Yahoo Finance Microsoft Partners With Waves Enterprise to Tokenize Industrial Assets
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.
See also: Microsoft Files Patent Application for Crypto Mining System Powered by Human Activity
UPDATE: (July 16, 16:00 UTC): This article has been updated to better distinguish Waves Platform from Waves Enterprise.
