The Indian industries, as a whole, is going to experience a massive leapfrog through technology, yet again. The global tech giant, Microsoft, has announced to launch the Coco Framework, to facilitate the smooth adoption of blockchain technology for the Indian industries. This move is widely accepted by the country’s corporate houses and they are warming up to embrace the new technology.
The Coco Framework proves helpful for various industrial segments, including healthcare, financial services and retail. It is relevant to mention in this context that global brands like JP Morgan Chase, Intel and others happen to be ledger integration partners for this framework. Thus, they will integrate their patented blockchain ledger with Coco to ensure the smooth running of a client’s business.
According to reports, Microsoft has been claiming for quite some time that the Coco Framework is helpful reducing complexities in development techniques. However, to reap the optimum benefits, it has to be integrated with protocols like Corda or Ethereum. Experts are of the opinion that the framework is absolutely compatible with ledger protocol, as it has an open design. As such, Coco can work over the cloud and even on premises with equal smoothness.
Microsoft has been proactive, since a long time, to educate the corporate sector about the benefits the blockchain technology provides. It is because of the tech giant’s incessant effort and hard-work, the commercial world is aware of the fact that Blockchain acts as a record of every personnel and affair related to a business.
It may be appropriate to mention here that in the recent past, Microsoft was selected by BankChain, as the exclusive cloud partner. The objective was to research, build and implement blockchain solutions, through the MS Azure Blockchain, for a number of premiere Indian and international banks, including the State Bank of India, Bank of Baroda, ICICI Bank, Kotak Bank and others.