Microsoft Partners with Waves to Tokenize Industrial Assets
Waves’ corporate arm is planning on working with Microsoft’s Russian subsidiary in part to create an asset tokenization platform for company equipment.
- Waves Enterprise said Wednesday they had signed a five-year memorandum with Microsoft Russia to work jointly on corporate blockchain solutions.
- Waves is a Moscow-based tokenization platform; Waves Enterprise was founded in July last year to offer services to corporate clients on private blockchains.
- Although nothing has been confirmed, Waves said both sides wanted to use blockchain for new supply chain solutions as well as for the “tokenization of industrial assets.”
- An industrial asset is a catch-all term that can refer to anything from heavy machinery to basic office equipment.
- Microsoft Russia CEO Christina Tikhonova said the partnership was a push towards the country’s business sector getting to grips with blockchain technology.
- Future solutions could be made available in Russia and internationally, Waves said.
- The tie-in will look at the interplay between blockchain and cloud technologies; Waves Enterprise said it will also build a data analytics solution based on Microsoft Azure – the company’s cloud computing service.
- In April, Russia’s Ministry of Communications officially recognized Waves as a potential technology provider for future government initiatives.
Disclosure
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
