Amazon introduces two new blockchain products

Tessa DempsterTessa DempsterNovember 30, 2018
Blockchain products introduced by amazon


Amazon Web Services (AWS) announced two new blockchain products to help businesses manage accounting at the re:Invest conference in Las Vegas this week.

The products are a cryptocurrency wallet and a platform that allows customers to setup a blockchain network across multiple AWS accounts.

AWS blockchain head Rahul Pathak said there was a high demand from customers that wanted a centrally-owned system that recorded all transactions and the current systems weren’t delivering.

“Building a scalable blockchain network with existing technologies is just too hard today, and that’s why customers pay expensive consultants to help them,” said Pathak.

The company’s new blockchain platform seeks to eliminate the labour involved in setting up a network, adding and removing members, and scaling to meet application demands.

“Customers can use either Ethereum or Hyperledger Fabric, the two most popular blockchain frameworks, and get a functioning blockchain network set up with just a few clicks,” said Pathak.

The company also revealed its Quantum Ledger Database (QLDB) which allows customers to replicate a copy of their blockchain network activity.

Amazon already uses Ethereum on its cloud services, and has a partnership with startup SaaS platform Kaleido to make it easier for customers to put their services on blockchain.

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