Amazon has introduced a new way for anyone to create blockchain-based apps through its new service Amazon Web Services (AWS) Blockchain Templates.

Blockchain enables applications where multiple parties can record transactions without the need for a trusted, central authority to ensure that transactions are verified and secure by establishing a peer-to-peer network where each participant in the network has access to a shared ledger where transactions are recorded. These transactions are, by design, immutable and independently verifiable, which makes the technology especially attractive for accountants and firms which handle sensitive financial information, usually at a high volume.

Interested parties can launch a blockchain based on either a Ethereum (either public or private) or Hyperledger Fabric (private) network “in a matter of minutes and with just a few clicks,” said AWS vice president and chief evangelist Jeff Barr in a blog post for Amazon. To see step-by-step instructions on how to get started, view the blog post here.

“Some of the people that I talk to see blockchains as the foundation of a new monetary system and a way to facilitate international payments. Others see blockchains as a distributed ledger and immutable data source that can be applied to logistics, supply chain, land registration, crowdfunding and other use cases,” Barr wrote. “Either way, it’s clear that there are a lot of intriguing possibilities and we are working to help our customers use this technology more effectively.”

Sign at fulfillment center in Hemel Hempstead, U.K.
A sign at an fulfillment center in Hemel Hempstead, U.K. Chris Ratcliffe/Bloomberg

There is no additional charge beyond an AWS membership to start using the Blockchain Templates, but users have to will have to pay for any AWS resources needed to run a blockchain network. To begin using the service, visit the AWS "Getting Started" page.

For more information, visit the AWS Blog, AWS Blockchain Templates webpage, and AWS Blockchain Templates documentation.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access