Microsoft Partners With Waves Enterprise to Tokenize Industrial Assets
The five-year agreement will see Microsoft and Waves collaborate on a possible asset tokenization platform for company equipment.
Jul 16, 2020 at 11:22 a.m. UTCUpdated Aug 19, 2021 at 3:09 a.m. UTC
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Waves' corporate arm is planning on working with Microsoft's Russian subsidiary, in part to create an asset tokenization platform for company equipment.
- Waves Enterprise said Wednesday it had signed a five-year memorandum with Microsoft Russia to work jointly on corporate blockchain solutions.
- Waves Platform is a Moscow-based tokenization project; Waves Enterprise was founded in July of last year to offer services to corporate clients on private blockchains.
- Although nothing has been confirmed, Waves said both sides wanted to use blockchain for new supply chain solutions as well as for the "tokenization of industrial assets."
- An industrial asset is a catch-all term that can refer to anything from heavy machinery to basic office equipment.
- Microsoft Russia CEO Kristina Tikhonova said the partnership was a push towards the country's business sector getting to grips with blockchain technology.
- Future solutions could be made available in Russia and internationally, Waves said.
- The tie-in will look at the interplay between blockchain and cloud technologies; Waves Enterprise said it will also build a data analytics solution based on Microsoft Azure, the company's cloud computing service.
- In April, Russia's Ministry of Communications officially recognized Waves as a potential technology provider for future government initiatives.
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UPDATE: (July 16, 16:00 UTC): This article has been updated to better distinguish Waves Platform from Waves Enterprise.
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