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Microsoft Backs Out of Blockchain Technology by Pulling Out Azure Services | Why?

Microsoft is now giving a timeline for migration for its Azure Blockchain Services users. Why? For those that don't know, Microsoft actually has its very own blockchain service which is reportedly coming to an end soon. ....

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Microsoft calls time on Azure blockchain-as-a-service

Microsoft calls time on Azure blockchain-as-a-service
Image: © fotomek/Stock.adobe.com
Microsoft has recommended that users migrate their ledger data to Quorum as it goes all-in on a partnership with ConsenSys.
A notice in the documentation for Microsoft’s Azure Blockchain Service announces that the service will be retired on 10 September 2021.
The support documentation from Microsoft guides users through the process of migrating their ledger data to an alternative service.
Existing deployments of the Azure Blockchain Service will continue to be supported until 10 September. However, as of 10 May, Microsoft ceased new deployments and member creation, according to ZDNet.
‘This collaboration with ConsenSys is designed to take the complexity out of managing the infrastructure necessary to run enterprise blockchains’ ....

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Microsoft to shut down Azure Blockchain Service

The decision to sunset Azure Blockchain Service after only two years was confirmed earlier this week, with Microsoft announcing its deprecation on 10 May.
With a deadline for the retirement set for 10 September, users are being requested to opt for an alternative platform.
The tech giant also provided a thorough migration guide which aims to guide customers, including GE, J.P. Morgan, Singapore Airlines, Starbucks, and Xbox, through the process, and recommended that they migrate their data to the ConsenSys Quorum Ethereum service.
“Based on your current development state, you can either opt to use existing ledger data on Azure Blockchain Service or start a new network and use the solution of your choice,” stated Microsoft. “We recommend creating a new consortium based on a solution of your choice in all scenarios where you do not need or intend to use existing ledger data on Azure Blockchain Service.” ....

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3 Blockchain Stocks to Buy in 2021 | The Motley Fool

salesforce.com (NYSE:CRM). Here s what investors need to know about how blockchain could impact the futures of these three companies.
Image source: Getty Images.
1. Microsoft
In 2018, Microsoft partnered with the giant U.K. consultancy EY (still well-known by its former name, Ernst & Young) to build a blockchain network that automates video game royalty payments. Specifically, the network makes it possible to code smart digital contracts that self-execute as transactions occur, improving transparency and efficiency for Microsoft, game publishers, and developers.
Publishers can now access royalty information in minutes, rather than the 45 days it took before. And Xbox finance operations are now 70% more efficient, according to Rohit Amberker, finance director of the Royalties and Content Operations team. ....

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EY and Microsoft Expand Xbox Enterprise Blockchain Platform for Rights and Royalties Management – Consumer Electronics Net

4 months ago
One of the largest production implementations of a blockchain-based financial system of record
Manages Microsoft’s end-to-end process for rights and royalties to its Xbox gaming partners, using machine learning to digitize and onboard contracts
Designed to deliver transparency, faster payment processing and near real-time calculation of royalty payments, with integrated data visualization for insights across contracts, statements, invoices and accounting records
NEW YORK–(BUSINESS WIRE)–Ernst & Young LLP (EY) and Microsoft today announce that they have expanded Microsoft’s blockchain-based solution for gaming rights and royalties management to provide a financial system of record, from contract creation to payment and reconciliation. ....

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