Amazon Web Services is Now Working With Blockchain Startups

NEWS
Stan Higgins
May 2, 2016 at 17:30 UTC  |  Updated  May 2, 2016 at 22:31 UTC

Amazon Web Services (AWS), the cloud computing business operated by Web commerce giant Amazon, is partnering with investment firm Digital Currency Group (DCG) to offer a blockchain experimentation environment for enterprises.

In collaboration with the startups in the DCG portfolio, AWS will provide dedicated cloud infrastructure and technical support for those projects. The startups, along with DCG, will collaborate with enterprise businesses looking to explore and test different blockchain applications.

Scott Mullins, head of worldwide financial services business development for AWS, said in a statement:

"Today in financial services, distributed ledger technology is at the forefront of any discussion related to innovation. AWS is working with financial institutions and blockchain providers to spur innovation and facilitate frictionless experimentation."

While the deal represents the first official step into the blockchain space for AWS, the business has played a role in projects and initiatives involving the technology in the past.

Two months ago, Amazon was one of several cloud services that provided infrastructure for a commercial paper-trading trial conducted by the blockchain consortium led by New York-based startup R3CEV.

Back in January, an AWS workspace based in Manhattan played host to a blockchain startup event organized in part by Santander InnoVentures, the venture arm of Banco Santander.

Furthermore, blockchain providers like Eris Industries have used the AWS Marketplace to offer their solutions via the cloud, and in a recent blog post, Coinbase CEO Brian Armstrong detailed how the bitcoin exchange and wallet service utilizes the service.

Globally, Amazon's cloud services have proven both popular and profitable, netting roughly $2.7bn in income during the first quarter of this year, according to a report by GeekWire.

Image Credit: logoboom / Shutterstock.com

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