David Rutter, R3
Microsoft Corp. has announced the Coco Framework, intended to advance enterprise adoption of blockchain technology. Current blockchain protocol technology requires complicated development techniques to meet the operational and security needs of enterprises. The Coco Framework aims to reduce this complexity, and when integrated with blockchain networks addresses critical needs for commercial adoption like high-transaction speed, distributed governance and confidentiality.
When integrated with a blockchain network, key features of the Coco Framework include:
- Transaction speeds of more than 1,600 transactions per second
- Data confidentiality
- A distributed governance model for blockchain networks that establishes a network constitution and allows members to vote on all terms and conditions governing the consortium and the blockchain software system
The Coco Framework will be compatible with any ledger protocol and can operate in the cloud and on premises, on any operating system and hypervisor that supports a compatible TEE. Initial adopters include R3 Corda, Intel Sawtooth Lake and J.P. Morgan Quorum, which have agreed to integrate their blockchain ledger platforms with the Coco Framework.
"The R3 Corda platform was built for enterprises. We designed it with the financial industry from the ground up to solve real business problems, but we also knew it had to be deployable and manageable in today's complex IT landscape," said David E. Rutter, CEO of R3. "No other distributed ledger technology platform is as interoperable or easily integrated, and partnering with Microsoft is another milestone in our mission to facilitate a world of frictionless commerce."
Microsoft will launch the framework on GitHub in 2018 as an open source project and will work with customers and partners, as well as the blockchain technical and business communities, to continue advancing foundational blockchain technology.