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polynesia (OP)
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November 13, 2015, 12:16:01 AM
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Microsoft's big bitcoin bet: Launches cloud-based blockchain platform for banks

http://www.firstpost.com/business/microsofts-big-bitcoin-bet-launches-cloud-based-blockchain-platform-for-banks-2504112.html

Microsoft launched a cloud-based blockchain platform on Tuesday with Brooklyn-based start-up ConsensYs, which will allow financial institutions to experiment cheaply and easily with the technology underpinning bitcoin.

The blockchain works as a huge, decentralized ledger of every bitcoin transaction, which is verified and shared by a global computer network and therefore is virtually tamper-proof.

The financial industry is increasingly investing in the technology, betting it will reduce costs and increase efficiency.
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It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
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November 14, 2015, 01:55:54 AM
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Other media houses have covered this as well.

http://gadgets.ndtv.com/internet/news/microsoft-launches-cloud-based-bitcoin-with-brooklyn-startup-764224
http://www.ibnlive.com/news/tech/microsoft-launches-cloud-based-blockchain-platform-with-brooklyn-start-up-1163181.html
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