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Microsoft, Bank of America advancing with blockchain, cryptocurrency technologies
Posted On 21 Dec 2015
Front lobby entrance of building 17, one of the largest buildings on the Main Campus portion of Microsoft’s Redmond campus. The circle in the lower-left is where cars drive up. Taken by Derrick Coetzee in April 2005, who releases all rights to the work and releases it into the public domain.
Over the past week, Microsoft and Bank of America demonstrated their increasing interest and investment into blockchain technology and cryptocurrencies.
Microsoft Azure’s Blockchain as a Service (BaaS) has opened its services to three more technologies, Finance Magnates reports. Last month, Microsoft announced its partnership with Brooklyn-based startup ConsenSys to give companies the ability to experiment with blockchain technology. At that point, the BaaS only supported Etherium technology. The newly added technologies are:
- CoinPrism – Offers the first colored bitcoin wallet. (Read more about CoinReport’s story on this announcement here).
- Eris Industries – Builds and hosts blockchains, smart contract libraries and blockchain developer training programs.
- Factom – Utilizes blockchain technology to create permanent data records for businesses and governments.
Bank of America Tower in New York City
While Microsoft increases its available blockchain services, Bank of America is focused on cryptocurrencies. CryptoCoinsNews reports the financial institution filed 10 new patents with the United States Patent and Trademark Office (USPTO) in June 2014. The patents are titled:
- Cryptocurrency Offline Vault Storage System
- Cryptocurrency Transformation System
- Cryptocurrency Risk Detection System
- Cryptocurrency Transaction Validation System
- Cryptocurrency Electronic Payment System
- Cryptocurrency Suspicious User Alert System
- Cryptocurrency Aggregation System
- Cryptocurrency Online Vault Storage System
- Cryptocurrency Transaction Payment System
- Cryptocurrency Real-Time Conversion System
These 10 patents follow another published by the USPTO in September related to using cryptocurrencies in wire transfers.
Image credits:
Microsoft building 17’s front lobby entrance – Public domain image by Derrick Coetzee
Bank of America NYC Tower photo – User Jleon (CC BY-SA 3.0)
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