Microsoft has announced the launch of Coco Framework for smooth adoption of blockchain technology by Industries in India. The technology has attracted the attention of the myriad of industries across the country and Microsoft hopes that introduction of Coco Framework will lead to Blockchain's easy acceptance.
Moreover, Microsoft has been working constantly to educate industries about the advantages of blockchain technology and to promote it among customers and partners. Blockchain technology allows for convenient business operations simplifying processes across several subsidiaries that constitute a full-scale industry. In simplified terms, blockchain is a record of every affair and personnel related to a business. Coco Framework, on the other hand, is the foundation of blockchain for corporations.
Microsoft claims that the Coco Framework reduces the complexities of development techniques when integrated with protocols like Ethereum or Corda. Coco has an open design and is compatible with ledger protocol. It can operate over the cloud as well as on premises.
Coco Framework allows operation across various domains of industries including financial services, healthcare, and retail. Major companies including R3, Intel, and JP Morgan Chase are ledger integration partners for Coco Framework and they will integrate their proprietary blockchain ledger with Coco.
Recently, Microsoft was appointed as the exclusive cloud partner by BankChain, a platform for banks in India which includes pioneering banks like State Bank of India, ICICI Bank, DCB Bank, Kotak Bank, Bank of Baroda, Deutsche Bank, and others that use Microsoft Azure Blockchain to explore, build, and implement blockchain solutions across banks.