Microsoft is joining IC3 to transform financial systems using blockchain PDF Print E-mail
Written by Wayne   
Monday, 04 September 2017 16:29

cryptocurrencyIC3 (Initiative for Cryptocurrencies and Contracts ) is an initiative of faculty members at Cornell University, Cornell Tech, UC Berkeley, UIUC and the Technion. Last week, Microsoft announced that they will join IC3 along with other finance and technology companies to transform future financial systems to be much more flexible, transparent, efficient and secure. We have seen several white papers on blockchain-based solutions which could transform the financial industry. IC3 is working with leaders in finance and banking, entrepreneurs, government, and open source software communities to move these blockchain-based solutions from proof-of-concepts to fast and reliable financial systems of execution and record. “As we continue our journey in blockchain, we have watched and read the work of the IC3 team and are impressed with their thinking and the perspective they bring to the community. We are very aligned with the approaches IC3 blockchain experts are taking to address scale, simplification, and other topics of interest for enterprise adoption. The synergies in their research fit well with our visions for enterprise scale blockchain solutions,” said Yorke E. Rhodes III, Global Blockchain Business Strategist, Microsoft. “We are excited to work more closely with IC3 through this membership.”