Amazon captures the Blockchain Market with Two New Products

Amazon’s Cloud business arm Amazon Web Services (AWS) is ready to supercharge the blockchain revolution with their latest product releases. At AWS reInvent 2018 in Las Vegas on Wednesday, the company had unveiled its own fully fledged services Quantum Ledger Database(QLDB) and Amazon Managed Blockchain to help companies manage business transactions that require full auditability.

Speaking at the conference, Rahul Pathak, General Manager of Amazon Blockchain said:

“Many of our customers want to build applications where multiple parties can execute transactions without a central, trusted authority, and they also need to create a blockchain network. Building a scalable blockchain network with existing technologies is just too hard today, and that’s why customers pay expensive consultants to help them.”

Here is a brief description of the products:

Amazon QLDB (Quantum Ledger Database):

Amazon QLDB is a transparent and cryptographically-verifiable ledger for applications that need a central, trusted authority to provide a permanent and complete record of transactions, like supply chain, financial, manufacturing, insurance, and HR.

“It will be really scalable, you’ll have a much more flexible and robust set of APIs for you to make any kind of changes or adjustments to the ledger database,” said Andy Jassy, AWS CEO, in describing the new QLDB service.

AWS Managed Blockchain:

Amazon Managed Blockchain service is affordable for customers to create and manage secure blockchain networks that can scale to support thousands of applications running millions of transactions. It also manages your certificates, allows easy invitation of new members to join the network and tracks operational metrics such as usage of computer, memory and storage resources.

It supports the world’s popular blockchain frameworks such as Ethereum and Hyperledger Fabric.

“Amazon Managed Blockchain is a fully managed service that allows you to set up and manage a scalable blockchain network with just a few clicks,” Amazon said in an announcement.

Today ~42% of the web is powered by AWS and there is no doubt that Amazon plays a crucial role in a B2B market with respective to blockchain implementation at scale.

Link to the above news was found on Techcrunch.com:

AWS launches a managed blockchain service

Amazon gets into the blockchain with Quantum Ledger Database & Managed Blockchain

 


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