Technology: Amazon Web Services Reveals New Blockchain Products

Amazon Web Services is finally expanding its managed IT services portfolio with two new blockchain products.

Last week at the AWS reInvent 2018 event in Las Vegas, CEO Andy Jassy revealed the two blockchain services: Quantum Ledger Database (QLDB) and Amazon Managed Blockchain. The announcement came only a year after he expressed a lack of interest in the technology.

QLDB is a fully-managed ledger database which tracks transactions in a “transparent, immutable, and cryptographically verifiable” way.

“We had an epiphany,” said Jassy. “We had to build something like this ourselves a few years ago to have a transactional log for every data plane change to make operations and billing easier, so we … built what we call QLDB, an immutable, transparent ledger that we thought we could externalise.

Jassy said QLDB will be “really scalable”, with flexible set of APIs to allow changed and adjustments to the ledger database.

On the other hand, Amazon Managed Blockchain is a service that supports two popular blockchain frameworks, Ethereum and Hyperledger Fabric. The company said the Managed Blockchain service will enable users to run millions of transactions.

“When we heard people saying ‘blockchain,’ we felt like there was their weird conveluting and conflating what they really wanted,” said Jassy. “And as we spent time working with customers and figuring out the jobs they were really trying to solve, this is what we think people are trying to do with blockchain.”