Published: Wed, May 16, 2018
Business | By Tara Barton

Amazon Replicates Facebook, Microsoft, Partners Startup Built on Ethereum (ETH) Blockchain

Amazon Replicates Facebook, Microsoft, Partners Startup Built on Ethereum (ETH) Blockchain

Following a week filled with bullish news, we have one more you shouldn't miss: tech giant Amazon has chose to partner up with a start-up named Kaleido, with the goal of making it easier for customers to transfer their services on the blockchain.

The new blockchain service was announced at the recent Consensus 2018 Conference in NY and will see the two organizations work together to assist companies in capturing the potential of blockchain technology.

The cloud computing giant will team with a new start-up launching Tuesday called Kaleido, which was born out of leading blockchain incubator known as Consensys.

According to a report from Gartner, surveying over 3,138 CIOs, approximately just 1% revealed that they had implemented some kind of blockchain throughout their organisations.

The development gives customers advantage to build their firms on blockchain technology.

Enterprises have business needs driven by security, compliance, ownership, privacy, and scalability requirements, which can bring additional complexity to their blockchain projects.

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Kaleido provides a full solution for those ready for something more than do-it-yourself scripts or templates, streamlining the process of standing up secure, private blockchain networks without sacrificing the ability to customize the environment.

"Introducing Kaleido to AWS customers is going to help customers move faster and not worry about managing blockchain themselves", Amazon Web Services said in a statement.

What Can Kaliedo Do?

Enterprises can anchor their chain to mainnet and store the state on public blockchain. Many flavors of blockchain have evolved over the years as public and private blockchains have emerged. We knew that a next generation platform must focus on convergence between the two. "And true to our mission, we are pushing the boundaries in this area and making it really easy for companies to tap into".

"It also represents the first "dual mode" use of Ethereum, enabling private, permissioned Ethereum-based systems to link with public, permissionless Ethereum, in order to achieve an element of trustworthiness that has previously been unobtainable", Ethereum co-founder Joseph Lubin noted of the deal.

Blockchain has the potential to enable new possibilities that were previously out of reach for many organizations.

Disclaimer: Our writers' opinions are exclusively their own and do not reflect the opinion of CryptoSlate. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies. Buying and trading cryptocurrencies should be considered a high-risk activity.

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