Microsoft introduces Coco Framework, makes blockchain networks enterprise ready

Intel, Microsoft to bring blockchain service to the enterprise

Tom Krazit, GeekWire's cloud and enterprise editor, said Coco Framework "aims to help companies use blockchain ledger technologies to facilitate transactions between customers, suppliers, or anyone with whom they do business". Providing these foundational capabilities, Coco Framework opens up more complex, real-world blockchain scenarios across industries - like financial services, supply chain and logistics, healthcare and retail - further proving blockchain's potential to digitally transform business.

Network policy management through distributed governance. The Coco Framework reduces this complexity, and when integrated with blockchain networks addresses critical needs for commercial adoption like high-transaction speed, distributed governance and confidentiality. The company now supports various blockchain efforts including Ethereum and the Linux Foundation's Hyperledger project.

"To start with a general framework is a step in the right direction for the advertising industry", said Ken Brook, CEO at MetaX, which is building out technology to run on top of the Ethereum blockchain specific for digital advertising. Microsoft has already begun integrating Ethereum into Coco and we're thrilled to announce that J.P. Morgan Chase, Intel and R3 have committed to integrating enterprise ledgers, Quorum, Hyperledger Sawtooth and Corda, respectively.

R3 is a software firm that developed Corda, which is a distributed ledger platform designed specifically for financial services.

According to Intel, its Software Guard Extensions (SGX) is hardware-based security technology that provides a trusted execution environment by isolating key portions of a blockchain program.

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The technology consists of a set of CPU instructions and platform enhancements that create private areas in the CPU and memory that can protect code and data during execution.

Industry enthusiasm for blockchain is growing, and while it will still take time for blockchain to achieve enterprise assurance, we remain laser focused on accelerating its development and enterprise adoption in partnership with the community.

This means every participant in the blockchain network would execute all transactions added to it, making them visible to everyone with no confidentiality and unsuitable for enterprise use. In a member consortium blockchain network, member identities and nodes are known and controlled, and it becomes a controlled IT environment.

Mark Russinovich, chief technology officer for Microsoft Azure, did the introductions in the video and he provided the quick-stick explanation of what this is all about: "The foundation of blockchain for business".

Microsoft is now testing the Coco Framework with its partners R3, Intel, J.P. Morgan, and Ethereum. American Banker said Coco stands for confidential consortium, and it will be posted to Github as an open source project in early 2018.

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