Microsoft, Goldman Sachs, Cboe, Deloitte Unite to Launch Interoperable Blockchain

• A new partnership between Microsoft, Goldman Sachs, Cboe Global Markets and Deloitte is focused on developing a blockchain infrastructure.
• The goal of the Canton Network is to connect institutional applications and encourage wider adoption of distributed ledger technology in finance markets.
• The network will provide privacy features for institutional asset management, synchronize different financial markets, and integrate disparate institution applications.

Partnership to Develop Blockchain Infrastructure

Microsoft Corp., Goldman Sachs Group Inc., Cboe Global Markets Inc., and Deloitte have formed a new partnership with the purpose of developing a blockchain infrastructure that can link institutional applications and promote the wider implementation of distributed ledger technology in financial markets.

The Canton Network: An Interoperable Blockchain

The newly announced Canton Network is an interoperable blockchain with privacy features designed for use in the institutional asset management sector. It aims to synchronize various isolated financial markets while enabling integration among different institution applications; both feats are expected to have positive impacts on the entire industry. According to Bloomberg, this initiative could be a key factor in advancing ledger technology within finance markets.

Global Blockchain Market Expected To Surge

The global blockchain market is projected to grow from $7.18 billion in 2022 up to $163.83 billion by 2029, indicating huge potential for using this innovative technology in many industries. With the help of the Canton Network, financial platforms can be assured that their resources are kept secure while benefiting from seamless integration and functionality.

Improved Privacy & Control For Users

Canton Network users will be able to take advantage of its improved privacy features as well as greater control over their assets when beta testing begins in July of this year. Utilizing blockchain technology properly can open up new opportunities across various sectors; it has already been adopted by several banks and other institutions since its inception over a decade ago.

Conclusion

This collaborative effort between Microsoft Corp., Goldman Sachs Group Inc., Cboe Global Markets Inc., and Deloitte holds great promise for revolutionizing existing systems related to finance markets while providing improved security measures for all users involved. As adoption continues to increase during the next few years, these companies hope that their efforts will lead to more widespread acceptance of distributed ledger technologies moving forward into the future

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