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How zero-knowledge systems will power Web3 – Microsoft Exec

Published

2 years ago

October 4, 2022

Microsoft has been in the Web3 space since 2017, Yorke E. Rhodes, Co-founder of Blockchain@Microsoft said at SmartCon. Yorke pointed out that Microsoft in 2016 allowed 9 million developers access Ethereum on Windows; co-founded the Enterprise Ethereum alliance in 2017; helped to create the Decentralized Identity Foundation in 2017.

Apart from the above, he highlighted Microsoft’s work with the world Bank in launching one of the first digitized bonds on blockchain in 2018; investment in Palm NFT Studio; investment in ConsenSys, Quorom blockchain, Space and Time Investment; and researches carried out to make EVM 6x faster.

While our customers are keen on using DeFi services but are also concerned about security and privacy, he noted.

So much noise in Web3

Yorke added during his presentation that Web3 is a good innovation but it appears that there’s so much noise in the space.

According to the Director of Digital Transformation at Microsoft, these noises span from microeconomics to speculations as well as decisions on regulations where the government wants to exercise power.

“We want to ensure that technology and developers are not the targets. It’s usage and bad behaviour that should be the target.”

Yorke E. Rhodes

At Microsoft, we want to reinvent the supply chain with Web3 tools and also create an enabling environment for developers, Yorke said. “If you target technology,” Yorke added, “then you’re targeting the innovation that’s happening in technology”.

On his personal interest over time, Yorke revealed that he has been working on: