Not long after Microsoft announced the Coco platform, a new blockchain framework for enterprise networks, the tech giant is now partnering with Cornell Tech. Faculty from Cornell, Cornell Tech, Technion Israel Institute of Technology, UC Berkeley, and the University of Illinois at Urbana-Champaign will all be working with Microsoft in its Initiative for Cryptocurrencies and Contracts (IC3).
The blockchain initiative IC3 will act as the next generation of technology aimed to improve secure and transparent transactions. The collaboration was founded to advance what blockchain technology has already accomplished, according to an interview with Newswise.
“As we continue our journey in blockchain, we have watched and read the work of the IC3 team and are impressed with their thinking and the perspective they bring to the community. We are very aligned with the approaches IC3 blockchain experts are taking to address scale, simplification, and other topics of interest for enterprise adoption. The synergies in their research fit well with our visions for enterprise scale blockchain solutions,” said Yorke E. Rhodes III, Global Blockchain Business Strategist, Microsoft. “We are excited to work more closely with IC3 through this membership.”
Microsoft's continued contribution into blockchain research and technology only emphasises its commitment to improving enterprise.