jeff bezos

Amazon, Walmart - Accepting of Crypto!

  • AWS CEO Andy Jassy unveiled two new blockchain products at the re:Invent conference in Las Vegas on Wednesday.

  • The company will offer Amazon Quantum Ledger Database and Amazon Managed Blockchain for developers using its cloud-computing services.

  • Amazon is introducing the services despite an almost 70 percent plunge this year in the price of bitcoin.

Amazon's new product will support two popular existing blockchain platforms — Ethereum and Hyperledger Fabric. Ethereum is a popular open-source building platform for developers, linked to the cryptocurrency ether, while corporate giants including IBM are currently building projects on Hyperledger.

In addition to the managed blockchain product, AWS announced Amazon Quantum Ledger Database, or QLDB, where customers can replicate a copy of their blockchain network activity.

Amazon already leverages Ethereum on its cloud network, and in May announced a partnership with start-up Kaleido to make it easier for customers to put their services on blockchain. Microsoft offers customers "blockchain as a service" on its Azure cloud.

On the other side of the fence, Walmart is also fully invested in Blockchain. Walmart recently became one of the first retailers to explain how it will be using the technology. The company said it would require lettuce suppliers to upload data about their foods to blockchain within a year.

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