Microsoft and LayerX hope to propagate blockchain technology throughout Japan’s domestic market.
The Japanese arm of computer giant Microsoft has partnered with nascent blockchain startup LayerX to “accelerate” uptake of the technology, Cointelegraph Japan reported Nov. 30.
LayerX, which formed in August as a joint venture from news curation app Gunosy and advisory service AnyPay, oversees blockchain integration for enterprise, including areas such as smart contracts and general consulting.
Using Microsoft’s Azure Blockchain-as-a-Service (BaaS) solution, the companies will seek to promote the technology further in the domestic economy.
“We will support the introduction process in its entirety, even down to technical support of finished implementations,” an accompanying press release stated, adding:
“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 released its cloud-based Azure blockchain development kit, which executives said would initially focus on three areas: “connecting interfaces, integrating data and systems, and deploying smart contracts and blockchain networks.”
The Japan move forms the latest in the country’s ever-increasing activity in both the blockchain and cryptocurrency sphere, with multiple entities involved in promoting the technology among consumers.
Two Japanese cryptocurrency exchanges, Coincheck and Zaif, meanwhile continue to recover from hacks in January and September this year that saw losses totaling almost $600 million.