Two new patents from Microsoft reveal that the tech giant is looking to bolster its blockchain solutions with the use of trusted execution environments (TEEs), according to two filings published by the U.S. Patent and Trademark Office (USPTO) August 9. Both applications outline how the use of TEEs could further improve security within a consortium blockchain network, which requires that specific nodes are endorsed to act as validator nodes (VNs) on the blockchain. As Microsoft’s first patent filing indicates, TEEs can help to improve the security of such networks in the following way: “In one example of the technology, a …

Microsoft’s cloud platform Azure has introduced a proof-of-authority (PoA) algorithm on its Ethereum (ETH) blockchain product, according to a blog post Aug. 7. The new Ethereum network algorithm will reportedly allow a “more efficient” way of building decentralized applications (DApps) for private or consortium networks, where “all consensus participants are known and reputable.” In contrast to proof-of-work (PoW) — the existing protocol on Azure — a PoA algorithm is based on the principle of approved identities or validators on a blockchain, and does not require competition in completing the transactions. The new Ethereum product on Azure is equipped with a …

Bitcoin (BTC) has seen solid growth to break back above the $7,000 mark today, August 7. The overall crypto market is seeing a healthy flush of green, rallying forth after the weekend’s losses, as data from Coin360 shows. Market visualization from Coin360 Bitcoin (BTC) is trading around $7,118 at press time, up around 2.5 percent on the day. After several faltering attempts to break past the $7,000 threshold yesterday, the leading cryptocurrency has today seen a sustained uptick as of very early trading hours. Today’s growth has not yet pushed the coin’s weekly price change back into the green, however, …

Former Amazon Web Services (AWS) and Microsoft employee Tim Wagner has joined Coinbase as vice president (VP) of engineering, according to a blogpost August 6. Wagner will now lead Coinbase’s engineering team, which is “central to [Coinbase’s] mission of creating an open financial system for the world,” Coinbase writes in the post. Aiming to build the “most open, secure, and accessible financial system,” Wagner will also be responsible for expanding the team by hiring engineering talent in San Francisco, New York, and Chicago, according to his LinkedIn profile. Prior to Coinbase, Wagner served as general manager (GM) at AWS for …

August 6: Bitcoin (BTC) is making several attempts at breaking back above the $7,000 mark, staking its recovery after a sharp market tumble this weekend. Many major cryptocurrencies continue to see minor losses, as data from Coin360 shows. Market visualization from Coin360 Bitcoin (BTC) is trading around $6,974 at press time, down 1.17 percent on the day. The leading cryptocurrency has made several attempts to break above the $7,000 threshold, trading as high as $7,127 in early trading hours. These fleeting spikes failed to hold as of press time however, and the coin’s losses on the week now tally above …

Starbucks has clarified that it will not be accepting Bitcoin (BTC) or other cryptocurrencies as payment, despite misleading reports from mainstream media, a spokesperson told Motherboard Friday, August 3. Earlier on Friday, New York Stock Exchange (NYSE) operator the Intercontinental Exchange (ICE) announced plans to create a new “global platform and ecosystem for digital assets,” dubbed “Bakkt,” alongside a group of big name enterprises including Starbucks, BCG and Microsoft. Following the major announcement, a number of mainstream media outlets, including Bloomberg and CNBC, ran misleading headlines –– such as CNBC’s “New Starbucks partnership with Microsoft allows customers to pay for …

Crypto markets have taken a vertiginous plunge today, August 4, with Bitcoin (BTC) losing almost $500 in the six hours before press time to dip below $7,000, and all of the top ten cryptocurrencies by market cap in the red, as data from Coin360 shows. Market visualization from Coin360 Bitcoin (BTC) is trading around $7,028 to press time, having lost almost $500 on the day to plummet to a price point not seen since July 17. The leading cryptocurrency has seen an intra-day low of $6980, with some crypto analysts today noting that $6,800 has become its short-term critical support …

Intercontinental Exchange (ICE), the operator of 23 leading global exchanges including the New York Stock Exchange (NYSE), has announced plans to create a Microsoft cloud-powered “open and regulated, global ecosystem for digital assets,” according to a press release published August 3. The operator of NYSE is forming a new company, dubbed “Bakkt,” and will work alongside a marquee group of enterprises that includes BCG, Microsoft, Starbucks, and others, to create the new ecosystem. The intention is to create an integrated platform that enables consumers, merchants, and institutional clients to buy, sell, store, and spend digital assets on a “seamless global …

Singapore Airlines (SIA) has launched its own airline loyalty digital wallet that uses blockchain technology, it announced July 24. The software has been co-developed by Microsoft and KPMG Digital Village, according to the press release. The new wallet -- dubbed ‘KrisPay’ after SIA’s ‘KrisFlyer’ loyalty programme -- converts frequent flyer miles into digitized ‘KrisPay miles’ that can be used to pay for retail purchases via a mobile app. As minimum expenditure, users of the wallet can spend 15 KrisPay miles (equivalent to about S$0.10, or US$0.73) to make or offset purchases at point-of-sale for food and drink, petrol, beauty treatments, …

A cloud platform, with the goal of building a fairer internet, has made its mainnet live — allowing its growing suite of network-ready applications to offer faster and more secure hosting services for websites, APIs, apps and e-commerce stores. DADI says its peer-to-peer network helps to shift the emphasis of computing power away from large corporations, as its infrastructure is owned by users. The company claims that those who use its network enjoy greater performance and efficiency as a result, with costs slashed by as much as 60 percent when compared to traditional cloud providers. This shift away from server …

The Taiwanese subsidiary of tech giant Microsoft has partnered with tech investment company China Binary Sale Technology and High Cloud to create a platform for enterprise blockchain development, according to a press release from Microsoft June 28. Microsoft will provide its Azure cloud platform as a base for China Binary’s blockchain service. The three-part partnership reportedly intends to transform various industries such as finance, e-commerce, and entertainment, focusing on the Asia-Pacific region. Taiwan Microsoft’s general manager Sun Jikang expressed his confidence about Microsoft’s ability to improve the security and operation speed of China Binary’s blockchain service. He also highlighted the …

Microsoft has partnered with Adents, a supply tracking solutions provider, to develop a new product tracking platform using blockchain technology and artificial intelligence (AI), Food Engineering reported June 14. The new blockchain solution, which is called Adents NovaTrack, was presented at Viva Tech 2018 in Paris. The system offers end-to-end traceability and visibility from the point of origin along the whole supply chain, allowing users to trace single product items within a case. The product was initially designed for the pharmaceutical industry in order to fight distribution of fraudulent copies of drugs, but the developers are reportedly targeting other high-value …