Microsoft Announces the Coco Framework for enterprise Blockchain Networks
Blockchain is a transformational technology with the potential to extend digital transformation beyond a company’s four walls and into the processes it shares with suppliers, customers and partners. A growing number of enterprises are investing in blockchain as a secure and transparent way to digitally track the ownership of assets across trust boundaries and to collaborate on shared business processes, opening up new opportunities for cross-organizational collaboration and imaginative new business models.
Microsoft is committed to bringing blockchain to the enterprise—and is working with customers, partners, and the blockchain community to continue advancing its enterprise readiness. Our mission is to help companies thrive in this new era of secure multi-party computation by delivering open, scalable platforms and services that any company—from ledger startups to retailers to health providers to global banks—can use to improved shared business processes.
As enterprises look to apply blockchain technology to meet their business needs, they’ve come to realize that many existing blockchain protocols fail to meet key enterprise requirements such as performance, confidentiality, governance, and required processing power. This is because existing systems were designed to function—and to achieve consensus—in public scenarios amongst anonymous, untrusted actors with maximum transparency. Because of this, transactions are posted “in the clear” for all to see, every node in the network executes every transaction, and computationally intensive consensus algorithms must be employed. These safeguards, while necessary to ensure the integrity of public blockchain networks, require tradeoffs in terms of key enterprise requirements such as scalability and confidentiality.
Read the entire article here, Announcing the Coco Framework for enterprise blockchain networks | Blog
via the fine folks at Microsoft.