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Microsoft Introduces Coco Framework Concept With Bitcoin In Mind

Blockchain is more than just a technology being used for the transfer of  cryptocurrency like bitcoin. Enterprises are looking to utilize blockchain for smart contracts and other secure use case avenues. Among the many issues facing businesses looking to use blockchain are government regulations and transparency.

This week, Microsoft has released a technical white paper and demonstrations for its new  that’s seeking to address the problems facing enterprises seeking to implement blockchain technology. Through its embedded trusted execution environment (TEE), the Coco Framework has a secure box for blockchain code which is an open framework that can support other TEEs as needed. The trust is established with tools that include Intel’s Software Guard Extensions. As time progresses, enterprises can build a network of trusted areas which are in sync and running Coco code. The goal with this new offering is to significantly expedite transaction speeds to 1,600 per second.

The Coco Framework will be made available to the public most likely in early 2018. Enterprises using this new offering will have the ability to make orders without suppliers being able to see competitors. One of the more interesting features is that the Coco Framework will be compatible with any ledger protocol and can run either in the cloud or on site.

Rick Echevarria, Intel’s vice president of software and services group and general manager of Platforms Security Division, commented in its news announcement about this new offering. “We are thrilled to work with Microsoft to bring blockchain to the enterprise. Our mutual customers are excited by the potential of blockchain,” Echevarria said. “Intel is committed to accelerating the value of blockchains powered by Azure on Intel hardware, by improving the scalability, privacy and security of the solutions based on our technologies.”

With this push into the enterprise by Microsoft, it’s likely that blockchain technology will make further inroads to other mainstream uses.

 

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