Nouriel Roubini on Amazon’s new blockchain services; says it is a centralized database

Nouriel Roubini, famously called Dr. Doom in the crypto world, commented on the Amazon Web Services [AWS] announcement of launching two new blockchain services. Roubini commented on the service saying that it is not a blockchain, but a centralized database. Roubini tweeted:

Roubini’s remark garnered the attention of cryptocurrency enthusiasts who were divided on Dr. Doom’s statement. A Twitter user commented:

“a Blockchain is a concept for representing information in a structured way. it says nothing about central or decentralized. That aspect only comes into play, when there is more than one Blockchain at the same time, and you want to converge to just one. POW is a mechanism for that”.

Some others dismissed his comment as a joke. Another Twitter user said,

“Slowly, you are starting to get it. Now, read the cypher-punk manifesto.”

AWS’s Chief Executive Officer, Andy Jassy, announced the launch of the Amazon Managed Blockchain on Wednesday. This service will underpin blockchain networks that register millions of transactions. Jassy mentioned that the company has spent the past year studying the requirements of clients in blockchain solutions before creating new products.

This service by Amazon supports two blockchain frameworks, Ethereum, and Hyperledger Fabric. Jassy spoke at ReInvent 2018 conference and said:

“This service is going to make it much easier for customers to use the two most popular blockchain frameworks.”

Jassy, in his keynote at the conference, also mentioned that the companies use Hyperledger Fabric when they are aware of the number of members in their blockchain and want strong private operations and capabilities. The web service assures to scale thousands of application and will enable users to carry out millions of transactions, reported Techcrunch. Jassy added in his note:

“When we heard people saying ‘blockchain,’ we felt like there was their weird conveluting and conflating what they really wanted. And as we spent time working with customers and figuring out the jobs they were really trying to solve, this is what we think people are trying to do with blockchain.”

The post Nouriel Roubini on Amazon’s new blockchain services; says it is a centralized database appeared first on AMBCrypto.