The five-year memorandum of cooperation was signed by the president of Microsoft in Russia, Kristina Tikhonova and Web3 Technologies CEO (Waves Enterprise platform developer) Alexander Ivanov.
The document prescribes that Waves Enterprise solutions will be implemented in the cloud services of Microsoft Azure Marketplace and Microsoft Azure Stack Hub.
In addition, the companies will create a cloud service to automatically audit smart contracts and analyze network transactions to detect anomalies or attempts to compromise it.
According to Waves Enterprise, the blockchain service market in Russia will grow to about 10 billion rubles ($140 million) in 2020 from 4 billion rubles ($56 million) in 2019.