Amazon joins the fleet of companies investing in blockchain

On Tuesday 15th May, the E-commerce giant, Amazon.com Inc. announced that they are collaborating with Consensus Systems, better known as ConsenSys, to move into blockchain technology. Amazon is going to expand their cloud computing arm to provide their customers an easier usage of the blockchain.

Amazon is going to introduce “Kaleido”, a product of ConsenSys. They are aiming to grant their Amazon Web Services [AWS] customers easy access to the benefits of blockchain technology. AWS is a subsidiary of Amazon which offers a paid subscription to individuals, companies, and governments to their cloud computing platforms. Kaleido is going to be the first blockchain SaaS solution available on the AWS Market.

One of the founders of Kaleido, Steve Cerveny said that they are focusing on giving Amazon a simple platform to build their company on blockchain in which they can work on their innovations without many complications.

A lot of major players in the industry are investing and benefiting from the blockchain technology. The research teams at these major firms are developing their own blockchain or collaborating with various blockchain-based software companies. IBM, Accenture, Deloitte, J.P. Morgan, and HSBC are among the leading financial and tech firms who are developing and adopting blockchain technology.

Last week, a spokesperson of Facebook has given statements on various social media platforms stating that they have plans to launch their own cryptocurrency with their main focus being on improving the cross-border payments for their applications.

Facebook is exploring how to leverage the blockchain across their platform with a team led by David Marcus, the Vice President of Facebook messenger but there hasn’t been an official announcement regarding this matter. Facebook is planning to include a new blockchain to address their user’s privacy concerns.

A. Pompliano, a crypto-capitalist says:

“Amazon just announced a partnership with Consensus to reduce friction to blockchain tech for all developers. The big companies are getting behind the virus. No one can stop it”

Xico Hold ‘em, a cryptocurrency investor tweeted:

“These partnerships do nothing for $bitcoin or $cryptocurrencies adoption. In fact they may jeopardize the efforts to decentralize consensus..”

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