Amazon Web Services Launch Free Ethereum and Blockchain Hyperledger Templates for Users

  • Amazon is the third-largest retailer in the world.
  • The world's largest retailer, Walmart, has filed patents for multiple blockchain networks and interfaces.

Blockchain adoption is surging worldwide as corporate giants fall in line and take measures to adopt and integrate the distributed ledger technology to handle various aspects of their business. 

Walmart, the largest retailer in the world has been filing blockchain patents, Samsung may be about to use blockchain for their huge logistics operations, and now Amazon Web Services (AWS) has deployed Ethereum and hyperledger fabric blockchain templates on its website. According to Amazon's subsidiary AWS, the templates have been created to allow for quick and easy deployment of blockchain systems on site. 

A fast and easy way to create and deploy secure blockchain networks using open source frameworks

AWS

The templates are there for users to integrate blockchain into their Amazon retail enterprises, perhaps the highest level of mainstream blockchain customization and adoption to date in the blockchain space. Amazon generated $30 billion worth of revenue last year and, allowing sellers to develop their own blockchain systems independently of each other, could allow for rapid development and practical implementation of different experimental blockchain networks. 

There is no additional charge for AWS Blockchain Templates. You pay only for the AWS resources needed to run your blockchain network. You can create and deploy blockchain networks in any public AWS region.

AWS

The tools to create new blockchain networks can be found on the getting started page of AWS. The launch of the templates comes two years after AWS partnered with Digital Currency Group (DCG) in 2016 to begin experimenting with and integrating blockchain. 

How Bakkt Can Bring the Crypto Space an Institutional Investor Influx

Cryptocurrency enthusiasts have for years been waiting for institutional investors to enter the space. While the introduction of bitcoin futures contracts on regulated exchanges in late 2017 didn’t gain a lot of traction, but Bakkt may.

Bakkt is a long-awaited bitcoin futures exchange and on-boarding platform from the Intercontinental Exchange (ICE) - the parent company of the New York Stock Exchange – and it’s set to launch this year. Bakkt itself has remained tight-lipped over the precise launch date after delaying its launch last year, with ICE CEO Jeff Sprecher in February simply saying “later this year.”

It’s possible that this quarter may see the launch or at least more news about when the exchange is finally coming. At the end of March, Bakkt CEO Kelly Loeffler explained:

While we’re not yet able to provide a launch date, we’re making solid progress in bringing the first physical delivery price discovery contracts for bitcoin to the U.S.

Bakkt’s launch could be a major milestone for the cryptoasset industry. A venture backed by Microsoft and Starbucks, its institutional pedigree alone will switch many cautious investors on. Specifically, the firm is set to help consumers pay for goods and services with cryptocurrencies, with Starbucks being the flagship retailer in its arsenal.

Bakkt’s Bitcoin futures contracts will be the first physically-settled derivatives on a regulated trading platform. This means investors will receive the contract’s underlying asset, bitcoin, when it expires.

Currently the Chicago Mercantile Exchange (CME) offers cash-settled bitcoin futures contracts, meaning investors get the equivalent of BTC’s value in fiat when the contracts expire. This is seen by some as a major development in the cryptocurrency space, as it shows traditional finance is willing to interact with the nascent cryptoasset industry.

It’s worth noting that earlier this year the ICE’s CEO called Bakkt a “bit of a moonshot bet,”  as it was organized in a way “very different than the way ICE typically does business.” The firm has its own offices and management team, and could undergo more rounds of financing in the future.

Bakkt And a Potential Bitcoin ETF

What’s significant about Bakkt’s launch beyond this, is that it may bolster the chances of a Bitcoin Exchange-Traded fund (ETF) being approved. Such a product would make it easier for institutional investors to gain exposure to cryptocurrencies.

In August, the US Securities and Exchange Commission (SEC) rejected nine other ETF applications, in particular highlighting how those applying hadn’t provided evidence that “bitcoin futures markets are of significant size’” for an ETF to be launched.

Once Bakkt is launched its trading volumes may very well help quell the SEC’s concerns over the bitcoin futures markets’ small size as institutions and other investors may feel comfortable entering it. Larger futures contracts trading volume, increased liquidity and a well-established company involved may prove enough to convince the SEC that the time is right for a Bitcoin ETF.

Bakkt therefore represents a very significant milestone for a maturing cryptoasset industry and may well herald the “institutional influx” that many have been anticipating since 2017. Despite the markets remaining relatively flat throughout 2019 these looming decisions in the U.S. have the power to move the entire industry forward, for better or worse.