Amazon Managed Blockchain Services Launched By Amazon Web Services

Recent reports say that AWS (Amazon Web Services) has officially announced the launch of their Amazon Managed Blockchain (AMB) services to its users on the 30th of April. AWS is a subsidiary of Amazon which deals with cloud computing services. The announcement noted that the product would enable the setting up of Blockchain networks in their places of work purportedly. It will also be operating through the open sources frameworks by Ethereum and Hyperledger. According to Amazon, the product can be scaled to facilitate transactions in the thousands to millions.

The company has also stated that the BaaS (blockchain-as-a-service) will also enable the fast and affordable development of businesses’ networks. The BaaS will even be discounting the need for providing hardware, software installation, the creation and management of access control certificates as well as the need for configuring network settings.

Rahul Pathak, the General Manager of the Amazon Managed Blockchain, said

“Amazon Managed Blockchain takes care of provisioning nodes, setting up the network, managing certificates and security, and scaling the network.”

Customers will thus be able to receive a Blockchain network that is functional, fast and easy to set up. It will also assist the customers to focus on the development of the application instead of focusing on whether the Blockchain network is up and running. All the users will have the ownership of their membership, a copy of the data and will be able to approve or disapprove a transaction.

The announcement notes that major companies like AT&T, a US communications giant, Nestlé, a multinational food and beverage company, as well as the Singapore Exchange Limited, have been using AMB.

The initial announcement for AMB was made with the QLDB (Amazon Quantum Ledger Database) by AWS late last year. The QLDB ledger database is one designed to deliver a log of transactions that is immutable, transparent and verifiable cryptographically. The ledger is to be supervised by a central authority.

Rishma Banerjee

Rishma is currently pursuing a bachelor’s degree in International Relations and has a special place in her life for sifting through all sorts of random trivia, thank you very much.