Amazon Launches Blockchain Building Services

Nov 29, 2018 at 21:32

Amazon, one of the biggest companies in the world today, has announced that it will launch a service that will help its clients to easily develop their own blockchain networks.

The company revealed the news during its re:Invent conference, claiming that the goal is to help their partners to utilize the technology without incurring the costs of creating their own platform.

The firm specified that the service called Amazon Managed Blockchain, will allow users to build platforms using the Hyperledger Fabric. An additional support service to build a network using Ethereum is also in the works.

“Amazon Managed Blockchain eliminates the overhead required to create the network and automatically scales to meet the demands of thousands of applications running millions of transactions,” the company’s website further stated.

Notably, the service will be part of Amazon Web Services, the tech giant’s cloud computing subsidiary which already boasts a number of clients including leading video streaming service provider, Netflix.

The service is already in preview stage allowing interested companies to sign up for Amazon’s approval.

“Managed Blockchain can replicate an immutable copy of your blockchain network activity into Amazon Quantum Ledger Database (QLDB), a fully managed ledger database. This allows you to easily analyze the network activity outside the network and gain insights into trends,” the company further explained.

The QLDB can then serve as a complete record of history of data changes.

Earlier this month, the e-commerce giant also secured the approval of the U.S. Patent and Trademark Office for two patents related to blockchain tech.