(Bloomberg) -- Microsoft Inc. has pulled ahead of Alphabet Inc.’s Google, International Business Machines Corp., and Amazon.com Inc. in the race for supremacy in operating other companies’ blockchains.

Microsoft and R3, a consortium of 43 financial institutions, have formed a strategic partnership to accelerate the use of the blockchain technologies. Microsoft Chief Executive Officer Satya Nadella announced the deal at the company’s Envision conference Monday.

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