Amazon launches blockchain service

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Amazon has everything covered. It started out selling books and it plans to sell blockchain services. So, not only will you be able to buy a book, a garden shed or a laptop, you’ll be able to purchase a blockchain platform for your business.

Amazon announced the move at its re:Invent conference saying, “Amazon Managed Blockchain platform is a fully managed service that makes it easy to create and manage scalable blockchain networks.” Users will be able to choose from either the Hyperledger Fabric platform or ethereum, although the ethereum one isn’t available yet. Perhaps, as with pre-publication notices from Amazon for new books, customers will be able to reserve the ethereum platform in advance; maybe there will even be a Prime service for delivery!

The new venture is part of Amazon Web Services, the company’s cloud computing subsidiary, which powers a large number of websites and services, including platforms like Netflix. According to the Amazon Managed Blockchain (AMB) website, “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. ”

And it adds that AMB can store data on another database product, which it explains as follows: “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.” QDLB is not a blockchain platform in itself, but it can be used in conjunction with Amazon’s blockchain platform to “maintain a complete and verifiable history of data changes,” Amazon says.

The service is currently in preview mode but you can sign up for it and start creating your own blockchain network once it is approved.

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A blockchain platform that will take banking to another level https://www.lendo.sg

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