Cloud & Technology

Amazon Web Services Launches New Blockchain Service

Amazon Web Services announced the launch of their new AWS Blockchain Templates after previously stating that they weren’t looking into the technology any time soon. 

The new product provides users pre-set blockchain frameworks that support two versions of the technology: Ethereum and Hyperledger Fabric network.

The new offering has been aimed to suit small businesses that have restricted access to resources and will compete against some of the biggest players in blockchain-as-a-service (BaaS), such as IBM and Oracle. Blockchain technology allows companies to record transactions without a central trusted authority, therefore creating a much more secure space for transactions to be made as every member holds access to the information and are able to retract their data at any time and verifiable. Therefore you can see the attraction it gets from firms that have to hold a large amount of sensitive information such as banks and accountants. 

AWS Vice President and Chief Evangelist, Jeff Bar spoke in a blog post regarding the new launch into blockchain, saying “Some of the people I talk to see blockchains as the foundation of a new monetary system and a way to facilitate international payments. Others see blockchains as a distributed ledger and immutable data source that can be applied to logistics, supply chain, land registration, crowdfunding and other use cases” further adding that it is ”clear that there are a lot of intriguing possibilities and we are working to help our customers use this technology more effectively.”

Amazon also added that the new app service will hopefully make blockchain a more accessible solution for all types and sizes of company’s and that creating blockchain solutions only takes a few clicks. The application will certainly make it much easier for privacy-based companies to create their own peer-to-peer applications. 

It seems as though with the competition rising within blockchain-as-a-service between the dominant global companies, the technology is increasingly becoming the preferred choice to ensure the security of transactions. Most recently, as well as Amazon announcing their launch, another major competitor has also recently announced their entrance into the BaaS Market; Huawei. The competition between these leading companies makes it exciting to see where the future will lead this evolutionary technology and how it will facilitate companies of all shapes and sizes in the future.

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