Despite cryptocurrency crash, Amazon sees opportunity to embrace blockchain
Summary
Andy Jassy, CEO Amazon Web Services, speaks at the WSJD Live conference in Laguna Beach, California, U.S., October 25, 2016.The company said on Wednesday that its introducing two new services, including a managed blockchain offering, to let Amazon Web Services customers set up "a scalable blockchain network with just a few clicks" that "automatically scales to meet the demands of thousands of applications running millions of transactions.Outside of cryptocurrencies, few commercially viable products have been built on blockchain to date, and crypto prices have plunged, with bitcoin losing almost 70 percent of its value in 2018."We dont build things for optics," AWS CEO Andy Jassy said on Wednesday at the companys re:Invent conference in Las Vegas.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.
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