Microsoft Taiwan has teamed up with China Binary Sale Technology and High Cloud to develop an enterprise blockchain development platform, CoinTelegraph reported.

According to a press release dated June 28, the tripartite blockchain strategy cooperation is aimed at transforming industries such as finance, e-commerce, and entertainment, with a particular focus on the Asia-Pacific region. Microsoft will provide its Azure cloud platform to the project.

Microsoft Taiwan’s general manager Sun Jikang believes that Azure can enhance the security and operation speed of the new platform and would become a key blockchain cloud technology platform for China Binary to create commercial solutions. He also emphasized on the favorable conditions in Taiwan for such initiatives, stating:

“Taiwan has first-class engineering and technical talents, and their innovative thinking cannot be underestimated. At the same time, it carries a solid manufacturing and R&D foundation, plus excellent geographical location, with the superior conditions for the development of blockchain application…"

China Binary’s founder Sun Jiangtao underscored the key role of blockchain technology in fintech, business, science and other industries. He also highlighted the importance of integrating blockchain applications with other emerging technologies such as Internet of Things (IoT), biometrics, and artificial intelligence (AI).