US-based online retailer Amazon (NASDAQ:AMZN) will be partnering up with a new blockchain start-up, Kaleido, on its Amazon Web Services (AWS) marketplace.
The announcement, which was made on Tuesday, said that Kaleido has the potential to create new possibilities for organizations and businesses, but the knowledge required continues to be “a steep learning curve.”
Kaleido is a start-up from ConsenSys that is meant to be “a new Blockchain Business Cloud aimed at speeding and simplifying enterprises’ journey to using the technology,” which will allow groups of businesses “to launch and operate enterprise blockchain networks on Amazon Web Services (AWS) without spending months and millions of dollars writing custom code.”
>>Amazon Releases Record Q1 Financial Results
It will be the first blockchain software as a service (SaaS) and will be able to “[link] between private networks and the public Ethereum mainnet.”
According to a recent CNBC article, Steve Cerveny, one of the founders of Kaleido, has said that this collaboration would easily allow customers to use blockchain without having “to become PhDs in cryptography.”
>>UPS Believes Blockchain is the Future of the Shipping Industry
Cervney has said that Kaleido will make blockchain much simpler for users to use, stating:
“If blockchain doesn’t become dramatically easier to use, then companies will have to walk back their investments and our society will be far too slow in realizing blockchain’s significant promise. We designed the Kaleido platform from scratch with new user experiences and tools to radically simplify the entire enterprise journey. This all-in-one Blockchain Business Cloud changes the economic equation of an enterprise blockchain project. By offering a full solution way beyond do-it-yourself scripts or templates, Kaleido significantly speeds up development and deployment cycles and dramatically lowers operating costs. What Salesforce did for CRMs, Kaleido will do for blockchain.”
Amazon share value has fallen nearly 2% on Tuesday since the announcement was made and, as of approximately 1:37 pm EDT, it was hovering near $1573.00 USD. The company opened on Tuesday at $1,587.80.
Comparatively, Amazon shares closed at a value of $1,601.54 on Friday, with a high of $1,611.18 and a low of 1,600.05.
Featured Image: Twitter
