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There has been much speculation about Amazon's position towards the blockchain and Distributed Ledger Technology (DLT) in general, and the retail multinational has recently announced two services that use distributed registries and blockchain technology. Amazon's receptiveness in using the blockchain is positively met by most cryptocurrency enthusiasts, as it paves the way for the future blockchain integration by the retail giant and can help the industry get closer to adoption mass.
Amazon Quantum Ledger Database and AWS
Blockchain managed
Retailing
the giant officially announced the Amazonia
Quantum Ledger Database (QLDB), its fully managed ledger database providing
a transaction log owned by a central trusted authority. The service uses encryption
to ensure that the register is transparent, immutable and highly verifiable,
and QLDB uses the SHA-256 cryptographic hash function. Amazon declares that QLDB keeps track of everyone
application data changes and works to maintain a complete and verifiable registry
of changes over time. However, the dealer also stated that the service
currently only provides an immutable diary only for the append that keeps track of everything
changes.
Amazon identifies itself
transparency, scalability, speed and ease of use as key features of QLDB and also
points out that the database can perform two to three times more transactions compared
to current blockchain offers. Most prevalent blockchain systems
use decentralized networks that require a significant number of network members
reach a consensus on the validity of the transaction. QLDB has a centralized system
design, which allows you to quickly perform transactions without need
consent of several parties.
healthdirect
Australia and Smaato have been confirmed as customers and Bruce Haefele, the general
Manager at Healthdirect Australia, a national non-governmental body owned by the government
The organization stated "Healthdirect Australia operates in a highly regulated manner
sector, and it is critical that our compliance data are correct and verifiable.
With Amazon QLDB we can not wait to have a complete and verifiable history of
every change in our system, making it easy to check when and how we arrived
the current state ".
Smaato is a leader
Online advertising exchange and CEO, Ragnar Kruse outlined the benefits of using
service, stating "All participants in online advertising and offers in real time
the market segments are interested in transparency during the entire life cycle
of an online ad auction, from the initial auction, to the winning bid e
ultimately until the delivery of the final impression and to who is actually shown
to".
Even Amazon expects
the service that must be adopted by operators in the financial, manufacturing, insurance,
Retail, Supply Chain, HR and Payroll. In addition to QLDB, the retail giant
he also launched AWS
Managed Blockchain, and the blockchain service supports both Ethereum and
Hyperledger Fabric and aims to make it easy for businesses to create and
manage scalable blockchain networks using the two popular open source
paintings.
Moreover,
Amazon managed Blockchain can replicate an immutable copy of a company's blockchain
network activity in the Amazon Quantum Ledger database (QLDB), thus allowing
users easily analyze various aspects of network activity and keep track of
emerging trends. The service is also expected to scale to thousands of
applications and to allow users to execute millions of transactions. It can also be
used to manage certificates, invite new members to join the network and monitor metrics
as the use of memory and storage resources. Users can browse AWS
Console to configure nodes, add members, or deploy applications.
AWS Andy CEO
Jassy recently declared "This service will do it
much easier for you to use the two most popular blockchain frameworks. When we
I heard people say "blockchain", we felt like there was their weird
convoluting and conflating what they really wanted, and how we spent time
work with clients and understand the jobs they were really looking for
solve, this is what we think people are trying to do with blockchain. "
Is it an Amazon digital currency?
Amazon
moving to integrate blockchain technology into its main operations has brought some
in space to speculation that society could be closer to incorporation
cryptocurrency payments. This idea began to gain traction when it was revealed
that the company bought three cryptocurrency domains last year. Amazon acquired AmazonEthereum.com,
AmazonCryptocurrency.com and AmazonCryptocurrencies.com in 2017, unleashing
rumors that the encrypted adoption was imminent, and currently the Bitcoin holders are
forced to use an intermediate site like pseudo.io to use their cryptography
participations to make purchases on Amazon.
While the top
brass on Amazon remains tight to lips regarding the possibility of an Amazon coin,
any decision to integrate a cryptocurrency payment solution would have to
huge impact on the whole space. Amazon has seen over $ 177 billion of revenue in
2017, and a digital currency could be used to make purchases on the main site
as well as using Twitch, Audible and Amazon subsidiaries such as CreateSpace,
Whole Foods Market and Zappos.
The retailer contributes to forming the FANG group of high-yield technology stocks and one of Facebook, Amazon, Netflix or Google that chooses to launch a digital currency or integrate already existing cryptographic payment options would represent an important step towards the adoption mass.
Featured image via BigStock.
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