Azure Blockchain Tokens Part 1: Getting Started

Azure Blockchain Tokens Part 1: Getting Started

hi everyone welcome to another episode
of block talk today we have a special guest with us Nayana and she’ll be
talking to us about Azure Blockchain Tokens which is a new service hi
everyone thanks Nayan for joining us so one thing
I want to ask very core important question what exactly is Azure
Blockchain Tokens good question it’s a great question
Brenda so Azure Blockchain Tokens is a new PaaS service that we’re releasing
into preview this service actually allows you to create business based
tokens or business tokens or business define tokens really easily manage these
tokens across a different across different blockchains so it is you can
transact on these tokens a transfer a burn or mint these tokens are securely
across multiple counterparties regardless of your ledger choice and and
you this service allows you to create these tokens in no time
wow that sounds like it does a lot of things so what exactly makes it so neat
haha you know we do think the service is pretty neat so simplistically I think
speaking the service is about providing three big advantages to the customers
especially in the blockchain space it solves three big pain points for the
customers the first one is that it can help accelerate time to value for
customers because it provides a pre-built set of templates for customers
and a lot of customers often get lost because blockchain is new they have to
set up you know this do you figure out additional IT environments that can
support these blockchains etc and create our token with intermix with the
business logic that makes it needlessly complex and it was an easy approach we
make it easy to and simple to get started the second the second problem
that I think this service in particular solves is it
allows the customers who now not focus on having another way of doing things
but it allows our open and extensible framework in SDK allows them to
integrate their back-end business applications and processes really
quickly and samely in seamlessly into our into the net
tokens are allows the tokens and other in other words with our SDK approach
open SDK approach to integrate into the business logic and the business
processes these customers have now as your environment actually because these
customers are pretty used to the azure environment and developing with it and
the nice thing about this is that you can just use our environment as you may
have seen from the block talk on tokens with Marley Microsoft is actually driving
thought leadership in the industry by participating that in the token taxonomy
initiative and and this initiative is focused on creating business defined
tokens that can be then adopted across the industry specifically working on
blockchain and this simplification can drive towards the democratization of
tokens godred that is a lot of information so if you’re able to break
it down a little bit more what exactly does after watching tokens do sure so I
think at a macro level there are a few key concepts that a macro level there
are a few key concepts that I think Azure Blockchain Tokens is focused on
first is what we talked about from a customer advantage perspective is
driving the ease of use and simplicity it helps build out a standard ledger
base tokens very easily it is going to allow these tokens to be created that
can represent all these assets whether they’re physical or digital through a
set of pre-built templates and these pre-built templates are essentially all
you do is you kind of personalize them fits information with a click of a
button you can get started so the time from creating the service and
the deployment of a token can be just a couple of minutes the other of the other
advantage for this particular service is that it’s enterprise ready or it’s
Enterprise ready with secure management one of the core are tens of ABT as we
like to call it as your blockchain tokens is to allow for enterprise-grade
security or scale and management of these tokens as well because they are
built on a TTFN token – token taxonomy framework that’s compliant that it
because he’s tokens at ETF compliant and describe the tokens at a business level
this service also manages to provide interoperability across the Ledger’s
which is a key for blockchain based applications and scenarios to get true
momentum as well as for a lot of the industry considerations to succeed a
quick plug for those of you who want to learn more about TTF make sure that you
see our first block talk episode as well with Marley the other other key tenant
or key concept that I think that we would like our audience to know is that
it is based on open and flexible frameworks as we talked about there is
using a dev environment that the the customers and partners already
understand and we do this not only for a prebuilt template as we were talking
about but also the flexibility of leveraging the concept of break of
building your own token templates so those are some of the key concepts if
you will that this particular services built on and we believe that together
these tokens kind of that are defined by Azure Blockchain Tokens are more powerful
than ever because they are super easy to create to manage they are they helps we
can scale across multiple industries and they’re also
interoperable yeah that sounds really incredible so do I get all of this at
public preview what exactly am I able to get to get started that’s a great
question the devil is in the details so I think but I let me walk you through
what or what will be available in the first version the first version we’re
trying to keep it a little deliberately a little bit lean because we want to get
customer feedback early and give them a chance to influence a product roadmap as
well that we have a very we want to innovate on this very fast
the TTF is also releasing a number of I believe they’re releasing their
framework or templates more openly as well shortly so the first thing that I
want to say is that we are going to release is a first capability that the
