Microsoft strikes partnership with banks on blockchain technology

Microsoft strikes partnership with banks on blockchain technology

The Microsoft logo is seen on an electronic billboard on an office building in New York City. REUTERS.

Microsoft Inc. has pulled ahead of Alphabet Inc.’s Google, International Business Machines Corp., and Amazon.com Inc. in the race for supremacy in operating other companies’ blockchains.

Microsoft and R3, a consortium of 43 financial institutions, have formed a strategic partnership to accelerate the use of the blockchain technologies. Microsoft chief executive officer Satya Nadella announced the deal at the company’s Envision conference on Monday.

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