Microsoft Reveals Platform For Minting Cryptocurrency Tokens

Microsoft needs constructing blockchain tokens within the cloud to be as simple as plugging in a printer.

So says Marley‌ ‌Grey, principal architect at ‌Microsoft, following the announcement Monday of the Azure Blockchain Tokens platform.

Identical to printers have been as soon as a ache to arrange – with a mishmash of printer sorts and their respective device-specific drivers – Grey says enterprise-oriented crypto tokens presently endure from the identical pitfalls. “You may go and purchase a printer or any sort of gadget now and simply plug it in and it really works,” Grey mentioned. “It’s the identical analogy right here for tokens and that’s what we’re constructing in Azure.” Introduced on the Microsoft Ignite convention in Orlando, Fla., the platform permits companies to select from a rising set of token-building templates that conform to the Token Taxonomy Initiative (TTI) – a requirements push and enterprise consortium spearheaded by Grey.
To date there have been quite a lot of TTI-compliant tokens constructed for makes use of like loyalty rewards, or to incentivize software program groups to satisfy said objectives, in addition to conventional monetary devices like letters of credit score in commerce finance.
The TTI has already gone additional than different enterprise performs in getting completely different and competing blockchain factions – from IBM to R3 to Ethereum variants – underneath one roof. “We’re making a platform within the cloud the place any token inside the TTI framework can snap into place,” Grey mentioned. “So you possibly can construct functions the place you need to use tokens with, for instance, Dynamics, SAP, functions within the Microsoft Workplace suite or another enterprise automation course of.” The Azure Blockchain Tokens platform is being launched alongside a bunch of instance tokens.

They vary from a Hyperledger Cloth FabToken constructed by IBM to Santander’s BOND token to a REWARD token from Intel and ConsenSys and plenty of extra.