Amazon Web Services is Partnering with Qtum Blockchain for China

By Chetna Phour

China unit of Amazon Web Services (AWS) is partnering with the blockchain project Qtum to develop blockchain-as-a-service solutions (BaaS).

The head of territory business development at AWS China, Simon Wang confirmed the partnership by stating

“Qtum is now an AWS technology partner and one of the partner network members.”

In a press release team, Qtum said that the partnership would allow the AWS users to launch and develop smart contracts quickly, efficiently and cost-effectively using an Amazon Machine Image (AMI). Now AWS and Qtum are going to work together to get feedback from users about the use cases most in demand and provide the guidance to the users who do not have much software development resources.

Qtum is a Singapore based decentralised and open source smart contract platform and value transfer protocol. The platform uses proof-of-stake consensus, which means node operators are rewarded for validating transactions. Qtum is a DGP governed blockchain where community participants can vote to change certain network parameters. Qtum has made blockchain ready for the businesses by allowing the developers to build decentralized applications which work and execute on mobile devices and compatible with major existing blockchain ecosystems.

Qtum is working with a crypto project with a $325 million market capitalization which made it the 29th largest cryptocurrency, to develop blockchain-as-a-service (BaaS) solutions for developers and enterprises. Last year in March, Qtum launched a crowdfunding campaign to seek funds for the development of their new blockchain based platform. The campaign was scheduled to last for 30 days, but only in 0 minutes Qtum sold over 10 million dollars’ worth of tokens, and after raising $15.7 million, the platform stopped its campaign just after five days.

In July the AMI of Qtum was listed on the AWS marketplace, since then the two groups were discussing the technological partnership. According to the Chief Information Officer of Qtum, Mike Palencia,

“We are going to work together [with Amazon] to contact different customers and clients. We’re looking into use cases, and the best way to do it is to have contact with companies who have those use cases.”

Mike added that

“Some clients have their ideas and their developers, and some of them want more support from us, want to talk to us directly.”