Microsoft Corporation (NASDAQ:MSFT) has formed partnerships with two Chinese companies on blockchain. The technology giant has formed a strategic partnership with High Cloud and China Binary Sale Technology on blockchain so as to transform several industries like e-commerce, finance, entertainment among others.
Harnessing the potential in blockchain
According to a statement issued by the group, the project mainly targets the Asia-Pacific region. The project will seek to harness the unlimited potential that come with blockchain technology.
In a statement, China Binary founder, Sun Jiangtao, said that the company is very optimistic about the market opportunities that come with blockchain technology especially in Southeast Asia and Taiwan. He noted that the company will use the partnership to make the Taiwan market a competitive blockchain market.
Jiangtao said that Taiwan presents some comparative advantages that can make blockchain thrive. These include diversified talents and a vibrant market throughout Southeast Asian.
Terms of the cooperation
In the partnership, MasterDAX, a product of China Binary will use Microsoft Azure as its main blockchain cloud platform. The platform will offer blockchain developers with an already-built infrastructure and network. This allows developers to simplify the process. Through Microsoft Azure, MasterDAX will be able to Access cloud services like SQL Database, Key Vault and Azure Active Directory.
Microsoft Taiwan General Manager, Sun Jikang, said that Microsoft Azure can help boost speed and security of China Binary’s blockchain services.
Microsoft’s partnership with Ernst & Young (EY)
Recently, Microsoft announced that it was partnering with Ernst & Young (EY) to develop a blockchain platform for content rights and royalty management. As part of this partnership, Microsoft will use the technology in its gaming applications.
The new product will was jointly launched by Microsoft and EY will allow business to streamline all processes, which are related to royalty agreements and intellectual property. The platform will gather all production houses, authors, developers, songwriter and other content creators.
The current process of tracking as well as getting payments for copyright has a lot of intermediaries which is very unreliable for many creators. In addition to reducing costs and middlemen, the new system will help in improving transparency and trust between parties.