Big tech and Wall Street are joining forces to legitimize cryptocurrency. Microsoft and Goldman Sachs have announced a partnership to develop blockchain technology that could help mainstream Bitcoin and Ethereum.
The Canton Network is a new blockchain platform that is designed to address some of the key challenges facing the cryptocurrency industry. It will be built on Microsoft’s Azure cloud platform and will use artificial intelligence to improve the user experience.
The Canton Network is backed by a consortium of major financial institutions, including Goldman Sachs, Deutsche Börse, and S&P Global. The network is expected to launch in July 2023.
The partnership between Microsoft and Goldman Sachs is a major sign of confidence in the cryptocurrency industry. It is also a sign that the traditional financial world is starting to take cryptocurrencies seriously.
The Canton Network could help to make Bitcoin and Ethereum more accessible to mainstream investors. It could also help to reduce the volatility of the cryptocurrency market.
The partnership between Microsoft and Goldman Sachs is a major development in the cryptocurrency industry. It is a sign that the traditional financial world is starting to take cryptocurrencies seriously. The Canton Network could help to make Bitcoin and Ethereum more accessible to mainstream investors and reduce the volatility of the cryptocurrency market.
In addition to the Canton Network, there are a number of other initiatives underway that could help to mainstream Bitcoin and Ethereum. For example, Fidelity has launched a crypto trading platform for its 37 million users, and BlackRock is reportedly considering launching a crypto ETF.
