The two companies have signed a memorandum on joint development of corporate blockchain in Russia.
Waves Enterprise and Microsoft’s Russian office have agreed on strategic cooperation in the areas of corporate blockchain solutions and cloud technologies.
“Waves Enterprise is one of the leading international blockchain platforms, which substantially contributes to the development of an ecosystem for decentralized solutions globally, ” said Christina Tikhonova, president of Microsoft Russia.
“For Microsoft, it is vital to support developers of innovative solutions and foster wide availability of contemporary tech tools for the development of Russian business, ” she went on to say. “We are confident that our partnership will facilitate the full realization of blockchain technology in the corporate sector in Russia and also, globally.”
We at Waves Enterprise believe that mutual sharing of experience with a global IT leader and one of the most innovative cloud companies will enable the adoption of the best international practices and creation of new service models for corporate solutions based on blockchain technology.
Thanks to the memorandum, Waves Enterprise will be able to actively use and integrate with Microsoft Azure cloud technologies for joint initiatives aimed at the adoption of corporate blockchain solutions. Thus, a new application model for blockchain and solutions based on this integration will be available — Blockchain-as-a-Service (BaaS). The main application scenarios for BaaS include supply chain optimization, data notary and tokenization of industrial assets.
Areas for joint efforts
Under the agreement, Waves Enterprise will be added to the Microsoft Azure Marketplace, which will make Waves Enterprise products available for a wide range of companies in, not only Russia, but also worldwide, within Microsoft’s global cloud ecosystem. Meanwhile, the deployment of solutions from the cloud will make the rollout process faster and cheaper as it requires no extra costs for a company’s own infrastructure or for fine-tuning.
The memorandum also stipulates the inclusion of Waves Enterprise to Microsoft Azure Stack Hub. This will enable businesses to implement hybrid cloud scenarios and deploy the Waves Enterprise corporate blockchain’s node in a company’s own infrastructure in the Azure Stack environment.
Microsoft Azure Stack is a hybrid cloud platform that lets customers deliver services from data centers.
In addition, Waves Enterprise and Microsoft plan to jointly develop a cloud service based on Azure analytical tools, which will be integrated with Waves Enterprise’s blockchain infrastructure.
This service will facilitate collecting structured data, including analytical reports and data graphs related to business processes from the blockchain and blockchain apps, regardless of whether nodes are located in the cloud or stored locally.
Among the service’s other features are automatic smart contract audit, analysis of network transactions for anomalies or compromising attempts and token flow visualization, as well as an option for integration with outside solutions for enriching smart contract operation in a system, such as insurance or risk analysis.
Under the five-year agreement, the companies will also jointly develop scenarios allowing businesses to use the blockchain technology for optimizing corporate processes.