Amazon Prepares to Compete in the Blockchain and Crypto Space


Amazon is under taking steps to further integrate blockchain technology into its suite of offerings. As a subsidiary of Amazon, Amazon Web Services (AWS) has just released two blockchain related services, Amazon Managed Blockchain (AMB) and Quantum Ledger Database (QLDB).

Blockchain

According to the information provided on the AMB website,

 “This is a fully managed service that allows you to set up and manage a scalable blockchain network.”

This service shall also manage customers certificates, allowing them to invite new members to the network, and tracks operational metrics such as usage of compare, memory and storage resources. Currently, AMB is using the framework Hyperledger Fabric and will soon become compatible with Ethereum.

Quantum Ledger Database is a component of AMB that tracks the history of changes to the blockchain. This service is a complete managed ledger database. It provide a transparent, immutable and cryptographically verifiable transaction log. The QLDB platform service develops centralized blockchain for enterprises.

CEO of AWS, Andy Jassy, highlights ALDB’s main strength in the blockchain area.

“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.”

AWS has already manage to become a major play in the cryptocurrency space. It offers critical infrastructure by hosting major crypto exchanges and financial services on its cloud services, such as Coinbase and Robinhood.

As time goes by AWS continues to steadily developing a suite of services that allow blockchain enterprises, which would include cryptocurrency financial services, to lay down their infrastructure and custodial solutions for a number of users.

Our Thoughts

Given the immense size the company has grown to become over the years and it’s expansive resources, Amazon and blockchain tech will become a formidable combination.  More blockchain development have been rumored to be on the way as Amazon has recently purchased various domain names related to cryptocurrency and has won crypto-related patents.

You check out these newly released services at Amazon Managed Blockchain and Quantum Ledger Database.

Let us know your thoughts.


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Keith Wang

Keith Wang is a writer and programmer specializing in bitcoin and blockchain technology. Keith has been a long time believer of bitcoin and blockchain technology and spends his free time following up with blockchain news.

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