Russian enterprise blockchain platform Waves Enterprise has inked a deal with the Russian branch of Microsoft. The relationship is primarily about making Waves Enterprise available on the Microsoft Azure cloud platform. They also plan to jointly develop analytics.
The announcement below refers to Waves applications that might include supply chains, notarising data and tokenization of enterprise assets. To date, Waves Enterprise has been involved in multiple energy related projects, including Russia’s state electric grid Rosseti and a hackathon organized by nuclear energy firm Rosatom. It has also been involved in the Vostock project for corporate and public sectors.
Note: we are experimenting with some articles, publishing the announcement, sometimes prefixed with a brief commentary.
Microsoft in Russia and the technology company Waves Enterprise have agreed on strategic cooperation in the field of innovative development and digital transformation in the corporate segment using blockchain solutions and cloud technologies. The corresponding agreement was signed by Kristina Tikhonova, President of Microsoft in Russia, and Alexander Ivanov, CEO of Web3 Technologies (developer of the Waves Enterprise platform).
The agreement provides for the widespread use of Waves Enterprise Microsoft Azure cloud technologies as part of joint initiatives aimed at introducing blockchain solutions in the corporate segment. Among the scenarios and business processes where the solution can be used are supply chain optimization, data notary, tokenization of enterprise assets and other processes. Waves Enterprise in the Azure cloud provides an opportunity for businesses to quickly create a corporate application or service that works in a trusted infrastructure, in the conditions of transparency of distributed processes, constant availability and data integrity.
The main areas of cooperation will be:
- Hosted e Waves’ Enterprise in the Microsoft Azure the Marketplace . This will make the Waves Enterprise solution available to a wide range of companies in Russia and around the world as part of the global Microsoft cloud ecosystem. At the same time, deployment from the cloud will significantly accelerate the implementation process, without requiring additional costs for its own infrastructure and configuration.
- Hosted e Waves Enterprise in the Microsoft Azure the Stack Hub . This will allow businesses to implement hybrid cloud scenarios and deploy Waves Enterprise enterprise blockchain network node in their own infrastructure in the Azure Stack environment. The Microsoft Azure Stack Integrated System is an expansion of the infrastructure of the Microsoft Azure cloud platform, which allows you to use the power of local data centers and the global Azure infrastructure as part of a hybrid approach.
- Creation of a service for transaction analytics based on Microsoft Azure .The companies plan to develop a joint cloud service based on Azure analytic tools, which will be integrated with the Waves Enterprise blockchain infrastructure. It will allow you to get structured data, including analytical reports and graphs with data on business processes from the blockchain network and blockchain applications, regardless of where the network nodes are located – in the cloud or deployed locally. The service will allow automatic audit of smart contracts and analysis of network transactions for anomalies or attempts to compromise the network, visualize the flow of tokens, and also provide the ability to integrate with third-party solutions to enrich the work of smart contracts in the system, for example, for insurance or risk analysis .
Also, under the terms of the memorandum, the companies will jointly develop ready-made scenarios for using blockchain technology by business to optimize corporate processes.
“Waves Enterprise is one of the leading international blockchain platforms that makes a significant contribution to the development of the ecosystem of decentralized solutions in the world. It is very important for Microsoft to support developers of innovative solutions and ensure the wide availability of modern technological tools for the development of Russian business. We are confident that our partnership will fully unlock the potential of blockchain technology in the corporate segment in Russia and around the world,” said Kristina Tikhonova , Microsoft President in Russia.
“We believe that the mutual exchange of experience with the world of IT – the leader and the one and of the most technologically advanced cloud’s companies will help implement the best international practices and create new service models for enterprise solutions based on the technology blokcheyn”, – says Alexander Ivanov , CEO of Waves Enterprise .
The document is signed for five years. The companies believe that the agreement will facilitate joint projects in the corporate segment, as well as positively affect the development of the corporate blockchain direction in Russia as a whole.