Microsoft and Goldman Sachs are using AI to pave the way for the next Bitcoin rally
Microsoft joined forces with Goldman Sachs and other tech and finance heavyweights to develop a blockchain "network of networks." The project may contribute to driving crypto adoption and Bitcoin prices.
Bitcoin and Ethereum prices have been staying in the low-mid range for a long time, unable to fire up, but this may change soon. Heavyweight tech and finance companies have joined forces in an effort to develop a global blockchain-based "network of networks" targeting critical shortcomings hindering crypto adoption. A report from Forbes suggests, the initiative may contribute to mainstreaming crypto and kick-starting the next Bitcoin price bull run.
Announced earlier in May, the Canton Network project brings together a group of global players, including BNP Paribas, Capgemini, Deloitte, Goldman Sachs, and Microsoft. The goal is to enable the interoperation of previously siloed financial systems with proper controls required in regulated industries.
"The Canton Network enables financial institutions to experience a safer and reconciliation-free environment where assets, data, and cash can synchronize freely across applications," reads the press release . For example, the technology will be capable of integrating a digital bond and a digital payment across two separate applications into a single atomic transaction for simultaneous and risk-free exchange.
