Microsoft is developing software to bring blockchain technology to enterprises, called the Coco Framework, Reuters reported.
Coco, short for Confidential Consortium, interfaces with different blockchains in an attempt to solve problems which the report said inhibited their adoption – specifically speed and privacy concerns.
Currently, Coco is compatible with Ethereum, and Microsoft said its framework can make it about 100-times faster.
Its system can process around 1,600 transactions per second, and Microsoft said it would make it easier for companies to control permissions on a network without making the system slower.
Microsoft said Coco will be ready by 2018, when it will be released as open source software.