Amazon Enters Blockchain Market With Cloud-Computing Services

Amazon.com is jumping on the blockchain wave with new cloud services that help customers build the technology needed to record transactions. From a report: Amazon Web Services Chief Executive Officer Andy Jassy on Wednesday announced Amazon Managed Blockchain, a new service underpinning blockchain networks that record millions of transactions. The company spent the past year studying the needs of customers interested in blockchain solutions before creating the new products, Jassy said.

The service can be used to manage peer-to-peer payments, process loans and help businesses transact with distributors and suppliers, Jassy said. AWS announced a string of other new or updated cloud offerings, seeking to maintain its lead in the market for internet-based computing.

The company also announced a new service called Amazon Quantum Ledger Database or QLDB, which is a fully managed ledger database with a central trusted authority. The service, which is launching into preview today, offers an append-only, immutable journal that tracks the history of all changes, Amazon said. And all the changes are cryptographically chained and verifiable.

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