Amazon hops on board the blockchain wagon

Blockchain technology is not a new thing, but when corporations announce their usage of the technology, the Internet goes wild.

Retail giant Amazon made an announcement last month during their ReInvent conference that they were going to join the blockchain trend by starting two blockchain-oriented ledgers.

The announcement was made by Amazon Web Services (AWS) CEO Andrew Jazzy regarding their newest endeavors under the blockchain — Quantum Ledger Database (QLD) and Amazon Managed Blockchain (AMB). Jazzy admitted that their clients wanted something beyond a simple database utilizing blockchain technology.

Amazon is creating a system that doesn’t just build, but also analyze and eradicate key problems end-users face under the blockchain, in which they hope their newest ventures can respond well to this need.

AMB is described via their website as a platform whose intent is to bring forth a fully-managed blockchain service which allows user to develop a scalable blockchain network, a crucial building block other services claim to be missing. AMB has stated they will integrate blockchain technology related to the Ethereum network in the future.

Hyperledger Fabric serves as the backbone of AMB, allowing for the system to scale up or down based on end-user needs and demands, enabling a greater degree of network freedom and flexibility.

QLD will operate as an extension rather than operating on a pure blockchain system, which will provide users with a transparent, immutable and cryptographically-locked transaction record of all transactions made through AMB

QLD processes are supervised by a central authority, or private blockchain and may become more flexible as the system scales to a higher extent.

Interested parties can register now for the services, but have limited access to the full suite under its preview period.

Natalie Stevens is a writer and a blogger. Recently, she became fond of writing articles that are bitcoin or cryptocurrency-targeted. Natalie aims to provide valuable content to her readers through extensive research and reading blogs from websites like Blue Chip Vision. When not working, she spends some quality time with her family and friends.

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