Waves Enterprise and Microsoft Team up to Develop Blockchain Solutions

Waves Enterprise and the Russian office of Microsoft have agreed on strategic cooperation in the field of creating enterprise solutions based on blockchain and cloud technologies.

Waves Enterprise announces the signing of a five-year memorandum with Microsoft Russia on joint work on corporate solutions based on the blockchain. Although the terms of cooperation have yet been approved, Waves says that both sides want to use the blockchain for new solutions in the supply chain, as well as for “tokenizing industrial assets”.

An industrial asset is a comprehensive term that can refer to everything from heavy equipment to basic office equipment. Microsoft Russia CEO Kristina Tikhonova said that partnership is the first step in order for the business in the country to begin implementing blockchain:

According to Waves, thanks to the memorandum, the company will be able to actively use and integrate Microsoft Azure cloud technologies for joint initiatives aimed at introducing enterprise solutions on the blockchain. Thus, a new blockchain application model and solutions based on the BaaS concept (blockchain-as-a-service — blockchain as a service) will be available. Key BaaS application scenarios include supply chain optimization, notarization of data and tokenization of industrial assets.

Under the agreement, Waves Enterprise will be added to the Microsoft Azure Marketplace, which will make Waves Enterprise products available to a wide range of companies not only in Russia but throughout the world as part of the global Microsoft cloud ecosystem.

The memorandum also provides for the inclusion of Waves Enterprise in the Microsoft Azure Stack Hub. This will allow enterprises to implement hybrid cloud scenarios and deploy Waves Enterprise enterprise blockchain node in the company’s own infrastructure in the Azure Stack environment.

In addition, Waves Enterprise and Microsoft plan to jointly develop a cloud service based on Azure analytic tools, which will be integrated with the Waves Enterprise blockchain infrastructure. In accordance with the five-year agreement, the companies will also jointly develop scenarios that allow enterprises to use blockchain to optimize corporate processes.

Author: Marko Vidrih

Featured image credit: Unsplash

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