Amazon Embraces Blockchain Despite The Dip on Crypto-Market

Amazon Embraces Blockchain Despite The Dip on Crypto-Market

Even as crypto-market plunged from nearly $830 billion in January to $121.5 billion this week, the leading e-commerce company sees an opportunity in the blockchain, the technology which underlies all cryptos. 

Amazon Doesn’t Give Up on DLT

On November 28, Amazon said it is presenting two novel services, among which there is managed DLT offering. This unaltered ledger development will help Amazon Web Services (AWS) customers establish a DLT net in a simple way. Most importantly, it solves the scalability problem, thus, it will meet the demands of thousands of applications with millions of transactions.

Our top trading bots

According to estimates, it will take blockchain six years to gain the scaling-up, but Amazon is already moving in that direction. The company’s novel product will support two popular DLT platforms. In particular — Ethereum as well as Hyperledger Fabric. If Ethereum is known as an open-source platform for devs related to ETH (third-most valuable crypto-coin), Hyperledger is what corporate titans like IBM apply to develop their projects on.

The top exec of AWS — Andy Jassy — said this week that their company does not spend money when they do not comprehend the issue. Therefore, the fact that they invested in blockchain means it indeed can solve the problem, and it is what many companies «need». 

He also added that Amazon is simply responding to the expectations of current clients. The CEO highlighted that blockchain can be applied for running records related to health-care, supply chain, mortgages and vehicle history as these are the most popular demands from customers. 

Besides this managed DLT product, AWS notified about its Quantum Ledger Database which will help users pattern a copy of their unaltered ledger activity.

Image Source: Flickr

Anchoring the worlds with flexible and high-performance on-chain governance
With adoption accelerating, blockchain’s potential to transform life in every way — from how business is conducted to labor division, operating systems...
Litecoin Climbs 10% In Bullish Trade
Investing.com - Litecoin was trading at $222.857 by 18:04 (22:04 GMT) on the Investing.com Index on Monday, up 10.21% on the day. It was the largest one-day...
Price analysis 3/22: BTC, ETH, BNB, ADA, DOT, XRP, UNI, LTC, LINK, THETA
The Turkish lira lost 15% of its value and dipped close to its all-time low after Turkey's President Erdogan fired central bank governor Naci Agbal. This...
Ripple Partners With U.S., Mexico and Filipino Exchanges For xRapid Solution
Ripple’s xRapid payment solution will be to move between XRP (Ripple’s cyber-coin) and three foreign public currencies thanks to a newly Ripple’s partnership....
Kim Kardashian Acquires Her First Physical Bitcoin
One of the most important personalities in the modern beauty and entertainment industries, American-Armenian socialite Kim Kardashian West has got her own...
Chinese President Xi Jinping Called Blockchain Applications “Breakthrough”
China is known to be harsh when it comes to cyber tokens and ICO. Despite this, it is still a world's centre for the DLT evolution. Moreover, the Chinese...
Warren Buffett Roasted Bitcoin, Explaining Why It Isn’t An Asset
Bitcoin has always been subject to criticism due to the lack of value in it when it comes to investing. BTC’s adversaries have been emphasizing that there...
How to Pay Taxes On Cryptos If You Live in The US?
Among newcomers in the crypto-ecosystem, it is common to believe that the most challenging thing is the purchase and vending of bitcoin or its ilks. However,...
34 Thousand Vulnerabilities Are In Ethereum Smart Contracts
Currently, in the Ethereum blockchain, there are hundreds of thousands of smart contracts that manage wallets, tokens, applications or used to store funds....
The Demand For Blockchain Developers Rose In 35 Times
American site Upwork, specializing in the search for freelancers, said that for a year the demand for employees associated with the blockchain industry...
Samsung Confirmed It Produces Chips For Mining Cryptos
Crypto business keeps experiencing wider adoption as Samsung Electronics steps in the industry. According to multiple South Korean local media notifications,...
Blockchain Will Bring As a Big Leap To Developing Countries As Smartphones Did
Blockchain can be as revolutionary in the emrging-market countries as mobile phones have been. As an expert at the investment bank Exotix Paul Domjan explains,...
BTC Survived Regulatory Tension, Hardening After a Week-Long Sinking
Last week was a week of turmoil for bitcoin as it went through the period of plunging from January 8 to January 11 but managed to somehow recover before...
Ukraine to Legalize Bitcoin, Consider The Emission of National Cryptocurrency
Another Eastern-European country – Ukraine – is taking over regulation of digital money. Not long ago, Ukraine’s neighbor to north Belarus legalized...
South Korea Ties Up Crypto Transactions as its Citizens Pile Into Digital Money
After the South Korean government released emergency measures for the regulation of cryptocurrency market in the market around two weeks ago, on December...