Microsoft Bets That Bitcoin-Style Blockchains Will Be Big Business
Giant banks are experimenting with software inspired by Bitcoin, and Microsoft wants a piece of the action.
Earlier this week a consortium of 11 giant banks including UBS and Credit Suisse announced that they had completed their first trial run of the idea of using software inspired by the digital currency Bitcoin to move assets around more efficiently. It was also a test of what Microsoft thinks could be a significant new business opportunity. The experiment, coordinated by a company called R3 CEV using Bitcoin-inspired software called Ethereum, took place inside Microsoft’s cloud computing platform, Azure.