Press Release: Coadjute introduces Microsoft Azure Confidential Ledger

London October 2024: Coadjute, the leading UK property technology company, has strengthened its partnership with Microsoft by adopting Azure Confidential Ledger (ACL) for its distributed ledger technology. This move transitions Coadjute from a model where each participant was required to run their own infrastructure to a Software as a Service (SaaS) model utilizing Microsoft's advanced cloud services.

Coadjute is on a mission to transform the UK property market, where transactions currently take nearly six months on average to complete. The Coadjute platform enables estate agents, conveyancers, lenders, and both buyers and sellers to share key data in a secure and standardized way, accelerating property transactions and providing a better experience for all parties involved.

By moving to Microsoft Azure Confidential Ledger, Coadjute now delivers the same business outcomes as its previous generation of distributed infrastructure but with the scalability, reliability, and efficiency of a cloud service. Azure Confidential Ledger provides cryptographic proofs of data immutability and integrity within a distributed infrastructure, ensuring that all data shared on the platform is secure, tamper-proof, and trustworthy.

This shift allows Coadjute to eliminate the need for each party in the network to maintain their own infrastructure. Instead, users can now leverage the platform's distributed ledger capabilities as a cloud service provided by Microsoft, simplifying deployment and reducing costs. The result is a seamless, secure, and efficient system that enhances trust and transparency in property transactions.

Amol Pednekar, Chief Engineer at Coadjute, said:

"We have used Microsoft Azure in our technology stack for several years, benefiting from its sophisticated functionality, cost-effectiveness, and reliability. Extending our relationship with Microsoft by adopting Azure Confidential Ledger was a natural progression. It allows us to provide the same level of data security and integrity as before but now through Microsoft's leading-edge cloud infrastructure. This means we can offer our distributed ledger technology as a SaaS solution, simplifying the process for our users and supporting our growth as a company."

The move to Azure Confidential Ledger replaces the previous distributed ledger technology provided by R3 Corda. By leveraging Microsoft's cloud services, Coadjute continues to provide an immutable and unchangeable record of key data movements on its network, enabling verified users to be confident that data has not been tampered with.

This development follows the announcement earlier this year that the three largest mortgage lenders in the UK—Lloyds Banking Group, Nationwide, and NatWest—along with the largest property portal, Rightmove, have made a strategic investment in Coadjute. The partnership builds on Coadjute’s previous collaborations with the Bank of England, HM Land Registry, and the Bank for International Settlements.