Syscoin Announces Partnership with Microsoft Azure

News and Analysis

Syscoin, an altcoin and a decentralized market platform provider, has announced it partnered with Microsoft Azure via its BaaS (Blockchain as a Service) platform.

“Considering our motto “Business On The Blockchain”, we feel that the addition of Syscoin to BaaS embodies the very direction we want to take. We look forward to developing innovative ideas that will benefit Microsoft’s customers as well as the entire Crypto-Space,” the press release reads.

Syscoin intends to deploy their app Blockmarket to Azure. The app will allow merchants to launch their own branded decentralized marketplace portal, using Syscoin’s BaaS offering.

“Blockmarket is an open source, cross-browser web experience which is also fully mobile compatible. It allows anyone to easily create a decentralized marketplace with one click and customize the shopping experience to fit the needs of their market,” the team stated in the press release.

Following earlier addition of Bitcoin to Syscoin’s platform, users will be able to make their purchases with those two cryptocurrencies. The system has passed beta-testing phase. The team intends to launch Blockmarket shortly after the release of Syscoin 2.0, an updated version of the platform.

Marlee Gray, Microsoft’s director of technology strategy, has previously stated that he wanted the Azure BaaS platform to scale up into a “certified blockchain marketplace.”

Microsoft Azure has become very popular with crypto-companies after introduction of an experimental blockchain-based platform in late 2015. The corporation has presented a new developer’s toolkit to enable creation of applications based on Ethereum protocol. Microsoft partnered with ConsenSys to provide the Azure customers access to BaaS platform.

Payments processor BitPay, blockchain-based service for bonus programs Manifold Technology, bitcoin taxation consulting firm LibraTax, and Emercoin platform joined the initiative shortly after the announcement. The move may have caused Emercoin’s price to upsurge.

Additionally, Ukraine’s blockchain system for state property privatization also employs Microsoft Azure services. The system allows anyone to launch access points for state auctions and even purchase state property for cryptocurrency.

Follow ForkLog on Twitter and Facebook!

Found a typo? Highlight text and press CTRL+ENTER

Subscribe to our Newsletter


Related posts

Tags: , , ,