Amazon Web Services, the cloud computing platform from Amazon, today announced the general availability of , a fully managed service that makes it easy to create and manage scalable networks.
Customers who want to allow multiple parties to execute transactions and maintain a cryptographically verifiable record of them without the need for a trusted, central authority can quickly set up a network spanning multiple AWS accounts with a few clicks in the AWS Management Console.
Amazon Managed scales to support thousands of applications and millions of transactions using popular open source frameworks like Hyperledger Fabric and .
“Customers want to use frameworks like Hyperledger Fabric and to create networks so they can conduct business quickly, with an immutable record of transactions, but without the need for a centralized authority. However, they find these frameworks difficult to install, configure, and manage. Amazon Managed takes care of provisioning nodes, setting up the network, managing certificates, and security, and scaling the network. Customers can now get a functioning network set up quickly and easily, so they can focus on application development instead of keeping a network up and running.”
Easily create and manage scalable blockchain networks
For in businesses like finance, logistics, retail, and energy that need to perform transactions quickly across multiple entities, gives them the ability to execute contracts and share data, with an immutable record of the transactions, but without the need for a trusted, central authority. Customers typically create networks using frameworks like Hyperledger Fabric and , but setting up the networks using these frameworks is difficult and time-consuming. Each member of a network has to provision hardware, install software, create and manage certificates for access control, and configure network settings. As the usage of a application grows, there is a lot of work involved in scaling the network, including monitoring resources across all nodes, adding or removing hardware, and managing the availability of the entire network.
This complexity is the reason many typically need the help of expensive consultants to make work. Amazon Managed is a fully managed service that makes it easy and cost effective for to create and manage secure networks that can scale to support thousands of applications running millions of transactions. Customers simply choose their preferred framework (Hyperledger Fabric is supported at launch with support coming later this year), add network members, and configure the member nodes that process transaction requests. Amazon Managed takes care of the rest, creating a network that can span multiple AWS accounts and configuring the software, security, and network settings.
In addition to making it easy to set up and manage networks, Amazon Managed provides simple APIs that allow to vote on memberships in their networks and to scale up or down more easily. Amazon Managed offers a range of instances with different combinations of compute and memory capacity to give the ability to choose the right mix of resources for their applications. Amazon Managed secures certificates for access control using AWS Key Management Service technology, eliminating the need for to set up their own secure certificate storage.
Unlike existing technologies that require custom development to extract network activity data, Amazon Managed makes it easy to replicate transactions to Amazon Quantum Ledger Database (QLDB), which will offer a fully managed database with a central trusted authority when it becomes generally available in the coming months. This gives the ability to gain advanced insight into key trends, such as who is transacting and what is the rate of their transactions.
Singapore Exchange Limited (SGX) is Asia’s leading and trusted market infrastructure, operating equity, fixed income and derivatives markets to the highest regulatory standards.
“Ever since overcoming the physical limitations of open-outcry pits, technology has been fundamental to the transformation of critical financial-market infrastructures,” said Andrew Koay, Head of Technology, SGX. “SGX sees technology as a way to bring innovation to our distributed financial marketplace, and we have developed Delivery-versus-Payment (DvP) capabilities for the settlement of tokenized assets across different platforms. We are working with AWS to move our existing investments in Hyperledger Fabric to Amazon Managed . Amazon Managed offers businesses the opportunity to eliminate the heavy-lifting typically required in infrastructure setup. This allows us to focus on adding business value and not worry about managing or scaling the underlying platform.”
MOBI, the Mobility Open Initiative, is a non-profit foundation formed to accelerate the of and to promote standards in , distributed ledgers, and related technologies.
“Blockchains will increasingly impact the provisioning of mobility services since they enable business networks to reduce the cost of coordinating their activities,” said Chris Ballinger, Founder, and CEO, MOBI. “MOBI hopes to build a worldwide network of cities, infrastructure providers, consumers, and producers of mobility services in order to realize the many potential benefits of technology. Since Amazon Managed is a fully managed service, users are able to set up a Hyperledger Fabric network in minutes and easily invite other partners to join. Also, since Amazon Managed ’s ordering service ensures reliable sharing of data across the network, our participants don’t need to worry about managing infrastructure and building a solution from the ground up. Instead, they can now focus on building applications for connected car payments, autonomous and electric vehicles, and peer to peer ride-sharing services.”
TrackX is an enterprise asset management company deploying SaaS-based solutions for the comprehensive tracking and management of physical assets.
“Returnable asset tracking including movement and transportation tracking, invoicing, billing, payment, and remediation is complicated, and time sensitive,” said Dr. Eddie Shek, Chief Strategy Officer, TrackX. “ technology has the potential to increase the speed at which we track and reconcile returnable and reusable assets such as beer kegs, intermediate bulk containers, and plastic pallets. Before Amazon Managed , we had spent a huge effort building and managing our infrastructure. Now, we can use Amazon Managed to quickly and easily create networks with Hyperledger Fabric and easily enable our to monitor and maintain accountability throughout their entire supply chain. Amazon Managed fully manages our infrastructure and shared network components, enabling us to focus on developing smart contracts to deliver additional value to our .”
Accenture is a global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology, and operations.
“At Accenture, is driving business transformation in virtually every industry—from aerospace to not-for-profits,” said Prasad Sankaran, Senior Managing Director of Accenture’s Intelligent Cloud & Infrastructure business group. “’s unique characteristics are helping to reinvent complex supply chains, improve business processes, and expand the reach and veracity of our digital identities. As the technology continues to take hold, services such as Amazon Managed can drive both cost saving and revenue generating opportunities.”
Published at Tue, 30 Apr 2019 21:07:58 +0000