What is Azure Blockchain Workbench?

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Has Microsoft actually created a platform via which you can build Blockchain based applications?

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On May 7, Microsoft announced the release of Azure Blockchain Workbench. Azure Blockchain Workbench is a tool that simplifies the development of blockchain applications and is targeted to help both business and developers.

Microsoft is promoting a workbench as a solution to solve the complex nature of blockchain application development for businesses. It seamlessly fits with business operations and existing systems with REST – API or message – based API functions. This makes it easier for companies to synchronize off-chain storage and database and on-chain data.

The company has gained overwhelming interest during the preview period of the workbench and there are already many companies and projects that use the following new services.

  • 3M – Fight with counterfeiting and supply chain management.
  • Rezchain – Travel agency payment adjustment.
  • Project Ubin – Clearing and settlement for banking and securities settlement.
  • Bank Hapoalim – Simplify and automate the bank guarantee process.
  • Apttus –Smart agreement to coordinate and modify securitized loans of secured debt instruments.

Microsoft continues to build blockchain solutions that include participation to promote the development of distributed identity initiatives and identification systems. The company was one of the founding members of the Enterprise Ethereum Alliance (EEA) linking Fortune 500 companies and experts in the Ethereum blockchain with Intel, JPMorgan, Accenture and others. EEA has succeeded in supporting enterprises to introduce smart contract technology into business and to improve efficiency at low cost. This is the main reason for the recent increase in blockchain trading at Eriam.

Microsoft Azure General Manager Matthew Kerner’s blog post states with Azure anyone can simplify the blockchain development process and turn it into “huge opportunities”. He thinks that everyone behind the Azure project is opening the world of blockchain development for every single human being on our planet.
“Microsoft is clear-eyed about the challenges facing customers beginning their blockchain journeys. We believe the best way to address design and integration challenges is with an open platform and set of tools that lower the barrier to experimentation. The Azure Marketplace features over 40 app accelerators, developer tools, and network deployment templates and has become an open hub for developers to not only access relevant tools and resources, but also to publish their own templates.”

Kerner gave a glimpse of Microsoft’s plan to further develop the platform in the future. “As we continue to learn with customers and partners, we look forward to extending its capabilities, open-sourcing more of its code and partnering with organizations to expand its usefulness.”

Edited answer