service will have will be a set of four pre-built templates these templates of
course will be TTF compliant and so maybe about 60 to 70 percent of the use
cases that the customers are looking to build out so you know just with
personalizing this information providing additional metadata etc and just with a
click of a button if you so wish you could deploy these templates yeah and
the only thing to note though I will say is that even though we are going to be
adding a lot more ledger’s but we’re starting with Ethereum and Quorum
based ledger’s and over a period of time you’re going to add new ledger’s to Azure Blockchain Tokens the other thing to you and will also by the way provide
interoperability across any token zeal that we build out over all the ledgers
that we support the third aspect is essentially if you if you think that
your scenarios are very complex and you think that your scenarios require
custom-built templates then we do allow for that as well so we will allow the
customers to build and choose their own their own templates as well from a set
of behavior that we will be exposing to them it is
to learn the details of this what we’ve done is to make this more digestible we
have a number of other block talks scheduled as well and we will break down
and talk about each one of these errors very in detail and last but not the
least we will provide an SDK SDK that customers are used to from Azure and we
will make sure that these these are available to customers in different
languages like node.js Java C sharp C + + etc Python and they’ll be able to use
these simple api’s and rest api is essentially to integrate their integrate
and manage these tokens that we are providing no case that sounds really
powerful so another question I did have for you is it sounds like you know
there’s a lot of watching specific type knowledge that you have to have you know
how exactly does this translate across different types of business people or
different types of developers how do you know what use case is that I can
leverage as your blockchain tokens for oh that actually that’s a that’s a great
question we at Microsoft especially those of us in the blockchain space feel
really strongly that the concept of tokens itself is really powerful across
pretty much all the Ledger’s at the core of most scenarios is at the core of most
scenarios and industries is the fundamental fundamental unit of all
those are transactions are essentially tokens so as an example if you look at
the industry scenarios in this particular slide that we’re showing here
you will see a lot of obvious use cases that you probably knew what open based
but in addition to that I think and a lot of consumers obviously understand
cryptocurrencies a lot of that is based off of tokens and a lot of the stable
coin settlement coins you cash exchange platforms if you look at the core of it
all those are token token I scenarios as well another vertical that is
that is a lot of scenarios that our token dependent our supply chain and
trade finance so for an for example in addition to some of the audits and
attestation scenarios that kind of span all these verticals digitizing of
documents and therefore tokenizing them is a big effort a specific use case
would be Bill of Lading that’s being digitized and tokenized in trade finance
in supply chain when we talk about efficiency and transparency all of that
is being done through tokenizing the inventory
scenario that most customers and partners can kind of understand fair and
grasp fairly quickly is as the loyalty point scenarios as you know with the
consolidation that’s happening in the retail and the hospitality industry
there is a lot of effort that’s being done in in unifying some of these
loyalty platforms and the most obvious choice there because there are so many
different entities that are kind of collaborating and Trust is an issue is
essentially blockchain and in particular tokenizing the loyalty point so that
they can be traded or exchanged across different platforms that actually did
not make it fear but I also want to mention if you if you’ll give me just a
minute our gaming scenarios and a gaming it’s actually seeing a lot of movement
with tokens is well you know a professor of professional gamers there are a lot
of consumers that play games there are teenagers and you know what you do is
you buy accessories you buy all these characters and most of the time those
are only used in their own games but there is a lot of ask in demand from the
consumers to actually allow trading across different gaming platforms as
well and guess what what are the ways that’s being done and looked at is
essentially through tokenizing these accessories and these characters as well
so as you can see you know tokenizing is fundamentally the the fundamental unit
of transaction in writing cases yeah wow that’s
really neat and honestly after hearing you share of all of this it’s no wonder
that Microsoft as a big platform provider wants to kind of take the
charge to accelerate the customer time to value and really democratize the use
of tokens across all these different industries absolutely yeah I thank you
so much for sharing um any kind of like last words that you want to share before
before we sign off for the day I guess first thank you so much for a watching
part one offer a shove a block talk on our news service as your blockchain
tokens don’t forget to check out our service page at HTTPS aka dot ma slash
as your BT thank you so much for joining us and for sharing all all about magical
train tokens thanks everyone for joining us on this new episode of block talk
stay tuned for parts 2 and part 3 and many more parts to come explaining kind
of the different concepts of Azure Blockchain Tokens we’ll be able to share
some examples and dive a little deeper into some of the different concepts we
talked about today so thank everyone so much and we’ll see you next time thank
you thank you so much everyone thanks you

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