Hyperledger and Enterprise Ethereum Alliance, which are primarily powered by IBM and Microsoft respectively, in some sense embody the confrontation between private and public blockchains. The two tech giants challenge in building a business-friendly blockchain-as-a-service (BaaS) platform. While IBM's blockchain offers a commercial set of cloud services to help clients create and run both public and private blockchain networks, Microsoft's Azure cloud-computing platform lets its users to use primarily public BaaS modules. As IBM mostly does not interact with public blockchains, its Baas service is based on Hyperledger's Fabric code, to which IBM was the main contributor. Fabric is governed by Hyperledger's steering committee, where IBM holds one of the leading positions. This committee has the right to make changes to Fabric, but only with a consent from the IBM side. On the other side, Microsoft's BaaS, while supporting a number of private blockchain protocols, prefers to work with Ethereum blockchain. Azure was lanched at the Ethereum Event in 2015, and most of its partnerships are with Ethereum-based startups. As mentioned earlier, Ethereum code is maintained by Ethereum Foundation, where Microsoft has no seat, so the Foundation can at any time decide to fork the blockchain without even asking Microsoft, what is a big risk factor for the latter. Therefore, the main difference in IBM's and Microsoft's approaches is in code governance, and the position of Microsoft does not seem to be the winning one at the moment.