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Amazon Web Services (AWS), Amazon's digital arm, has released new blockchain products. The decision to launch these services reaches the lowest point in the virtual currency market in over a year. The information was released by CNBC a few days ago.
New Blockchain products from Amazon Web Services
AWS continues to work with blockchain technology. The company announced last week that it has introduced two new services that include a managed blockchain offering and the Amazon Quantum Ledger (QLDB) database.
According to a Press release loaded by the company, Amazon Managed Blockchain is a fully managed service that simplifies the creation and management of the scalable blockchain network. To do this, AWS used Hyperledger Fabric and the Ethereum network. The new product eliminates the overhead necessary to create the network. At the same time, it is automatically resized to meet the needs of users.
With Amazon Quantum Ledger Database, you can analyze network activity and receive valuable information about it. Managed Blockchain is also able to replicate an immutable copy of the blockchain network activity in QLDB.
AWS CEO Andy Jassy said the company spends the funds on a specific product or service once the problem is understood. Furthermore, he said that this is something that many companies must understand.
Jassy explained that AWS is responding to the demand from existing customers. Some of the most common customer use cases are mortgages, health records, supply chain monitoring, and vehicle history records.
The managed Blockchain product appears to be a continuation of a previous product introduced in April, called AWS Blockchain Templates.
The decision that Amazon has taken to launch these products is very positive for the market. It shows that the most important companies are still investing in the market. However, Amazon is not the only company to launch new products. Coinbase recently launched an OTC branch to allow institutional and wealthy investors to enter the market in a regulated environment.
Companies are betting on the future of cryptocurrencies and blockchain technology. At the time of writing, Bitcoin is trading close to $ 4,200 and has a market capitalization of $ 73.06 billion. November has been a very difficult month for virtual currencies, but it seems that December has started in a positive way.
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