Azure BaaS partner, Emercoin, feeling the pressure

Microsoft is growing a collection of integrated services on its cloud platform, Azure. Users can already access analytics, computing, database, mobile, networking, storage and web offerings. To extend the platform further, Microsoft partners with a number of technology providers that build ready-made solutions, or help design, build, and manage customized solutions.

The American multinational company has recently been partnering with a variety of blockchain companies. Ripple, Eris, ConSensys, BitPay, Manifold Technology, LibraTax, Coinprism, Factom and Emercoin have all signed up, creating a new niche on Azure, called Blockchain as a Service (BaaS).

Emercoin’s Chief Communications Officer, Jason Cassidy, described the situation to Brave New Coin: “What we are witnessing is the beginning of a filtration process, where all digital currency and blockchain offerings are being analyzed with a fine tooth comb.”

“It is vitally important to stake your claim in the industry right now, for this is the time period where household names are being formed.”
— – Jason Cassidy, Emercoin Chief Communications Officer

Emercoin originally launched in Dec 2013 as a decentralized cryptocurrency. The platform now offers a suite of tools that are secured on a blockchain that combines Proof of Work (PoW) and Proof of Stake (PoS). While PoW requires processing time to validate electronic transactions, an economic measure that deters attacks and service abuses, PoS asks users to prove ownership of a certain amount of currency.

“The Blockchain-as-a-Service (BaaS) platform makes a lot of sense for both parties,” Cassidy explained. “We approached Microsoft late in 2015 regarding coming on-board. Due to our many services that target Microsoft’s core audience, this was a natural fit.”

The Emercoin name comes from the "emergence" of disruptive technologies, and the platforms’ developers have been focusing on enterprise centric services, “in areas that we feel have tremendous potential for growth and disruption,” Cassidy noted. “We have just recently popped up on many people’s radar, a type of ‘Emergence’ in and of itself.”

Emercoin will be delivering its blockchain services through Azure later this year. They include digital proof of ownership and identity, passwordless authentication on the internet, network security, distributed advertising, and E-commerce solutions including a secure micropayment service.

There is a belief on the team that the proper way to approach the market is to under promise and over deliver, Cassidy states: “This mindset Emercoin takes to development is also aligned with our core philosophy, where the focus is not on hype or promotion but on delivering consistent results.”

“The early days of being able to garner success from forking the codebase of a popular currency, slap on a new name, logo and add in one or two minor features is now over.”
— – Cassidy

“We believe our services are going to give Azure customers access to services that may not be available on the Bitcoin blockchain,” Cassidy added. “This may also be the reason why MS has taken the approach of adding targeted blockchain services first before adopting services that run on the Bitcoin blockchain. Because these smaller blockchains that have a more targeted scope, it may also be easier to work with our blockchain from a political perspective as well.”

Out of the 8 or so BaaS partners, Bitpay is the only company focused on Bitcoin. While Libratax accounting solutions can be applied to any blockchain, the remainder of the services have independent chains of some description – Ripple, Eris, ConSensys (Ethereum), Manifold Technology (Manifold Liquidity Platform), Coinprism (OpenChain) and Factom.

With the current range of partners already on the Microsoft Azure platform, Cassidy revealed that there is always an element of pressure. “I believe that same pressure to deliver is being felt with all of our competitors who have not yet proven to the market that they have something the World is going to adopt and use,” he claims. “Without that factor in place, user adoption is going to be restricted to digital currency investors and enthusiasts, which is simply not enough in 2016.”

“Today, major VC firms are exploring the possibilities of blockchain technology and digital currencies with a long-term vision. You are noticing many of the true innovators in the industry receiving major funding. This capital is not invested without careful consideration of where the market is today and where it projects to be many years in the future.”
— – Cassidy

To be relevant going forward a digital currency will have to offer significantly more than an alternative payment option to Bitcoin, Cassidy re-iterates: “The message being sent to the industry is clear: Innovate or be left behind.”

With the future in mind, the Emercoin team has several industries on their radar, medical, robotics, supply chain logistics, banking and the Internet of Things, to name a few. “Said another way, any area of technology that is ripe for disruption and blockchain integration,” said Cassidy.