Microsoft and Goldman Sachs join Canton Network

• The new platform is a data protection blockchain called Canton Network.
• The Canton Network enables interoperable and synchronized financial transactions and thus releases efficiency and innovation.
• Microsoft is a supporting partner and joins companies such as BNP Paribas, Deutsche Börse Group and Goldman Sachs.

Microsoft is one of several global technology and financial companies that want to promote interoperability on the financial markets via a new data protection-capable blockchain network.

The blockchain geared towards institutions is called Canton Network and offers access to a decentralized infrastructure that aims to release the potential synchronized financial markets, as in A press release

The Canton Network consortium includes the cryptoplattform Digital Asset, the investment banking providers BNP Paribas and Goldman Sachs as well as the accounting giants Deloitte. Other partners include CBOE Global Markets, Cumberland, Group Deutsche Börse, Equilend, Moody’s and Paxos.

Use the power of blockchain technology

created as a "network of networks", Canton will see that previously isolated systems work together within the ecosystem of the financial markets - whereby industry players benefit from aspects such as proper governance, data protection and permits that apply to the heavily regulated sector.

In addition to using the performance of blockchain, the project will also aim to advance the integration of web3 and AI in the financial sector.

Rashmi Misra, General Manager AI & Emerging Technologies, Business Development at Microsoft, said:

" We are happy to be a supporting partner of the Canton Network. We look forward to supporting the financial world in creating and scaling cloud-enabled web3 applications on Azure and at the same time using the performance of AI to improve the user experience and to promote the acceptance of developers ."

The participants of the Canton Network will test the interoperability skills of the platform from July. Users can carry out nuclear transactions across several intelligent contracts, with cross -chain crossing, data protection and security.

The introduction of blockchain technology and digital assets at financial institutions and payment providers has increased after a doldrum that was accompanied by the turbulence of the crypto winter and the regulatory uncertainty.

Newer steps in this direction were taken by companies such as Visa and Mastercard.