Recently, a number of blockchain consortiums have been formed to test the technology, with the most notable including banking consortium R3CEV, the Post-Trade Distributed Ledger Group (PTDL) and Dubais Global Blockchain Council (GBC).
The project will be open to multiple blockchain protocols, providing support to unspent transaction output (UTXO) protocols such as Hyperledger, and account-based protocols like Ethereum, with others added as they are developed.
Project Bletchley is a response to working with the existing members of Microsoft’s Blockchain-as-a-Service platform on Azure.
Project Bletchley is built by Microsoft as an open, modular blockchain fabric that interacts with identity and key management, has the ability to rapidly scale, and to help construct members-only, permissioned consortium blockchains, perceived as ideal by early adopters across industries.
Project Bletchley introduces two new concepts: blockchain middleware and cryptlets.
The blockchain middleware is designed to help users take advantage of the increased security of blockchain and its immutable record of transactions, while at the same time delivering business intelligence in the form of reports required by regulators and others.
Cryptlets, on the other hand, only come into play when blockchain users need additional transaction information such as date and time in order to execute a contract.
More information about Project Bletchley will be disclosed at Microsofts World Wide Partner Conference from 12th to 16th July in Toronto, Canada, according to coindesk.com.
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