Bitcoin, blockchain and cryptocurrencies are at the centre of a global tech breakaway from centralized systems to decentralized; the latest big movers to dip their toes in the future technology are Microsoft and Amazon.
Mainstream industry adoption
2018 has proven itself an extraordinarily productive year for the blockchain industry as a whole. During the massive bull run of December 2017, the world could barely take its eyes away from the value of Bitcoin and other cryptocurrencies.
As the dust of the market boom settled through January and February, the global discussion moved away from the literal value of the currency and instead began focusing on how blockchain tech and cryptocurrencies could be part of the modern and future world.
Some of the most definitive and progressive moves have come from major banks and financial institutions which in some regions are struggling to understand and regulate cryptocurrencies, while in other parts of the world, cryptocurrencies are being trialled for “cashless society” projects.
Two of the biggest names in the digital world, Microsoft and Amazon, have begun their foray into blockchain technology. They have entered into the space either due to their curiosities regarding the technology, or because they understand that the technology is an inevitable part of the future.
Multiple approaches from Microsoft
Microsoft has built its success on a centralized system and has not necessarily been a stranger to the blockchain. In 2014, it toyed with Bitcoin payments on the Windows and Xbox stores, but have since been exploring the more technical aspects of the technology beyond that of its monetary value.
In February 2018, Microsoft sought out to solve issues of digital personal data and identity management with blockchain technology. A month later in March, it backed the development of the world’s first blockchain based investment product with its cloud platform, Azure.
More recently, Microsoft displayed its passion for driving innovation by creating a simplified blockchain workbench application development tool on Azure that claims to speed up blockchain-based app creation.
The leading e-commerce company has been under pressure for a while to begin accepting cryptocurrencies. Though it doesn’t yet seem ready to do so, Amazon has opened its doors for blockchain related proposals through its cloud computing platform, Amazon Web Services (AWS).
The company that revolutionized the e-commerce industry is setting itself up to be at the front of the race and is investing in blockchain through their partner ecosystem and infrastructure services.
AWS is welcoming proposals from partners who are involved in healthcare and life sciences, supply chain management, security, compliance and are also seeking those who wish to innovate with the company.
It is allowing users to create their blockchain applications via the service with CloudFormation Templates that almost bypasses the longevity of manual blockchain network setups.
A warm embrace
In the face of relentless negativity and speculation, Microsoft and Amazon appear to be on the same track as the rest of the blockchain industry. Despite their views on cryptocurrencies, they seem to have great faith in the technology. Furthermore, their cloud computing services now being tied with ease-of-access tools means that industry innovations can emerge at an even higher rate with Microsoft and Amazon backing them.
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