As blockchain enters into every sector, for Amazon, its Amazon Managed Blockchain (AMB) solution is a game changer platform for the public.
Through its subsidiary Amazon Web Services (AWS), Amazon is a company owner of a cloud computing platform. The platform combines working algorithms of Hyperledger and Ethereum to run its open source frameworks platform. Through its platform, businessmen together with customers can use the solution to create and manage their blockchain solutions with ease. AWS provides them with a platform to host their multiple AWS accounts and manage them easily.
Business and Customers to Benefit from AMB
Per Amazons release, Amazon Managed Blockchain is a blockchain as a service (BaaS) which will help stakeholders get rid of centralized management. For instance, for customers, AMB will be of huge help since it will enable them to create multiple parties who need a quick and fast way to execute their transactions while at the same time maintain proper records.
Furthermore, for customers in sectors such as energy, retail, logistic and finance, AMB provides them with a solution to only run their multiple transactions quickly, execute contracts and also enable them to share data. In addition to the above, AMB also lets them save on time and the expenses that come with setting up these intricate management networks.
As the crypto community gets to learn more about services of AMB, the solution has already had several firms signing up to use the solution starting with Singapore Exchange Limited, Nestle Global food, and beverage firm and the United States based communications giant AT&T. Alongside announcing the development of AMB, Amazon also set plans in motion to develop Amazon Quantum Ledger Database (QLDB).
