Amazon has announced that it will be partnering with Digital Currency Group to provide it's own blockchain as-a-service sandbox. Amazon's move is most likely due to Microsoft and IBM's recent developments in the space as well. This is most likely the beginning of a broader move on Amazon's side to understand the implications of the blockchain and how it could potentially transform cloud services as well.
As financial services sprints toward a blockchain future, companies need a secure platform for experimenting with the technology. Amazon Web Services announces Monday that it will collaborate with New York City-based Digital Currency Group, one of the biggest investors in blockchain firms, to provide such a service so the blockchain providers in DCG’s portfolio can work in a secure environment with clients who include financial institutions, insurance companies and enterprise technology companies. A blockchain — often called a distributed ledger — is essentially a tamper-proof ledger, copies of which are held on multiple computers, that enables transactions to occur securely and quickly. It promises to make financial services more efficient, as well as cut costs and potentially shrink the industry as the software conducts functions currently executed by middlemen.