Microsoft highlights Blockchain capabilities at Dubai forum
Company participating as ‘Digital Key Partner’ at inaugural UNLOCK Blockchain event
The COCO Framework is the key highlight for Microsoft at the ongoing UNLOCK Blockchain Forum 2018.
COCO, an open Azure-hosted platform to support blockchain technologies, is designed to address a range of business and technical requirements for security, performance and operational controls, while its data and AI platform provides off-chain data-management and analysis capabilities.
UNLOCK Blockchain forum aims to address the benefits and opportunities associated with Blockchain, through discussions centred on how governments and private enterprises in the MENA region can use blockchain applications to create more efficient governments, more resilient economies and more competitive businesses. Microsoft is participating at the forum as the Digital Key Partner, with its experts participating in panel discussions.
Ramez Dandan, the company’s chief technology officer for the Gulf region, and an expert in Blockchain applications, joined other panellists from Smart Dubai Office, Du, Delaware Blockchain Initiative and Wanxiang China, for a discussion titled “The Secret Sauce for Successful Blockchain Implementations”. The panel covered methodologies, legalities, and private and public collaborations necessary to implement successful blockchain solutions.
Dandan also delivered a keynote address at the conference, titled “Lessons Learned from Worldwide Blockchain Projects,” where he covered blockchain best practices developed by Microsoft, working with customers worldwide, as well as major elements of the company’s own blockchain approach.
“Investment in blockchain, across the GCC and beyond, is ramping up at an impressive rate, as organisations recognise it for the disruptive digital transformation technology that it is,” said Dandan, “Microsoft’s participation in UNLOCK follows its commitment in Feb 2016 to the Dubai Future Foundation’s Global Blockchain Council because we strongly believe in the technology’s immense potential for enterprises of all scales and industries. It allows them to share business processes with suppliers, customers and partners, leading to new opportunities for multi-party collaboration and, eventually, exciting new business models.”
Arising from the need to build reliable, secure audit trails for the digital currency bitcoin, Blockchain has gathered momentum as a means of maintaining trustworthy transaction records. Microsoft Blockchain platforms and services are designed to enable businesses make the most out of growing opportunities and benefits of blockchain, the company says.
“The Microsoft Cloud, Azure provides a rapid, low-cost, low-risk, and fail-fast platform for organisations to collaborate on by experimenting with new business processes—and it’s all backed by a cloud platform with the largest compliance portfolio in the industry,” added Dandan.