Microsoft has announced Coco Framework,-a first-of-its-kind innovation that will help in greater adoption of blockchain.
Blockchain is a transformational technology which reduces the friction of doing business and Coco is the foundation of blockchain for the enterprise.
The Coco Framework reduces the complexity of the systems. There is also a provision of integrating the Coco framework with popular blockchain protocols like Ethereum or Corda, and help in improving the critical needs for commercial blockchain applications including high transaction speed (faster by roughly 100 times), distributed governance (network constitution that allows members to vote) and confidentiality (without compromising performance).
Its unique design allows it to be compatible with any ledger protocol and can operate in the cloud and on premises. Initial ledger integration partners include R3, Intel and JP Morgan Chase, which have agreed to integrate their proprietary blockchain ledger platforms with the Coco Framework.
Microsoft will launch the framework on GitHub in 2018 as an open source project.
Blockchain in India is ready to be taken to the next level. Microsoft is already working as the exclusive cloud partner by BankChain, a platform for banks in India (comprising State Bank of India, ICICI Bank, DCB Bank, Kotak Bank, Bank of Baroda, Deutsche Bank, and others) to explore, build, and implement blockchain solutions using Microsoft Azure Blockchain.