American top dog software corporation Microsoft has hinted that it will integrate the Azure Blockchain technology into Nasdaq services. This news relating to the stock exchange’s Financial Framework (NFF) came by way of a press release on Oct. 30.
The New Arrangement Will Give All Parties Involved A Ledger Agnostic Blockchain Capacity
Microsoft will integrate the Azure blockchain service with the NFF. Following the partnership, all parties will develop a ledger agnostic blockchain capability. This will make way for operations across multiple ledgers.
The new arrangement will facilitate an easier way for buyers and sellers to match. It will result in better management delivery, improved payment and faster settlement of transactions. Integrating Azure Blockchain will allow NFF customers to deploy a host of blockchains through a common interface.
The Partnership Will Take Away A Few of the Complexities of Integrating Blockchain Into Existing Infrastructures
According to Nasdaq’s senior VP of Enterprise Architecture, Tom Fay, the partnership with Microsoft will remove several complexities of integrating blockchain into existing infrastructures. Nasdaq recently introduced a new blockchain patent, that references an information computer system offered for the purpose of securely releasing time-sensitive data to recipients through a blockchain.
Nasdaq with this patent is looking to ease the releasing of time sensitive information to the media while also keeping it secure as well as watertight from a legal point of view.
Bill Dague, Nasdaq’s Head of Alternative Data when speaking with Cointelegraph, said that it the corporation is looking to add crypto datasets to its marketing analytics tool. In the end, whether or not the network will reveal a crypto-related product is unfounded for the time being.
Back in august, Azure launched a POA (proof-of-authority) algorithm on its ETH blockchain product. A PoA is based on approved identities on a blockchain. Note that it does not require any competition when it comes to completing the transactions.
Ethereum (ETH) Price Today – ETH / USD
The new Ethereum (ETH) product on Azure comes with several features to make sure that it is correctly functioning and offers better security, including an identity leasing system, Azure Monitor, a Governance Decentralized Application and Parity’s web-assembly suppor.
Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.