Microsoft Announces Blockchain Governance Framework – Coco

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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.

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“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), a partner at ICO services collective Token.Agency
($750m+ and 90+ ICOs and STOs), director of education company
Blockchain Partners
(Oracle Partner) and ICO event organiser
at leading industry event CryptoFinancing (Europe's first ICO event now
branded Tokenomicon)
– 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.  Irish Tech News put him in the top
10 Token Architects in Europe.

Kastelein has an Ad Honorem - Honorary Ph.D. and is 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 an 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 (2x), 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.

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