Microsoft is Partnering with Ethereum to Create New Digital Assets!
The world of cryptocurrencies has developed at an astonishing pace over the past few years, and now it has emerged that tech giant Microsoft (MSFT) is going to work with Ethereum (ETH) to create new digital assets.
Up until just a few years ago, it was unthinkable that one of the biggest companies in the world was going to enter the cryptocurrency space. Today, however, this is becoming more common.
The Details
Microsoft is apparently working with ETH in order to find a way to audit newly created tokens accurately.
Vitalik Buterin, founder of Ethereum, has stated that the arrival of new tokens has been particularly disruptive for the blockchain space and has created extreme congestion on the network. By extension, it should be a problem for Azure as well, due to its presence on the network.
In addition, the company also noted that the Azure Blockchain Tokens are going to be put into use in this particular project. Azure is the company’s very own cloud service, and over the years it has grown into a multibillion-dollar business.
Azure Tokens are operated through the Ethereum blockchain, and this is where the world’s second-biggest cryptocurrency comes into picture. Now that the two have come together for this project, great things are sure to come to the cryptocurrency space—legitimacy, standard procedures, perhaps more adoption, and who knows what else.
“We’re bringing the kind of efficiency you see in Amazon Fresh and Amazon Now everywhere… because you’re closing the gap between parties collaborating together and working through business processes.”
The principal architect at Microsoft stated what exactly Azure is going to bring to the table.
What do you think about Microsoft’s plans with Ethereum? Do you think this will bring good things to the crypto market?
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STOPDefinitely good news for blockchain....this tech is real and the big dogs know it. I put this post in my weekly msp crypto curation post. Good Stuff!
Oh thank you! And definitely! The more that these tech companies work with crypto, the better it is for us. Adoption is the big hurdle. But, I think that's just a matter of time, especially as these technologies become easier to use.
Great article..I'm glad I found it. I'm not a fan of Microsoft or Bill Gates and this ensures I will NEVER use the ethereum platform.
Way to go Vitalik!
Haha, I don't use ETH myself, but I do hold some because they do have the partnerships and deals that can make me some money in the future. There are many other coins I'd rather see succeed though.
But, overall, this is great for the market in general. Any partnerships with major companies are great for all of us. VeChain just recently inked a deal with tracking Walmart food products in China. I wrote about that in my last post.
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