Blockchain Bust: Microsoft Joins IBM with Blockchain Shutdown
A few years ago, Blockchain was going to change the world with its distributed database and ledger technology. At the time, cryptocurrencies were taking off and every cloud giant found themselves chasing the technology and trying to shove it into every conversation as well.
But the reality is that Blockchain is not a good database for the commercial markets and unless you are launching a new cryptocurrency, the use of the technology is minimal, at best. I am positive there are useful applications of the technology but Microsoft is bowing out and shutting down the Azure Blockchain Service.
Announced on the Azure Blockchain Service documentation page and first spotted by Mary Jo, the shutdown will occur on September 10th of this year. If you are using this service, Microsoft says that you will need to migrate your ledger data to an alternative service.
Microsoft is not the only company that has given up on commercializing blockchain. IBM, according to a report from CoinDeks, gave up on Blockchain earlier this year. IBM promoted its technology heavily with advertisements that boasted the ability to track individual coffee beans from plant to home – the problem is that a conventional database can also do this and can process them more efficiently.
I can’t fault either IBM or Microsoft diving head-first into Blockchain as the buzzword was everywhere and they did not want to be left out in the cold if the market truly did takeoff. But this road ends with the technology not being applicable for the commercial markets with both IBM and Microsoft shutting down their services.
More in Active Directory
Apple's M2 Ultra Mac Pro Completes the Mac Transition to Apple Silicon
Jun 6, 2023 | Laurent Giret
Microsoft Releases Cross-Tenant Synchronization for Seamless Azure AD B2B Collaboration
May 31, 2023 | Rabia Noureen
Nvidia Announces New Hardware and Services for Enterprise AI at Computex
May 30, 2023 | Laurent Giret
Microsoft Lets IT Admins Remove Internet Explorer References From Windows 10
May 19, 2023 | Rabia Noureen
Managing Group Policy Objects: Create GPOs, Link GPOs, and Edit GPOs
Apr 28, 2023 | Michael Reinders
What is Group Policy?
Apr 27, 2023 | Michael Reinders
Most popular on petri