Microsoft is launching its own blockchain token platform, Microsoft Azure. It is a cloud-based platform that allows anyone to produce blockchain tokens as easily as connecting printer to the computer.
Unveiled at the Microsoft Ignite event in Orlando, Florida, the platform will provide an environment for blockchain companies. They can choose among the various token forms they are developing under the Token Taxonomy Initiative (TTI).
TTI is an industry consortium project that is leading to create standards for corporate tokens. Marley Gray, principal architect at Microsoft leads this project.
Token developed under the TTI so far include compensation tokens. The tokens are given to software developers when they have achieved certain development goals and for financial transactions. People can also use it on behalf of letters of credit used in traditional trade financing.
TTI will also bring together various participants in the blockchain industry more than any other initiative ever before. These include IBM and R3, as well as many Etherium companies, which are competing with each other.
How Microsoft Azure Blockchain Token platform work and its connection with Microsoft itself
Microsoft Azure Blockchain platform is a cloud-based platform that works with all the tokens developed under TTI. This allows users to develop apps that graft tokens so that they can function tasks that require automation, including Dynamics, SAP and Microsoft Office.
Microsoft will also offer a number of token samples that link to the original Blockchain Token platform when it launches it. These include IBM Hyperviser Fabrics’ FabToken (FabToken) and Santander’s Bank’s Bond (BOD) tokens, and Reward (REWARD) to Intel and Consensus.
Gray, who is also chief representative of TTI, reiterated that the Asher Blockchain Token platform is not limited to Microsoft.
“It is definitely not. This includes IBM, R3, Digital Asset. We are partners with them all,” said Gray in a report by Coindesk.