Microsoft looks to make blockchain enterprise-ready with Coco Framework

|August 16, 2017 0
Image courtesy of Idea go at freedigitalphotos.net

USA: Microsoft has announced the Coco Framework, to advance enterprise adoption of blockchain technology.

Current blockchain protocol technology requires complicated development techniques to meet the operational and security needs of enterprises. The Coco Framework reduces this complexity, and when integrated with blockchain networks addresses critical needs for commercial adoption like high-transaction speed, distributed governance and confidentiality. Providing these foundational capabilities opens up more complex, real-world blockchain scenarios across industries — like financial services, supply chain and logistics, healthcare and retail — further proving blockchain’s potential to digitally transform business.

When integrated with a blockchain network, key benefits of the Coco Framework include these:

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-Transaction speeds of more than 1,600 transactions per second

-Easily managed data confidentiality without sacrificing performance

-A comprehensive, industry-first distributed governance model for blockchain networks that establishes a network constitution and allows members to vote on all terms and conditions governing the consortium and the blockchain software system

Microsoft will launch the framework on GitHub in 2018 as an open source project and will work with customers and partners, as well as the blockchain technical and business communities, to continue advancing foundational blockchain technology.

“Blockchain is a transformational technology with the ability to significantly reduce the friction of doing business,” said Mark Russinovich, chief technology officer of Azure at Microsoft. “Through an innovative combination of advanced algorithms and trusted execution environments (TEEs), like Intel’s Software Guard Extensions (SGX) or Windows Virtual Secure Mode (VSM), we believe this takes the next step toward making blockchain ready for business.”

The Coco Framework by design will be compatible with any ledger protocol and can operate in the cloud and on premises, on any operating system and hypervisor that supports a compatible TEE.

Initial Coco Framework implementations will include R3 Corda, Hyperledger Sawtooth, J.P. Morgan Quorum, and Ethereum.

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