MICROSOFT LAUNCHES ITS OWN BLOCKCHAIN DEVELOPMENT PLATFORM

 Microsoft announced that it was launching its own blockchain platform called the “Azure Blockchain Workbench”, according to a blog post published on May 7. 

Their platform is a tool that will reduce considerably the time needed to develop a blockchain application. Microsoft’s platform consists of an automating infrastructure setup, on which it is possible to build a blockchain-based platform using Azure Resource Manager (ARM) templates. 

 Kerner expressed,

 “Workbench gets customers started quickly by automating infrastructure setup, so developers can focus on application logic, and business owners can focus on defining and validating their use cases.”

The Workbench allows “scaffolding for an end-to-end blockchain application” for businesses, so the main purpose of this Microsoft innovation is to encourage other companies to use their platform to build their own blockchain.

Kerner further explains,

“Workbench dramatically reduces development costs and accelerates time to value for developers, independent software vendors and integration partners alike.”

Some companies already began to use Workbench such as Apttus in the U.S., which uses Microsoft’s platform to “help banks and asset managers quickly build and deploy smart contracts to secure, track and adjust to changes in the loans that are securitized and pooled for collateralized debt instruments, protecting against risks that contributed to the 2008 financial crisis.”