Waves Enterprise partners with Microsoft in a blockchain deal
- The agreement will see the two firms work on blockchain-based products over five years.
- The products will reportedly target corporate firms in Russia and across the globe.
- This partnership will also facilitate the creation of a cloud-based data collection service.
Waves Enterprise and Microsoft’s Russian office have entered in a strategic five-year partnership in the sectors of corporate blockchain solutions and cloud technologies. Waves unveiled this news via a blog post, noting that this collaboration will see Microsoft Azure Marketplace integrate Waves blockchain platform. Per the publication, Waves Enterprise will be in a position to actively use and integrate with Microsoft Azure cloud technologies for joint projects that seek to boost the adoption of corporate blockchain solutions.
According to the blog post, this partnership will see Microsoft and Waves create a new application model for blockchain. Dubbed Blockchain-as-a-service (Baas), the new application model has use cases ranging from chain optimization to data notary and tokenization of industrial assets.
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Commenting on this partnership, Christina Tikhonova, the president of Microsoft Russia said,
“Waves Enterprise is one of the leading international blockchain platforms, which substantially contributes to the development of an ecosystem for decentralized solutions globally. For Microsoft, it is vital to support developers of innovative solutions and foster wide availability of contemporary tech tools for the development of Russian business. We are confident that our partnership will facilitate the full realization of blockchain technology in the corporate sector in Russia and also, globally.”
Introducing the best practices of the blockchain
According to Waves, joining hands with a global IT leader would enable the adoption of the best international blockchain practices. On top of this, it will enable the creation of new service models for corporate solutions based on the blockchain.
As aforementioned, this partnership will see Waves integrated into the Microsoft Azure marketplace. As such, Waves Enterprise products will be available within Microsoft’s global cloud ecosystem. As a result, a broad range of firms in Russia and across the globe will be well-poised to access these products.
Developing the products from the cloud will help expedite the rollout process. This is because it won’t need extra costs for a company’s infrastructure. Apart from this, firms will also minimize the costs of fine-tuning the products.
The agreement between the two firms also stipulates that Waves Enterprise be integrated into the Microsoft Azure Stack Hub. In so doing, businesses will be in a position to implement blockchain hybrid cloud scenarios. They will also be able to launch the Waves Enterprise corporate blockchain’s node in a firm’s infrastructure in the Azure Stack environment.
Creating a cloud-based service
This collaboration will also see Microsoft and Waves Enterprise develop a cloud-based service that runs on Azure analytical tools. Waves Enterprise will integrate this service into its blockchain infrastructure. This service will reportedly enable the collection of structured data. This data includes analytical reports and data graphs relating to business processes from the blockchain and blockchain-based apps. The service will allegedly facilitate data collection regardless of whether the nodes are located on the web or stored locally.