Microsoft to join IC3

Microsoft Corporation has joined the Initiative for Cryptocurrencies and Contracts (IC3). This initiative is focused on financial systems optimization with the help of the blockchain technology.

The main project objective is to increase the flexibility, transparency, security and efficiency of financial organizations. Professionals from the Cornell University and the Cornell Tech campus, the University of California, Berkeley, the University of Illinois and the Technion Institute in Israel are participating in the research and development of these cutting-edge technologies.

The representative of Microsoft, the business strategist and blockchain analyst York Rhodes III, told that his employers are very eager to collaborate with the IC3 team that consists of many talented people. Their minds can help the company to develop blockchain solutions for large business appliances and his employers are “very aligned with the approaches IC3 blockchain experts are taking to address scale, simplification, and other topics of interest for enterprise adoption”.

Microsoft is actively developing its own Coco Framework platform that will improve speed and security of financial transactions and is interested in the blockchain implementation in general, so this collaboration with the IC3 talents will come in handy.