Microsoft launches cloud-based blockchain platform with Brooklyn start-up

By Jemima Kelly LONDON (Reuters) - Microsoft launched a cloud-based blockchain platform on Tuesday with Brooklyn-based start-up ConsensYs, which will allow financial institutions to experiment cheaply and easily with the technology underpinning bitcoin. The financial industry is increasingly investing in the technology, betting it will reduce costs and increase efficiency. Blockchain technology is not limited to bitcoin -- it can be used to secure and validate the exchange of any data.