Microsoft is reportedly launching its new cloud platform offering Ethereum Blockchain as a Service (EBaaS). Blockchain technology is a major disrup
Microsoft is reportedly launching its new cloud platform offering Ethereum Blockchain as a Service (EBaaS).
Blockchain technology is a major disruptor to some of the businesses in the financial services sector. Ethereum is open, flexible and can be customized to meet customers`needs, as Microsoft explained on their official website.
“Ethereum Blockchain as a Service” provided by Microsoft Azure and ConsenSys allows for financial services customers and partners to play, learn, and fail fast at a low cost in a ready-made dev/test/production environment. It will allow them to create private, public and consortium based Blockchain environments using industry leading frameworks very quickly, distributing their Blockchain products with Azure’s World Wide distributed (private) platform.”, as Microsoft stated.
“It is an exciting time.”, they added.
As Marley Gray, Microsoft’s director of tech strategy for financial services told Reuters (reuters.com), “the major pain point” was that customers found blockchain technology too hard and too expensive.
According to Gray, this inspired the creation of Ethereum Blockchain as a Service, allowing companies to start working with the technology offerings without making big investments in hardware.
Blockchain technology and cryptocurrencies have already started gaining popularity in the financial world. While controversial, they are the new trend, with major banks and companies investing in blockchain exploration.