Amazon Web Services (AWS) is integrating its Managed Blockchain platform with its cloud storage service.
Amazon, the e-commerce company that needs no introduction, is partnering with Legal & General, an insurance agency based in the United Kingdom, to build a blockchain network for “corporate pension deals,” reports Reuters. Blockchain-based annuities Legal & General are taking advantage of the blockchain system put in place by Amazon Web Services. The goal is to use this network to handle annuities, pension schemes, and more. Thomas Olunloyo, CEO of Legal & General Reinsurance spoke on the matter: “The long-term nature of annuities business as it allows data and transactions to be signed, recorded and maintained in a permanent and secure nature over the lifetime of these contracts, which can span over 50 years.” According to the publication, Legal & General is using the blockchain platform for services outside of its main areas of work, the United States and the United Kingdom. However, if things go well here, the group would be more than happy to move the blockchain over to its primary markets. The General Manager at Amazon Managed Blockchain at Amazon Web Services Rahul Pathak commented on the partnership…
Cryptocurrencies are faring very well this year. However, they are still lacking something very important: something to push their prices to the stars. The so awaited Bitcoin exchange-traded fund (ETF) is simply not here and even Facebook Coin seems to be away in the future, so what can this big news that will awake the bull be? Amazon accepting cryptos.