, the Group now presents project Bletchley first concrete ideas and elements.
The precursor to the establishment of Project Bletchley one became known in April partnership of Microsoft with the existing from 43 financial institutions R3 Consortium. It is an industry association that has the block chain research and development devoted to.
Served ebaas moreover, companies a cost-effective platform for the first experiments with block Chain to provide, Microsoft pulls Project Bletchley first conclusions from the experience gained with ebaas. Central desires which have been reflected back to the project team by the companies, resulting Marley Gray, head of BizDev & amp; Strategy, Cloud and Enterprise at Microsoft Azure, in the announcement post on. High on are:
- platform openness
- Integration of identity and key management, privacy and security, operational management and interoperability
- Performance, scalability, support and stability
- Consortium block Chains, ie closed, subject to authorization networks
About the role of Azure to Gray expressed as follows: “ In Project Bletchley, Azure Provides the fabric for block chain, serving as the cloud platform where distributed applications are built and delivered. “Microsoft wants to continue to provide a variety of block chain protocols, including both simpler UTXO protocols (unspent Transaction output-based Protocol) as well as more powerful SmartContract- protocols that can regulate various contractual arrangements.
block Chain middleware and Cryplets
Real news however, represent only the block chain middleware and called Cryptlets. As you can see the GitHub whitepaper serves the middleware mainly to essential service functions such as identity verification, encryption, data services (including Analytics and Machine Learning) and management capabilities allow. Central block chain services can be associated with such business-related services, as the group.
As a kind of hinge between Azure, middleware and customer technologies serve the Cryplets. Microsoft describes it as a valuable link to establish interoperability between these platforms, but also between multiple Clouds. The Cryplets are used to add code and data outside the block chain or a smart Contracts in the process without compromising the authenticity of the transactions.
The block chain in the enterprise context
understands subblock Chain to a distributed database, in the transactions between different users, so changes are within the database, and documented for all parties concerned are always traceable. Saved it be in the form of a series of chain-block, hence the name. So, in addition to ownership and originating the transaction histories of objects represented in the form of so-called tokens, are held. The legitimacy of this object can thus be detected.
The database often Ledger (dt. Register) called, is located on different nodes, all of which feature a copy of the register. The Nodes compare constantly with each other, so it is impossible to carry out illegal transactions. Reaching the nodes to each other any unit, a transaction will not be accepted. This principle of collective accounting was first applied by cryptocurrency Bitcoin.
The attractiveness of this principle for companies on the one hand is to be protected at business processes from manipulation and fraud. Moreover, deleted a lot of bureaucracy: audit and notarial tasks carried out from now on automatically. Thus transactions are also much faster. What else can take days in the banking sector today, perhaps in future unwound in a few seconds.
Microsoft announces its BaaS services open and flexible for any platform to keep. It is interesting in this context that apparently open source technologies will play a major role. The white paper states:
Open source technologies wants serve as the building blocks for this ecosystem. Supporting open standards for protocol level Implementations of Peer-2-Peer / networking, consensus, database and virtual machines are key in Establishing trust within the larger ecosystem and ACCELERATES innovation.
Exciting sound ideas the IT giant from Redmond definitely. Whether he can catapult himself moved to the top in the race for the enterprise use of block chain, is another question. Finally, the industry is still in its infancy; which technology will prove in the end to be suitable, is still in the stars. Anyway starts Microsoft to line up for the slow onset competition
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