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How Leading Enterprises Are Building Blockchain Innovation On AWS

Blockchain hype—led by cryptocurrency headlines—obscures powerful enterprise applications of the technology. We aim to change that. In this series, we’ll bring you insights from Amazon Web Services customers and partners who are using blockchain to change the world.

The world grows more interconnected every day. Businesses collaborate across the globe. Transactions increase in volume and intricacy. Organizations that share sensitive information across public networks risk information leaks and the possibility of sophisticated cyber attacks.

Traditional methods of storing, verifying, and securing transactions struggle to keep pace with this rising complexity. Massive inefficiency results from the need to process and verify information spread across entities. Entire industries exist only to serve as trusted intermediaries between parties. Attempts at automation create fragile webs of APIs.

Blockchain and digital ledger technologies solve these problems by storing transactions in ways that are transparent, immutable, and verifiable. And they allow multiple parties to transact in a trustworthy and efficient manner, with or without a centralized authority.

Many exciting use cases are possible. Manufacturers could build track and trace ledgers that unify data from multiple systems, enabling faster identification of the reasons for product defects. Consumers could see the history of goods from raw materials to last-mile delivery. Insurers could pay claims in seconds. The time it takes to issue a bond through a securities exchange could shrink from months to minutes.

Companies are working to reap the benefits of blockchain, such as greater speed, efficiency, and reduced risk. For example, Gartner calls blockchain one of the top 10 strategic technologies of 2019. Eighty-five percent of enterprises in a Deloitte survey said they invest $500,000 or more annually in blockchain technologies.

Yet few have deployed these systems to production. Significant challenges hamper the transformative potential of blockchain. Businesses cite regulatory issues, technical barriers, security threats, uncertain ROI, and lack of in-house skills as the biggest barriers.

Many of our own customers, such as Nestlé and Singapore Exchange, have told us about the complexity of building scalable enterprise applications on blockchain. Setting up the hardware, networking, and software can be daunting, even before getting to the experimentation phase. This delays potentially life-changing innovations.

Amazon Web Services (AWS) solves these issues in two major ways. First, we built Blockchain on AWS—a set of massively scalable blockchain and distributed ledger services in the cloud. If all you need is a centralized ledger that immutably records all application data changes, there’s Amazon Quantum Ledger Database (Amazon QLDB). If you need to build a distributed application with ledger capabilities and the ability for multiple parties to transact without a trusted central authority, there’s Amazon Managed Blockchain.

Second, we collaborate closely with leading enterprises to speed innovation. From global manufacturers to finance-industry cornerstones, these companies are creating a more scalable, secure, efficient future. For example, they’ve demonstrated that blockchain delivers throughput to handle U.S. securities trading. Others have built solutions to connect small-scale farmers with consumers thousands of miles away.

We’ll highlight these and many other exciting use cases in the coming weeks. We’re thrilled to bring you along on the journey.

For 13 years, Amazon Web Services has been the world’s most comprehensive and broadly adopted cloud platform. AWS offers over 165 fully featured services for compute, storage, databases, networking, analytics, robotics, machine learning and artificial intelligence (AI), Internet of Things (IoT), mobile, security, hybrid, virtual and augmented reality (VR and AR), media, and application development, deployment, and management from 66 Availability Zones (AZs) within 21 geographic regions, spanning the U.S., Australia, Brazil, Canada, China, France, Germany, Hong Kong Special Administrative Region, India, Ireland, Japan, Korea, Singapore, Sweden, and the UK. Millions of customers—including the fastest-growing startups, largest enterprises, and leading government agencies—trust AWS to power their infrastructure, become more agile, and lower costs. To learn more about AWS, visit aws.amazon.com.

Source: How Leading Enterprises Are Building Blockchain Innovation On AWS

 

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Amazon’s HQ2 Could Be Silicon Valley 2, For Better Or Worse – Pete Saunders

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Thirteen months into the international derby that is the Amazon HQ2 selection process, it seems the end of the sweepstakes is near. What’s happened? What have we learned? What’s next? It’s been a dizzying year-plus for the giant online retailer. Amazon received 238 proposals last November from cities across North America, each wanting a crack at attracting upwards of 50,000 high-paying tech jobs that could send a local economy on an entirely different trajectory. Twenty finalists were announced last January, and Amazon began its due diligence in earnest……

Read more: https://www.forbes.com/sites/petesaunders1/2018/10/05/amazons-hq2-could-be-silicon-valley-2-for-better-or-worse/#4b7c238417b3

 

 

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