Amazon Web Services China division to collaborate with Qtum Blockchain

The cloud computing division of e-commerce giant Amazon, Amazon Web Services is partnering with the renowned Singapore-based blockchain project, Qtum. The China division of Amazon Web Services (AWS) is collaborating with Qtum to further improve their blockchain services.

Amazon Web Services (AWS) aims to develop their own Blockchain-as-a-Service (BaaS) for developers and corporations. Qtum, which is the world’s 29th largest cryptocurrency project according to CoinMarketCap, worth $325 million, will help them build it.

More about the Collaboration between AWS and Qtum

The Qtum team announced the collaboration in a press release issued on Thursday, October 18, 2018. The firm has stated that, with this collaboration, AWS will further empower its blockchain sector. Amazon Web Services already offer many blockchain solutions to corporates and developers. Furthermore, this step would let them help create a blockchain ecosystem and smart contracts with ease, in a secure, efficient and transparent manner.

Simon Wang, Head of Business Development at the Chinese division of Amazon Web Services stated this.”Qtum is now an AWS technology partner and one of the partner network members.”

Qtum has developed an Amazon Machine Image to create smart contracts easily. As a result, Amazon Web Services mentioned the cryptocurrency project on their services web platform in July 2018. Both the companies have been in a discussion regarding a possible collaboration since April.

Mike Palencia, Chief Information Officer (CIO) at Qtum blockchain project stated this. “We are going to work together with Amazon Web Services to contact different customers and clients. We’re looking into use cases, and the best way to do it is to have a contact with companies who have those use cases. Some clients have their own ideas and their own developers, and some of them want more support from us, want to talk to us directly.”

Qtum recently secured $1 million in funding from backers of OKCoin, Fenbushi, and BitFund.