Amazon Web Services, Amazon’s cloud platform, has announced the general availability of Amazon Managed Blockchain – a fully managed service that makes it easy to create and manage scalable blockchain networks.
It means that customers who wish to maintain a cryptographically verifiable record between multiple parties can do so on AWS without the need for a trusted, central authority. Amazon Managed Blockchain will scale to support thousands of applications and millions of transactions using popular open source frameworks like Hyperledger Fabric and Ethereum.
Amazon says that for customers in businesses like finance, logistics, retail, and energy there is a need to perform transactions quickly across multiple entities and blockchain gives them the ability to execute contracts and share data, with an immutable record of the transactions, but without the need for a trusted, central authority.
As usage of a blockchain application grows, there is a lot of work involved in scaling the network, including monitoring resources across all nodes, adding or removing hardware, and managing the availability of the entire network. This complexity is the reason many customers typically need the help of expensive consultants to make blockchain work. Amazon Managed Blockchain is a fully managed blockchain service that makes it easy and cost effective for customers to create and manage secure blockchain networks that can scale to support thousands of applications running millions of transactions.
“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 centralized 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.”
Customers include AT&T, Nestlé and Singapore Exchange Limited
Amazon already has customers using its managed blockchain service. AT&T has integrated its IoT and edge-to-edge portfolio to “allow [customers] to automate data collection to improve their ability to manage complex supply chain processes, monitor environmental conditions, improve security, gain real-time insights, and so much more.”
Nestlé is using the service to collaborate on supply chain transparency at the global food and beverage company. It said “Amazon Managed Blockchain will enable our customers to track their products on the blockchain from the farm all the way through to consumption.”