Amazon to Move into Blockchain with Kaleido

On Tuesday, the cloud-computing arm of Amazon announced the much easier way for consumer to use blockchain with its new partnership with Kaleido.

Amazon Box on the Floor

Kaleido is a new start-up, which was born out of the leading blockchain incubator called Consensys. The cloud-computing giant is planning to give Amazon Website Services consumers an “easy button” to get into the same technology that underpins bitcoin.

“They can focus on their scenario and they don’t have to become PhDs is cryptography, we give them a simple platform to build their company on blockchain,” Steve Cerveny, one of the founders of Kaleido, stated.

Meanwhile, the blockchain technology records the transactions on a public, distributed ledger. According to advocates, it gets rid of the need for a third party in many cases. Advocates advertised the technology as a faster and more secure.

“Introducing Kaleido to AWS customers is going to help customers move faster and not worry
about managing blockchain themselves,” the Amazon Web Services stated.

Kaleido is the first Blockchain SaaS solution that is available on the Amazon Web Services Marketplace. This will also help them to rapidly advance their blockchain projects.

Amazon Web Services is a subsidiary of Amazon that provides a paid subscription for cloud computing platforms to everyone. The cloud-computing giant is using a partner-led strategy instead of building from scratch.

“They’ve been looking for partners to help get blockchain into their customers’ hands,” said Cerveny. “They’re putting it in the marketplace will accelerate what their customers are going to do with it.”

According to the founder of Ethereum blockchain platform, this is the biggest move yet by the tech giant to get into blockchain.

“This is a heavy duty, full stack way of getting the company into blockchain solutions,” Joseph Lubin, the founder of Ethereum, stated.

Amazon to Match the Sales of Walmart

Amazon is on track to match the sales of its rival Walmart within the next two to three years, said J.P. Morgan.

According to the analysis of the bank, the U.S. gross merchandise volume of Amazon is set to match Walmart’s net U.S. sales by the year 2020 or 2021.

“Amazon is the second-largest U.S. retailer and fastest growing at scale,” Christopher Horvers, an analyst, said.

“We believe key drivers of Amazon’s share gains include: the Prime ecosystem; endless aisle driven by third-party seller expansion; outsized growth in large, underpenetrated categories; and removing friction and moving closer to customers.”

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