Per the recent announcement, Microsoft will integrate its Azure blockchain service with NFF, a technology which provides software for trading infrastructure and operations outsourcing, and fulfills Nasdaq’s risk and surveillance technology offering.
Within the collaboration, the parties will reportedly develop a “ledger agnostic blockchain capability” that will allow for operability across multiple ledgers. The new product will purportedly facilitate easier buyer and seller matching, management of delivery, and payment and settlement of transactions.
According to a press release, American software corporation Microsoft will integrate its Azure Blockchain technology into stock exchange Nasdaq Inc.’s Financial Framework (NFF).
Tom Fay, Senior Vice President of Enterprise Architecture at Nasdaq, said that the partnership with Microsoft removes some of the complexities of integrating blockchain technology into existing infrastructures. He added:
“Our NFF integration with their blockchain services provides a layer of abstraction, making our offering ledger-agnostic, secure, highly scalable, and ultimately helps us continue to explore a much broader range of customer use cases for blockchain.”
Integrating Azure Blockchain will reportedly allow NFF customers to deploy various blockchains through one common interface, in addition to promoting blockchain development.
In August, Azure introduced a proof-of-authority (PoA) algorithm on its Ethereum blockchain product. A PoA algorithm is based on the principle of approved identities or validators on a blockchain and does not require competition in completing the transactions.
The new Ethereum product on Azure is equipped with a number of features to ensure its correct functioning and security, such as an identity leasing system, Parity’s web-assembly support, Azure Monitor, and a Governance Decentralized Application (DApp).