The Redmond company has uncovered its fully managed blockchain service in coordination with the banking giant company JP Morgan. This was going to be announced on May 6 on which the Microsoft company is organizing its annual build event. Microsoft partnered with JP Morgan because the company believes that the best way to bring blockchain to its customers is by partnering with the talent open source communities.
As it happened earlier, there were doubts in the minds of the people. In order to clear the doubt regarding this blockchain service, Azure Blockchain Service will no more involve in carrying out cryptocurrencies transactions through an enterprise service meant for business and is going to allow them to build applications based on the blockchain service.
Microsoft has now integrated its blockchain service with Azure Active Directory. This integration has led to the development of a new dedicated app which can help to manage tasks like adding new members, granting permission to the members and monitor the network's health & activity, execute governed and private interactions through integrations with Azure Active Directory.
According to Microsoft users can create and deploy a permissioned blockchain network and manage the consortium policies using an interface in Azure Portal with just a few clicks. JP Morgan's Quorum is the first ledger on Microsoft's blockchain service. Quorum has the world's largest blockchain developer community.
Earlier, setting up a blockchain network required a host of command line tools and integrated IDE has a limited feature. Now with fully managed blockchain service, Microsoft is looking forward to making the task of configuring and maintaining a blockchain network a bit easier and simpler.
Companies like IBM and Amazon Web Service(AWS) are already equipped with fully managed blockchain service. The other companies have also understood the potential of blockchain service and are slowly trying to update their blockchain service as the benefit of this service is far better than the cryptocurrency.