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Microsoft, BofA tie up for blockchain technology

image019Microsoft and Bank of America Merrill Lynch are working together to make financial transactions more efficient using blockchain technology, which is the foundation of bitcoin digital currency. The two entities announced that they will build and test frameworks for blockchain-powered exchanges between businesses and their customers and banks.  Blockchains are considered tamper-proof registers in which entries are time-stamped and linked to previous ‘blocks’ in a data chain.

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