Microsoft and WavesEnterprise create enterprise blockchain in Russia

According to Sputnik, Microsoft Corporation and hybrid blockchain platform Waves Enterprise will build blockchains in Russia and launch cloud services for business analysis and intelligent contract monitoring. Russian President of Microsoft, Kristina Tikhonova, and CEO of Waves Enterprise Platform, Web3 Technologies, Alexander Ivanov, have signed a five-year partnership memorandum of understanding. The Waves commercial solution is implemented in the cloud services of Microsoft Azure Marketplace and Microsoft Azure Stack Hub. The company will also develop cloud services that recognize smart contracts and monitor network transactions to identify malicious breaches or attempted smart contract breaches. According to Waves Enterprise, the Russian blockchain services industry will grow from 4 billion rubles ($ 56 million) in 2019 to 10 billion rubles ($ 140 million) by 2020.