Amazon Web Services China Partners With Qtum for Blockchain as a Service (BaaS)
Amazon Web Services Partners With Qtum Blockchain In China
QTUM, a Singapore based decentralized application, is partnering with public blockchain project Qtum. The partnership sees the on-demand cloud computing giant working with a cryptocurrency project with a $325 million market capitalization, making it the 29th largest crypto, to develop blockchain-as-a-service (BaaS) solutions for enterprises and developers.
The association will allow AWS users to develop and launch smart contracts “quickly, efficiently, and cost-effectively” using an Amazon Machine Image (AMI), according to a press release issued by the Qtum team. Under the partnership, Qtum and AWS will work together to get feedback from customers about the use cases most in demand and provide guidance to those clients that don't have much software development resources themselves.
Simon Wang, head of territory business development at AWS China, confirmed the partnership, telling:
“Qtum is now an AWS technology partner and one of the partner network members.”
As Ethereum and Bitcoin work hard to iron out their individual issues concerning governance, economics, and security, Qtum continually refines their Proof of Stake platform. By incorporating the best parts of both Bitcoin and Ethereum, Qtum is a secure smart contract solution representing what could eventually be the next phase of blockchain.
The CIO of QTUM foundation, Miguel Palencia said:
“We are going to work together [with Amazon] 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.” Adding: “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, raised $1 million last January from investors including Anthony Di Iorio, OKCoin CEO Star Xu, BitFund founder Xiaolai Li, and Fenbushi partner Bo Shen, launched its public blockchain a year ago.
The company recently released its x86 virtual machine, which will propel its value proposition over Ethereum by welcoming developers who code in any language. It has also encoded segwit by default, opening up interoperability with the Lightning Network (a cross-blockchain efficiency protocol). Qtum plans to launch QtumX in 2019, which will help major corporations take advantage of optimized smart contract automation, effectively welcoming the “mainstream” to blockchain.