GPAS Enterprise Smart Contracts – Microsoft Azure Blockchain aaS

GPAS Blockchain 2

One of the best articles we have found in recent times that relates to Microsofts Azure Blockchain-as-a-Service offering is making it easier for businesses to build real-world applications atop it. Have a read of this article following the introduction below.

A quick refresher on what Microsoft is doing in the blockchain space: Blockchain is the technology that underpins the cryptocurrency Bitcoin. But it has uses beyond that. A blockchain is a shared, distributed ledger that can store the complete transaction history of not just cryptocurrency but other kinds of records. As such, it’s of interest to many enterprises, especially those in banking and finance.

From: Marley Gray –

It has been a little over a year since we announced project “Bletchley” and since that time we have been working directly with our partners and customers trying to figure out what, “exactly” this all means? Most of us, when encountering blockchain for the first time are either trying to figure out the tech underneath or simply understand the hype. We usually don’t get it, at first. It often takes several turns of the intellectual crank for it to soak in and the possibilities and opportunities to become obvious. This is due to the potential disruptive forces that could be unleashed by the implementation of what is actually off the shelf mature technology. In hindsight, the implementation of these off the shelf technologies seem obvious for solving the crypto-currency use case. Proof of work, a brilliant innovation in behavioral economics, often distracts attention from what can be an elegant application of technology that has the potential to disrupt all sorts of institutions. Norms and business processes may never be the same. Nonetheless, as people come to terms with the ramifications and implications of a shared truth database, its impact is facing stark implementation realities like privacy, performance and scalability, regulatory compliance and governance.

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