Microsoft supports Blockchain Canton Network

Microsoft supports Blockchain Canton Network

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Microsofttogether with others large companies such as Goldman Sachs, Deloitte, S&P Global and Moody’s have come together to support launch of Canton Networkthe blockchain that simplifies financial markets.

Microsoft and other major companies are supporting the launch of the Canton Network blockchain

Microsoft, Goldman Sachs, Deloitte, S&P Global and Moody’s are just a few large companies that have come together to support the launch of Canton Network: the blockchain that aims to simplify financial markets.

The press release lists the major companies that have joined Canton Network’s project.

On the list are 3Homes, ASX, BNP Paribas, Broadridge, Capgemini, Cboe Global Markets, Cumberland, Deloitte, Deutsche Börse Group, Digital Asset, DRW, Eleox, EquiLend, FinClear, Gambyl, Goldman Sachs, IntellectEU, Liberty City Ventures, Microsoft, Moody’s, Paxos, Right Pedal LendOS, S&P Global, SBI Digital Asset Holdings, The Digital Dollar Project, Umbrage, Versana, VERT Capital, Xpansiv and Zinnia.

In general, Canton Network aims to provide businesses a decentralized infrastructure which can make transactions more efficient by linking economic systems together and enabling them to operate in a synchronized manner.

What makes the connection of independent applications possible is Dam languageused for smart contracts, made by Digital resource.

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Microsoft and big business for Canton Network: how does blockchain work?

Continuing with the description, Canton Network wants to create a “network of networks” so that previously isolated systems in the financial markets can interact with the proper governance, privacy, permissions and controls required for highly regulated industries.

This is kind of unlimited synchronization of resources, data and money between applicationsso that financial institutions, like most supporting companies, can experience a more secure environment.

In this scenario, the Canton Network emerges as the blockchain that creates opportunities for financial institutions to offer innovative new products to their customers while improving their efficiency and risk management.

In this regard, Yuval Roozco-founder and CEO of Digital Asset said:

“We are proud to be a founding participant of the Canton Network. For the first time, financial institutions can realize the full benefits of a global blockchain network while operating within the regulatory railings that ensure a safe, sound and fair financial system. This is a significant step forward for the blockchain space. We look forward to helping this founding group of network operators and users build and connect applications to the Canton Network.”

The announcement of the integration of an Ethereum wallet

In March this year, Microsoft had made headlines on the news that it would integrate an Ethereum wallet into the Microsoft Edge browser.

Screenshots showed that the wallet would be custody-free, and there was speculation that the company was testing the new feature. But in reality neither at that time nor now has there been any official confirmation.

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Edge is the browser that, since 2015, has replaced the historic Internet Explorer, which was born in 1995. Currently, Edge is used by 4% of users, surpassing Firefox, but remaining among the still little-used browsers.

In contrast, Safari with 19% use and Chrome with almost 66% proclaim themselves as the most used browsers.


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