(Bloomberg) -- Microsoft Corp. and other major technology companies and banks are forming an alliance to advance the adoption of Ethereum blockchain database technology in corporations, potentially offering better security for recording transactions, according to two people familiar with the plans.

The companies have been working on the Enterprise Ethereum Alliance for months, according to one of the people, and intend to launch the effort later in February, said another, who asked not to be identified because the plans haven’t been announced. Microsoft is one of the companies involved, one person said.

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