Microsoft Announces Blockchain Governance Framework – Coco

3249
ADVERTISEMENTSBlockchain Expo
Sportsfix ICO

Share with:


Microsoft has announced the Coco Framework (whitepaper here), a first-of-its-kind innovation that will advance enterprise adoption of Blockchain technology. Current Blockchain protocol technology requires complicated development techniques to meet the operational and security needs of enterprises. The Coco Framework reduces this complexity, and when integrated with Blockchain networks addresses critical needs for commercial adoption like high-transaction speed, distributed governance and confidentiality. Providing these foundational capabilities opens up more complex, real-world Blockchain scenarios across industries — like financial services, supply chain and logistics, healthcare and retail — further proving Blockchain’s potential to digitally transform business.

“Blockchain is a transformational technology with the ability to significantly reduce the friction of doing business,” said Mark Russinovich, chief technology officer of Azure at Microsoft. “Microsoft is committed to bringing Blockchain to the enterprise. We have listened to the needs of our customers and the Blockchain community and are bringing foundational functionality with the Coco Framework. Through an innovative combination of advanced algorithms and trusted execution environments (TEEs), like Intel’s Software Guard Extensions (SGX) or Windows Virtual Secure Mode (VSM), we believe this takes the next step toward making Blockchain ready for business.”

When integrated with a Blockchain network, key benefits of the Coco Framework include these:

  • Transaction speeds of more than 1,600 transactions per second
  • Easily managed data confidentiality without sacrificing performance
  • A comprehensive, industry-first distributed governance model for Blockchain networks that establishes a network constitution and allows members to vote on all terms and conditions governing the consortium and the Blockchain software system

“We are thrilled to work with Microsoft to bring Blockchain to the enterprise,” said Rick Echevarria, vice president, Software and Services Group and General Manager, Platforms Security Division at Intel. “Our mutual customers are excited by the potential of Blockchain. Intel is committed to accelerating the value of Blockchains powered by Azure on Intel hardware, by improving the scalability, privacy and security of the solutions based on our technologies.”

The Coco Framework by design will be compatible with any ledger protocol and can operate in the cloud and on premises, on any operating system and hypervisor that supports a compatible TEE. Initial Coco Framework implementations will include R3 Corda, Hyperledger Sawtooth, J.P. Morgan Quorum, and Ethereum.

“The R3 Corda platform was built for enterprises. We designed it with the financial industry from the ground up to solve real business problems, but we also knew it had to be deployable and manageable in today’s complex IT landscape,” said David E. Rutter, CEO of R3. “No other distributed ledger technology platform is as interoperable or easily integrated, and partnering with Microsoft is another milestone in our mission to facilitate a world of frictionless commerce.”

A technical white paper and demonstration are available today for business leaders and developers looking to learn more about the Coco Framework. Microsoft will launch the framework on GitHub in 2018 as an open source project and will work with customers and partners, as well as the Blockchain technical and business communities, to continue advancing foundational Blockchain technology.

More information on the Coco Framework, including links to their technical white paper and technical demo, can be found at http://www.aka.ms/cocoframework.

About Richard Kastelein

Founder and publisher of industry publication Blockchain News (EST 2015), partner at ICO services collective CryptoAsset Design Group ($500m+ and 50+ ICOs), director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur.

He sits on the advisory boards of some two dozen Blockchain startups
and has written over 1500 articles on Blockchain technology and
startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat

Ad honorem - Honorary Ph.d - Chair Professor of Blockchain at
China's first Blockchain University in Nanchang at the Jiangxi Ahead
Institute of Software and Technology. In 2018 he was invited to and attended University of Oxford's Saïd Business School for Business
Automation 4.0 programme. Chevalier (Knight) - Ordre des Arts et des
Technologies at Crypto Chain University and on advisory board of Advisory Board Member of International Decentralized Association Of Cryptocurrency And Blockchain (IDABC) as well as Advisory Board Member at U.S. Blockchain Association.

Over a half a decade experience judging and rewarding some 1000+
innovation projects as an EU expert for the European Commission's SME
Instrument programme as a startup assessor and as a startup judge for
the UK government's Innovate UK division. Kastelein has spoken
(keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London (5x), Manchester, Minsk, Nairobi, Nanchang, San Mateo, San Francisco, Santa Clara, Shanghai, Singapore (3x), Tel Aviv, Utrecht, Venice, Visakhapatnam, Zwolle and Zurich

His network is global and extensive. He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe

He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.

A journalist by trade, an entrepreneur and adventurer at heart,
Kastelein's professional career has ranged from political publishing to
TV technology, boatbuilding to judging startups, skippering yachts to
marketing and more as he's travelled for nearly 30 years as a Canadian
expatriate living around the world

In his 20s, he sailed around the world on small yachts and wrote a
series of travel articles called, 'The Hitchhiker's Guide to the Seas'
travelling by hitching rides on yachts (1989) in major travel and
yachting publications. 

He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

Visit Website
View All Articles

More News

Facebook Comments

advertisementBlockchain Expo Sportsfix ICO Skyminer Tymlez Evident Proof Femergy Evident Proof Kinesis

1 COMMENT

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.