Amazon incorporates Corda on its platform

Amazon Web Service’s (AWS) acceptance of blockchain technology has been somewhat slow. Until last week, AWS was still reluctant about integrating the blockchain technology on their platform.

Just a few months ago, Andy Jassy, CEO of Amazon, announced that the company will not be embracing blockchain technology anytime soon. He explained that there are not a lot of situations in which the technology can be put to use. However, on December 6th, AWS announced that it will incorporate the Corda platform to provide blockchain solutions to its clients.

The Corda Distributed Ledger platform was launched on AWS marketplace by R3, a startup consortium consisting of more than 70 companies and financial institutions from all over the world. Corda is the first distributed ledger technology (DLT) solution available on AWS, allowing the users to create and deploy applications for finance and commerce. It also enables the users to develop ‘CorDApps’ as well as deploy already existing CorDApps by R3 directly from AWS.

Corda is a DLT platform that provides enterprise-grade blockchain technology to various establishments. Its main objective is to eliminate any resistance in business transactions, enabling establishments to make transactions using smart contracts while providing the highest level of security and privacy.

R3’s partnership with AWS is a positive step as R3 has been involved in a legal battle over an unfulfilled token purchase agreement with the currency exchange network, Ripple.  The result of recent ruling thinned the chances of R3’s victory.

With such a step taken by AWS, there is a slight possibility that Amazon might decide to accept Bitcoin. Rumors have come and gone, but nothing has been announced officially. As Overstock, Amazon’s largest competitor in the online retail business, already accepts the payment in the form of cryptocurrency, AWS’s partnership with R3 might make Amazon more crypto-friendly in future.