Amazon is Migrating To Blockchain With New Partnership

Blockchain study 30 percent Finance leader commit resources

The cloud computing arm of Amazon in a bid to make it much easier for clients to use Blockchain technology announced a new partnership this Tuesday. The cloud computing giant is teaming up with Kaleido a new startup born out of Blockchain-powered incubator Consensys. The company’s goal is to give AWS consumers an “easy button” to use the technology that underpins bitcoin.

Easy to Use Blockchain Integrated Platform

According to one of the founders of Kaleido, Steve Cerveny:

“We will give them an easy to use platform to further build their firm on Blockchain.”

Blockchain technology stores transactions or financial records on a public shared ledger, which advocates believe removes the need for third parties in most cases. The technology is said to be faster and more secure according to its proponents.

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In a statement, Amazon Web Services said:

“The introduction of Kaleido to AWS clients will help them move fast and forget about managing the Blockchain themselves. This will be the first Blockchain powered solution on the AWS market and is designed to help customers rapidly advance projects on Blockchain.”

The founder of Ethereum, which is the network Kaleido and AWS use, Joseph Lubin, said this will be the most significant move by the tech giant relating to Blockchain technology. Lubin believes that Blockchain will help other arms of Amazon expand using the supply chain as an example. He says Consensys which handles over 50 Blockchain projects saw a significant expansion with growing interest in the technology.

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Amazon joins a host of tech giants including Facebook and Microsoft to explore use cases for Blockchain. Last week Facebook announced that it is initiating a reorganization that is going to include a new Blockchain to address privacy concerns relating to the platform. The group to start this move will be led by Facebook most recent executive in charge of Facebook’s Messenger group, David Marcus. IBM, HSBC, Accenture, Deloitte, and JP Morgan, are other corporate names using the Blockchain initiative.

 

 

 

 

 

 

 

 

 

 

 

 

 

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