Tuesday, 11 December, 2018

Amazon has just made its biggest push into blockchain yet

Amazon-Web-Services-AWS Amazon has just made its biggest push into blockchain yet
Jean Garcia | 16 May, 2018, 17:10

While Amazon has not yet made any movements that hint toward an Amazon-only blockchain solution, the massive presence of the company within sectors that are now being heavily disrupted by the blockchain - such as supply chain - make it highly likely that the tech juggernaut will adopt blockchain technology wholesale in the future.

"If blockchain doesn't become dramatically easier to use, then companies will have to walk back their investments and our society will be far too slow in realizing blockchain's significant promise". The technology is also touted as being faster and more secure than traditional databases. This is the biggest move by AWS owner Amazon to get into blockchain, said Ethereum co-founder Joseph Lubin, in a report by news portal CNBC.

Now, however, e-commerce giant Amazon's arm has tied up with Kaleido, which was born out of Lubin's incubator ConsenSys, for a blockchain partnership.

More recently, AWS announced a new service this past April to provide out-of-the-box blockchain networks based on the Ethereum network and Hyperledger Fabric protocol.

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"We knew we needed to design a platform from the business problems down, since that is where the enduring problems are that companies face in the blockchain space". These private networks offer all the benefits of the underlying blockchain technology, while maintaining the necessary levels of security and performance.

The partnership will be based on the Ethereum blockchain platform and, alongside AWS, Keleido say this "is a heavy duty, full stack way of getting the company into blockchain solutions".

Plus, the platform offers a "state relay" between a private chain (like a chain setup by a group of enterprises) and a public blockchain. The anchoring will happen automatically at regular checkpoints, so that enterprises get better proof of confirmation over all the transactions. These connections help reduce the cost of real-world projects that otherwise would require expensive integrations. He said it can also help connecting enterprises' private blockchains to the ethereum network.

Kaleido would enable its users to deal with those issues, Michael Dickson, the enterprise blockchain business development lead at ConsenSys, told CoinDesk. "We look forward to continuing our work with Verizon as their preferred public cloud provider, helping them to continually transform their business and innovate on behalf of their customers. What Salesforce did for CRMs, Kaleido will do for blockchain".

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