Waves Enterprise and Microsoft United to Develop Blockchain Solutions
Kataryna Kovtun July 17, 2020
Waves Enterprise and Microsoft office in Russia have agreed on strategic cooperation in the creation of enterprise solutions based on blockchain and cloud technologies.
Waves Enterprise announces the signing of a five-year memorandum with Microsoft Russia to work together on enterprise blockchain solutions. While the terms of cooperation have yet to be approved, Waves says both sides want to use blockchain for new supply chain solutions, as well as for “tokenizing industrial assets.”
An industrial asset is a catch-all term that can refer to anything from heavy equipment to basic office equipment. Microsoft Russia CEO Kristina Tikhonova said that the partnership is the first step for businesses in the country to start implementing blockchain:
«It is vitally important for Microsoft to support developers of innovative solutions and ensure wide availability of modern technology tools for the development of Russian business. We are confident that our partnership will contribute to the full implementation of blockchain in the corporate sector in Russia and around the world.»
As noted by Waves, thanks to the memorandum, the company will be able to actively use and integrate Microsoft Azure cloud technologies for joint initiatives aimed at implementing enterprise solutions on the blockchain. Thus, a new model of blockchain applications and solutions based on the concept of BaaS (blockchain-as-a-service) will be available. The main use cases for BaaS include supply chain optimization, data notarization, and tokenization of industrial assets.
The joint product Waves Enterprise and Microsoft will be available worldwide
Under the agreement, Waves Enterprise will be added to the Microsoft Azure Marketplace. This will make Waves Enterprise products available to a wide range of companies not only in Russia but all over the world as part of Microsoft’s global cloud ecosystem.
The memo also provides for the inclusion of Waves Enterprise in the Microsoft Azure Stack Hub. This will enable enterprises to implement hybrid cloud scenarios and deploy a Waves Enterprise blockchain node on their infrastructure in an Azure Stack environment.
Also, Waves Enterprise and the Russian office of Microsoft are planning to jointly develop a cloud service based on Azure analytics tools that will integrate with the Waves Enterprise blockchain infrastructure. Under a five-year agreement, the companies will also jointly develop scenarios to enable enterprises to use blockchain to streamline corporate processes.
In April of this year, the Waves Enterprise platform was included in the register of Russian software.