Does Amazon Use Blockchain?

Amazon, one of the advanced e-commerce platforms of all time, always comes up with a new tech and service every other day. Its rapid expansion didn’t leave out the trending advancements of blockchain technology, as now it extends the services of Amazon Managed Blockchain rather than depending on any existing ones. Designed for an easy approach and application of blockchain technology in every business and industry, explore ahead how it can help develop an integrated network for your firm!

Amazon’s Managed Blockchain (AMB) services

Private or managed blockchains help establish a partially decentralized platform restricted to a single organization. If you are a business owner working with Amazon Web Services, AMB still allows you to access a public blockchain or develop a separate private network for your enterprise.

Though Amazon doesn’t work on any other blockchain, its AMB supports and rents from open source frameworks like Hyperledger Fabric and Ethereum to develop and launch your private ledgers. You can also check here how the crypto transferring financial channels can collaborate with your private network to simplify the transactions.

Benefits of managed blockchains for businesses

Do you think this managed blockchain system is more difficult to maintain than a public network system? If you wonder, launching a private network demands a lot of hardware and programming, here’s how AMB can support you with an easy approach.

Economically feasible

Unlike the general private networks requiring hardware setup, back-end programmers, system configuration, and security setups, AMB provides an instant platform to develop your network. Your users can create their AWS accounts and access the privatized blockchain exclusive for your business.

Pre-designed features and frameworks

Amazon offers a chance to choose among the Ethereum or Hyperledger Fabric blockchain frameworks to deploy your private network. The former framework is well established for privacy policies allowing you to authorize the data handling actions on the ledger. 

Whereas the latter, Ethereum, promises a transparent environment for every transaction. AMB provides pre-programmed templates of these frameworks to create, launch and monitor your private network.

Members allowed only by choice

Even though only AWS account holders can access it, your blockchain won’t be open for all. The existing members have to vote on the blockchain’s voting application to validate the acceptance of every new member or node. You or your employees can also access public ledgers, but it won’t require any voting and acceptance. Thus, your managed network stays private to your processes.

Security guaranteed

Along with all the blockchain security features like decentralization, data fragmentation, and encryption, Amazon blockchain users can also store and secure their private and publicly accessing keys using AWS’s key management technology. 

With the advanced machine learning principles, the network can combine every business-related procedure, starting from supply chain management to customer relationship management, on a single platform while monitoring the functions and performance of every node.

Conclusion

Unlike public blockchain networks that are open for all, your business can now secure itself with premium private blockchains. Amazon trading platform supports the individual business owners with Amazon Managed Blockchain services to develop an integrated and monitored network backed by several facilities. 

Since it supports the Ethereum framework, you can explore and implement Symbiosis services for seamless crypto transactions across all EVM-compatible blockchains.