The Japanese arm of the famous technology giant Microsoft has recently partnered with a blockchain startup named LayerX – a story that is now everywhere in the cryptocurrency news mostly because of its high potential to “accelerate” the technology further.
LayerX is a startup that formed in August this year as a joint venture from the news curation app Gunosy and the advisory service AnyPay – overseeing blockchain integration for enterprise, including areas such as smart contracts as well as general consulting.
The startup will use the blockchain-as-a-service (BaaS) solution by Microsoft named Azure – seeking to promote the technology further in the domestic economy. As one press release noted:
“We will support the introduction process in its entirety, even down to technical support of finished implementations. Both companies will work toward realization of transformation of people’s lives and working practices by promoting the implementation of blockchain technology in various industries.”
Earlier this month, Microsoft also released the long-awaited cloud-based Azure blockchain development kit which was described as perfect for “connecting interfaces, integrating data and systems as well as deploying smart contracts and blockchain networks.”
This move by Microsoft Japan, however, could open up a plethora of new possibilities and continue Microsoft’s domination in the blockchain and cryptocurrency sphere, promoting the technology to its customers in a good way.
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“a) exchange between crypto assets, b) transfer of virtual assets, and c) participation in and provision of financial services related to an issuer’s offer and/or sale of a crypto asset.”Cyprus is one of the seven EU member countries that have already released a declaration that aims to promote the use of DLT in the region. Last fall, the national investment partner in the country, Invest Cyprus, signed a Memorandum of Understanding with VeChain Foundation from Singapore in order to work on multiple national level investment strategies that will be blockchain based.
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“Blockchain technology has established a highly mutual trust data sharing mechanism among tax authorities, invoice service providers, taxpayers and other parties. This is a major reason for the tax authorities to take a new step in deepening the [technological] reform [by] the distribution services.”Back in December 2018, one of the bigger cities in the Guangdong province-Shenzhen announced its success story of how blockchain technology helped with the tax invoices via the messaging app WEChat payment platform. Also, last year in November, the capital of the Guangdong and one of the most developed economic zones in China, Guangzhou, was chosen as a headquarters city for the new blockchain alliance. The alliance involves 54 different companies and is promoting blockchain technology in finances and trading. Countries around the world are opting for blockchain-based tax solutions because of the higher efficiency and transparency.
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- The Cyprus SEC Is Calling For EU Anti-Money Laundering Framework Implementation
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- Central Bank Of Japan Examines Digital Currencies According To New Report
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