Microsoft Fears More Cryptocurrency Regulations & Calls for Blockchain Adoption

Microsoft Fears More Cryptocurrency Regulations & Calls for Blockchain Adoption

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Microsoft fears an increase in cryptocurrency regulation for the sector following the privacy issues that have engulfed Facebook but said that tools like blockchain can help take care of concerns. 

“All the signals say that there will probably be more regulation in the industry and our job is to comply with the regulations,” its executive vice president for business development Peggy Johnson told PTI here in an interview.

Ahe said that  US-based corporation has always been "principalled" about privacy, and affirmed its commitment to keep the individuals' data secure. 

“Our belief is that our customer’s data is their data. it is our job to help keep it secure for them.”

She mentioned General Data Protection Regulation (GDPR) regime, which tech companies have to adhere to as an example of such regulations. 

Johnson believes only technology can help overcome the present set of worries which allegedly owe its genesis to misuse of the technology itself.

“Technology can actually help the problem that is surfacing now. Things like blockchain can be a part of the solution here, because it is transparent, it is secure… It can actually be a part of the solution to some of these concerns that are being raised by the regulators.”

According to Johnson, the Microsoft company has been working on cybersecurity and has helped as many as 125 Indian companies with protecting their data since launching the offering in mid-2016 through a dedicated centre that works closely with academia as well. 

Moreover, Uber did the right thing by stalling the autonomous car experiments related to the recent car crash in the USA with a driverless car which killed one pedestrian. 

“I think AI (artificial intelligence) can help that situation. I think if you can gather data and run simulations, rather than actual cars (on the road),” she said.

"Stopping the testing was right thing to do till they (Uber) analyse what went wrong there. I just think going forward, any company that is testing autonomous vehicles may find that AI simulations can be a tool for them to test some of the cases," she added. 

Johnson said the company wants to "democratise AI" tools and is already working on the healthcare and the agriculture sector in the country.

What do you think of the Johnson interview? Share your thoughts in the comments section below.

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