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Amazon Seems Most Demanding Company For Blockchain

According to Avivah Litan, businesses are not enjoying the advantage of the disruptive potential of the blockchain. However, they are embracing the realization of this tech.

Avivah Litan is an analyst and Gartner VP along with being a researcher. She publishes some notes regarding assessing the “Optimal Blockchain Technology” for certain use cases. Moreover, Gartner is set to publish these notes within the next two weeks.

Litan mentions that 40 percent amongst the projects are now using permissioned blockchains. However, they will reveal the benefits of blockchain’s unique aspects including decentralization by 2021. Furthermore, certain projects should start using permissioned blockchains by 2021.

Though it still looks in a preview mode, having a couple of customers, instead, QLDB realizes how many of them are using blockchain tech. They are even aware of what they want out of immutable audit trail. She adds:

That’s where business is going in the blockchain. Over 60 percent of use cases are just using the immutable data audit trails.

Already, Amazon is using QLDB internally. Similar to a blockchain, the product provides cryptographically verifiable information trails; however, it seems under control by AWS. On the other hand, it makes it simpler and easier to scale.

Gartner believes that technology including AWS QLDB needs to initiate at least 20 percent regarding DLT use cases. However, it is not just Amazon which holds the potential of distributed ledger game. Litan also mentions about other tech giants including Google, as they create a similar hold considering the DLT market.

It’s not in the spirit of blockchain, she says, pointing to its centralization, but what we’re finding out is the spirit of blockchain is not taking hold as much as this immutable data audit trail.

There are many enterprises that tend not to rely on trust-free use cases regarding blockchain. In the future, these enterprises end up applying permissioned blockchains which holds all kinds of rules for users.

Meanwhile, they should take the entire advantage of smart contracts and the concept of tokenization. This is when they are really wanting out of the ledger to get immutable data. The centralized services including AWS QLDB are already offering this service with more scalability. Gartner finds less need for technical base understanding regarding blockchain technology, which currently many executives are not clear about.

Ultimately, Litan says inquiring enterprises “can’t think of use cases that really need blockchain.”

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Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency.In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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