Amazon bets on Blockchain and launches Managed Blockchain

Amazon bets on Blockchain and launches Managed Blockchain

Tech titan Amazon launched a blockchain service that will work under its AWS parachute to help clients develop blockchain networks with just a few clicks. Amazon made that move as the company sees plenty of opportunity with this technology.

The announcement made at the Amazon’s re: Invent conference shows that the company believes in the blockchain technology despite the bad headlines concerning the cryptocurrency collapse performed in 2018.

Amazon Managed Blockchain will allow Amazon Web Services clients set up “a scalable blockchain network with just a few clicks.” It “is a fully managed service that makes it easy to create and manage scalable blockchain networks.”

According to the press release, “Amazon Managed Blockchain eliminates the overhead required to create the network.” It will be easily expanded to meet “the demands of thousands of applications running millions of transactions,” and will support Ethereum and Hyperledger Fabric blockchain platforms.

Amazon Managed Blockchain: Just a few clicks

“Once your network is up and running, Managed Blockchain makes it easy to control and maintain your blockchain network,” the web says.

The company is accepting early consumers right now as the service is still in a preview stage. Long story short, Amazon Managed Blockchain works by creating a network in an AWS account, where the client chooses an open source blockchain framework; then, he invites members, who are other AWS accounts, to join the network; subsequently, the client adds nodes and configures the blockchain peer nodes that store a copy of the distributed ledger.

Finally, the network deploys applications and start transactions between members on the network.

The solution is focused on trading and asset transfers, retail industry and the supply chain. However, “Hyperledger Fabric available today. Ethereum coming soon.”

Walmart is using blockchain to stop foodborne illnesses

Amazon is joining the Blockchain revolution in big companies. Previously this year, Walmart announced it would use blockchain technology to stop the spread of foodborne illnesses such as E. Coli and other diseases in lettuce.

Walmart is asking food suppliers of leafy greens to use blockchain to track food. They have until September 30, 2019, to comply with the system Walmart has been testing on an IBM blockchain platform for the past 18 months.

And end-to-end solution by Blockchain

According to a press release published by Walmart, “this change means that the information gathered by these suppliers will be open and accessible through technology that offers real-time, end-to-end traceability from farm to table. Blockchain allows for digitised sharing of data in a secure and trusted way.”

Walmart highlighted that the traditional paper-based method of capturing information in the food chain makes it complicated to fight against foodborne illnesses. “This change means that the information gathered by these suppliers will be open and accessible through technology that offers real-time, end-to-end traceability from farm to table. Blockchain allows for digitised sharing of data in a secure and trusted way.”

“We have been working with IBM to digitise that, so the information is captured on the farm with a handheld system. It is captured at the packing house at the supplier,” explained Frank Yiannas, VP of Food Safety at Walmart. The plan is to implement blockchain to speed up identifying, researching and reacting to food safety situations.

Sam’s Club is also implementing the same measure and technology with its suppliers.

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