Every day, there are more companies that seek to integrate blockchain technology into their internal processes. As an example, Microsoft, the important technology company, seeks to take advantage of the rise of this new technology with the aim to implement its benefits to technological projects.
In recent years, blockchain technology has been found in high levels of adoption among different technology companies worldwide facilitating internal processes that were previously done manually or even helping to store vital information that previously represented a concern for companies to maintain security at high standards. In this way, Microsoft is in the task of developing a project that helps integrate blockchain technology into its systems to develop projects related to tokens.
Microsoft has realized that there are big problems to integrate the tokens in its blockchain platform, Azura. Thus, the company recently announced that they are in the process of developing solutions to facilitate this initiative.
Marley Gray, who is a designer of the system used at Microsoft, explained this integration process using a metaphor with the ink cartridges of the printers. In this sense, he explained that, previously, printers only worked with the ink cartridges that were designed for each specific model. Today, it is possible to connect any printer to any electronic device and it will work. This is a way to make the use of technology easier without unnecessary complications.
The idea of this Microsoft blockchain system was born with the intention of solving these problems. In this way, Azura would seek to allow its developers to design tokens for independent applications that are based on blockchain technology. Given this, a series of specific patterns and codes are available to faster access, which can be used as a foundation for the creation of new currencies. This initiative, called Token Taxonomy Initiative (TTI), has the support and approval of other technology companies such as IBM, Digital Asset and R3.
About this project, Gray commented on the challenges and benefits of a platform like this for the industry. “We are creating a cloud platform where any token within the TTI framework can fit into place (…) So you can build applications where you want to use, to use tokens with, for example, Dynamics, SAP, applications in the Office suite (from Microsoft) or some other business automation process”, Gray said.
This whole project addresses the field of new technologies and their complex processes with various areas of the global economy. For Microsoft, integrating a token system into its Azura platform can bring opportunities for new ways of making financial negotiations in the future, using the company’s products and services as a central medium.
In addition, it is expected that Microsoft can even expand its markets by maximizing the potential of blockchain technology, since it is proven that this technology can be perfectly applicable in health, education, administration, among many other areas.
By María Rodríguez