Amazon Web Services is trying to make blockchain more accessible
Amazon Web Services (AWS) is making Amazon Managed Blockchain generally available. The fully managed service claims to make it easy to create and manage scalable blockchain networks.
Customers can quickly setup a blockchain network spanning multiple AWS accounts with a few clicks in the AWS Management Console.
Customers choose their preferred framework (Hyperledger Fabric is supported at launch with Ethereum support coming later this year), add network members, and configure the member nodes that process transaction requests. Amazon Managed Blockchain takes care of the rest, creating a blockchain network that can span different AWS accounts and configuring the software, security, and network settings.
“Customers want to use blockchain frameworks like Hyperledger Fabric and Ethereum to create blockchain networks so they can conduct business quickly, with an immutable record of transactions, but without the need for a centralised authority. However, they find these frameworks difficult to install, configure, and manage,” said Rahul Pathak, general manager, Amazon Managed Blockchain at AWS.
“Amazon Managed Blockchain takes care of provisioning nodes, setting up the network, managing certificates and security, and scaling the network. Customers can now get a functioning blockchain network set up quickly and easily, so they can focus on application development instead of keeping a blockchain network up and running.”
In addition to making it easy to set up and manage blockchain networks, Amazon Managed Blockchain provides simple APIs that allow customers to vote on memberships in their networks and to scale up or down more easily.
“Customers can get a functioning blockchain network set up quickly and easily, so they can focus on application development instead of keeping a blockchain network up and running”
It offers a range of instances with different combinations of compute and memory capacity to give customers the ability to choose the right mix of resources for their blockchain applications. Amazon Managed Blockchain secures certificates for access control using AWS Key Management Service technology, eliminating the need for customers to set up their own secure certificate storage.
Unlike existing blockchain technologies that require custom development to extract blockchain network activity data, Amazon Managed Blockchain makes it easy to replicate transactions to Amazon Quantum Ledger Database (QLDB), which will offer a fully managed ledger database with a central trusted authority when it becomes generally available in the coming months.
This gives customers the ability to gain advanced insight into key trends, such as who is transacting and what is the rate of their transactions. Amazon Managed Blockchain is available immediately in US East (North Virginia) and will expand to additional regions in the coming year.
Big name users
Among those major organisations that are already using the solution are AT&T Business which offers a range of edge-to-edge technologies including mobility, cyber-security, networking, voice and collaboration, cloud and IoT solutions and services, global food and beverage company, Nestlé, and Singapore Exchange Limited (SGX), Asia’s leading and trusted market infrastructure, operating equity, fixed income and derivatives markets.
MOBI, the Mobility Open Blockchain Initiative, is a non-profit foundation formed to accelerate adoption of and to promote standards in blockchain, distributed ledgers, and related technologies. Chris Ballinger, founder and CEO, explained that MOBI hopes to build a worldwide network of cities, infrastructure providers, consumers, and producers of mobility services in order to realise the many potential benefits of blockchain technology.
“Since Amazon Managed Blockchain is a fully managed service, users are able to setup a Hyperledger Fabric network in minutes and easily invite other partners to join,” he said. “Also, since Amazon Managed Blockchain’s ordering service ensures reliable sharing of data across the network, our participants don’t need to worry about managing infrastructure and building a blockchain solution from the ground up.
“Instead, they can now focus on building applications for connected car payments, autonomous and electric vehicles, and peer to peer ride-sharing services.”
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