After first emerging as the basis for the Bitcoin protocol, blockchain has since gained momentum as a way to digitize business processes that extend beyond the boundaries of a single organization.
While digital currencies use the shared ledger to track transactions and balances, enterprises are coming together to use the ledger in a different way. Smart contracts — codified versions of paper based agreements — enable multiple organizations to agree on terms that must be met for a transaction to be considered valid, empowering automated verification and workflows on the blockchain.
These digitized business processes, governed by smart contracts and powered by the immutability of blockchain, are poised to deliver the scalable trust today’s enterprises need. One Microsoft partner, SIMBA Chain, has created an offering that reduces the effort and time to start creating solutions using blockchain technology.
The Azure platform offers a wealth of services for partners to enhance, extend, and build industry solutions. Here we describe how one Microsoft partner uses Azure to solve a unique problem.