Why Microsoft Azure Integrates Blockchain Crowdfunding Platform Waves

Waves, a decentralized crowdfunding platform developed in Russia, is now available in the Microsoft Azure Blockchain as a Service cloud (BaaS). With Waves integrated into BaaS, developers are getting vast opportunities for offering a wide range of Blockchain solutions.

The introduction of Waves Platform on BaaS provides new opportunities for companies and software developers who would like to issue tokens using a Blockchain.

“Microsoft was one of the first major IT companies to officially acknowledge the potential of Blockchain technology. Azure was designed to offer affordable solutions to companies that, due to their size, wouldn’t have enough resources to launch their own software platforms. Blockchain as a Service is a quick, economical, low-risk platform for deploying open Blockchain protocols,” says Alexander Ivanov, CEO of Waves Platform.

He adds:

“As an open, flexible and scalable cloud platform, Azure has a lot in common with Waves. We are also looking at new ways of computing, and of making powerful functionality available to end consumers.”

Konstantin Goldstein, Microsoft Russia’s Principal Technical Evangelist, comments:

“Waves Platform enables developers to quickly launch ICO projects (a crowdfunding method), or issue tokens for loyalty programs.”

He explains further: “This new addition to the BaaS pool of platforms contributes to shaping a unique environment for developers and for companies interested in Blockchain projects. Blockchain as a Service will enable them to set up a Blockchain infrastructure in one click, as well as integrate advanced technologies in their projects, such as artificial intelligence, the Internet of Things, and so on.”

Why Microsoft needs the Waves
Cointelegprah asked Konstantin Goldstein what is Microsoft’s vision on Blockchain technology. Here are his answers.

CT: Why does Microsoft need this integration?

KG: Microsoft’s strategy in Blockchain is to develop market infrastructure with partners and clients.Expanding our platforms pool in Azure Blockchain as a service gets us closer to fulfill this task. Integrations like this in Azure BaaS forms unique possibilities for developers and companies, who is eager to make Blockchain-products.

"Constantly improving instruments of Azure BaaS gives the possibility to create, test and implement Blockchain projects for systems such as Ethereum, Ripple, Сorda and now Waves. Developers in short timing can create new products and services, to make companies more competitive on the market."

CT: How does Microsoft see the future of Blockchain technology?

KG: For the moment, Blockchain is one of the breakthrough technologies. It helps to create new business models in different economy sectors, for big corporations, as well as for small startups. We think, that Blockchain will be the main driver for digital transformation of majority economy sectors.

In the coming years, we see the perspective spheres for Blockchain the following - finance, healthcare, insurance, retail, real-estate, music industry and real estate registry services.

Processes, which took days and weeks, now with Blockchain can be done in minutes: to make documents flow between counterparts, to improve reliability and accessibility of services and products for clients.

Blockchain technology is young and needs improvements for high scale implementation. In particular high capacity, scalability and integration of technology with existing services have to be solved.

In Microsoft, we are working on architectural approach - Bletchley. It is the new step in developing Blockchain, since Bletchley will be able to integrate Blockchain-solutions with popular services as CRM, ERPm Data Base and with technologies such as IoT, Big Data etc. The advantage of technology is high performance, security, fault tolerance and transparency of all processes.

Microsoft Azure already features a wide range of Blockchain solutions, including Ethereum, Chain Core, Corda, Nxt, Lisk, and Waves. Together, they form an elaborate ecosystem known as Blockchain as a Service, which supports the creation of all kinds of Blockchain projects for all kinds of purposes and for companies of any size.

Waves background
Waves Platform is a decentralized platform for launching crowdfunding campaigns and issuing digital assets. It is the largest Blockchain project to originate from Russia. With 100 mln Waves tokens and $16 mln in crowdfunding investment, according to Coinmarketcap, it has $95 mln market capitalization.

The Waves encryption platform is primarily designed to support the issuance, trade and exchange of digital assets/tokens using Blockchain technology. The project is characterized by its emphasis on usability and widespread application. It is supposed to use Proof-of-Stake as its consensus algorithm. Waves Platform completed its Initial Coin Offering in June 2016, garnering more than $16 mln (30,000 BTC) and becoming one of the top three most successful Blockchain projects in terms of crowdfunding investment.