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Microsoft Releases Ethereum App Development Kit for Azure Cloud

Microsoft releases ethereum app development kit for azure cloud

Microsoft Releases Ethereum App Development Kit for Azure Cloud

Microsoft releases ethereum app development kit for azure cloud

Tech giant Microsoft has released a suite of tools allowing clients to build ethereum-based apps on its cloud computing platform Azure.

The new Azure Blockchain Development Kit for Ethereum will help developers create and deploy ethereum-based apps on Azure Blockchain Service or the ethereum blockchain, Chris Pietschmann, Microsoft MVP (most valuable professional) and founder of BuildAzure.com announced in a blog post on Monday.

The ethereum development kit comes as an extension to Microsoft’s source-code editor Visual Studio Code, allowing developers to create and deploy ethereum smart contracts and utilize open-source blockchain tools such as Solidity and Truffle.

On its GitHub page about the kit, Microsoft explains: “Azure Blockchain service is a managed Ethereum service that you can deploy and interact with Solidity contracts as well as integrate into other Azure based services such as Azure Flow, Logic Apps or storage services like SQL Server or Cosmos DB.”

The extension is supported on both Windows 10 and macOS, Pietschmann said, adding that it can also run within a Virtual Machine in Azure.

He further noted:

“Sure, there have been Solidity and other Blockchain technology extensions for Visual Studio Code published by others in the community, however now there is also an official set of tools published by Microsoft.”

Last month, Microsoft launched a token-building kit in association with the Enterprise Ethereum Alliance, aimed to help businesses design and create the suitable cryptocurrency tokens for their particular needs. It’s also rolled out “proof-of-authority” ethereum consensus on Azure, which replaces the proof-of-work mining process that is commonly used by public blockchains.

Further, the company said last week that it will promote JPMorgan Chase’s Quorum blockchain to its business customers through Azure platform.

Microsoft image via Shutterstock

Published at Tue, 07 May 2019 11:15:02 +0000

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Malaysia Remains Open to Crypto Trading

With the majority of Asian nations attempting to regulate cryptocurrency exchanges, the number of those declining to clamp down is dwindling. Malaysia is among those nations that are currently free from regulatory laws and are not imposing a ban on crypto.


According to the Malaysia Reserve, the country’s finance minister said that the central bank will not impose a blanket ban on cryptocurrencies as such action will only curb innovation and creativity in the financial sector, particularly fintech. In an interview with the news outlet, he stated:

The government is fully aware of the need to strike a balance between public interest and integrity of the financial system.

Public Protection

Similar to action in Thailand, Malaysia wants to inform and protect the public from making rash investments in the nascent crypto markets. The ministry said that the monetary authority is taking a cautious approach with digital currencies, including bitcoin, to ensure safety measures are in place to protect the interest of the public.

The statement went on to say:

It is not the intention of the authorities to ban or put a stop on any innovation that is perceived to be beneficial to the public. However, similar to any financial and investment schemes, there is a need to have proper regulation and supervision to ensure any risk associated with such schemes are effectively contained.

Malaysian Government to Introduce Regulatory Framework for Cryptocurrencies

No Regulation

Currently, Bank Negara Malaysia (BNM) does not regulate cryptocurrencies. However, it will ensure that exchanges comply with requirements to conduct customer due diligence and report suspicious transactions to the authorities. This is a similar stance to that taken in South Korea, where authorities have laid out plans to regulate how exchanges handle their clients to prevent money laundering and criminal activity.

The Malaysian finance ministry went on to state:

Financial innovation will not only enhance productivity of economic activities, but also make financial intermediation more seamless, it is imperative for the authorities to have a thorough understanding on digital currencies before embarking on any policy actions. This is particularly relevant to recent innovation like bitcoin, which remains unregulated globally and not battle-tested against shocks, unlike more conventional mediums of exchange.

With a global market capacity rapidly approaching $700 billion and the majority of crypto trading taking place in Asia, governments and central banks in the region need to get ahead of the game.

Will Asian nations continue to lead the way in the crypto markets? Add your comments below. 


Images courtesy of GoodFreePhotos, Pixabay, and Bitcoinist archives.

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