Big tech companies continue to show great interest in the blockchain technology and Microsoft, the first one to bring blockchain to the cloud, recently announced that it had integrated Lition as a service (BaaS) provider on Azure. This marks an important milestone for the broader blockchain integration since this is one of the few public/private blockchains currently supported by a major cloud provider.
How will Lition improve the Azure services?
Lition is one of the popular commercial blockchains and Microsoft’s decision had been motivated by the opportunity to gain further traction and usage by making the blockchain technology visible to a large customer base. Benni Woerpel, Lition’s online marketing manager, recently talked about some of the most important features in a medium.com article:
Organizations and businesses worldwide can now develop, test, and deploy Lition sidechains and applications easily and efficiently using Microsoft’s Azure cloud computing infrastructure. Lition’s user community will enjoy a higher grade of convenience with streamlined deployment and management. Anyone can deploy sidechains or join the network as a validator through preconfigured settings on Azure that are available with the click of a button.
More blockchain adoption
Microsoft’s cloud business continues to be one of the most important revenue streams for the tech giant. Azure is a platform dominating the cloud industry, currently holding the second-largest share of the $229 billion public cloud market. The Amazon Web Service (AWS) continues to be on top of the list, with 32.4% of the cloud market share in the last quarter of 2019.
Competition is even more fierce now at the top and the decision to implement the blockchain technology communicates tech companies are looking for ways to innovate, improve productivity, and provide added value to their customers.
Back in 2019, Walmart was rumored to develop its own cryptocurrency, joining other rivals like Rakuten in the race towards blockchain integration. Although this is a major step towards a well-functioning economy, we must also emphasize that it had little impact on traditional cryptocurrencies.
Despite Bitcoin breaking above $10,000 recently, there continues to be a wide gap between blockchain and cryptocurrencies, since companies are now fully aware they don’t necessarily need crypto in order to take advantage of the blockchain. This gap could get smaller if more steps will be taken towards regulating the industry. Until then, big companies will look for ways to leverage the potential of the blockchain, while keeping distance away from cryptocurrencies.