The VeChain platform, self-described as one of the leading enterprise-friendly platforms of the world, has launched a new solution for companies on Amazon Cloud. The company is offering a solution to corporate customers who want to create their own decentralized applications (dapps) on Amazon Web Services (AWS) Cloud.
— VeChain Foundation (@vechainofficial) February 18, 2019
VeChain offers a solution called Blockchain as a Service (BaaS), which was created back in 2016. The solution originally had encryption powered by the distributed ledger technology, Internet of Things support and the ability to verify identities. Clients from many areas used it, including very high-profile companies like BMW and DB Schenker, BrightFood and others.
The New Solution
According to the official report of the company on its blog, this new solution will be “one-click solution” and will be offered on AWS CloudFormation for the development of decentralized apps. In order to run it, the company made a partnership with many areas from Amazon: Amazon EC2, Amazon RDS and Amazon CloudFront.
This is not all as AWS Partner Network is also involved in the project to offer support with the business operations, marketing strategies and to help in the technological development. This makes the partnerships of the company to be with four different segments of Amazon.
VeChain has also affirmed that this new product is being created to be very easy for corporations to use and completely compliant with all the necessary protocols to be used widely. By doing this, the company will ensure that the customers will completely eliminate the problems of using similar software, which is very often cumbersome.
DNV GL is being the one responsible for solving all the compliance issues and providing the system architecture for this business solution. The company is also responsible for managing the risks of the project and assure its quality. DNV GL was a good pick because it was a company with a lot of experience and it was founded in 1864.
Gu Jialiang, the CTO of VeChain, has announced that it is important to deploy this kind of service in such a space like AWS because it is currently the world’s leading cloud service platform and not only it has extensive security compliance certificates, it is used all over the world.
About VeChain (VET)
At the moment, Vechain (VET) is trading at $0,0043 USD each token and it has a total market cap of $241,424,874 USD, since it has a lot of tokens (or they would not be sold for less than a penny each). This puts VeChain on the 24th position among other tokens.
The announcement had an impact on the price of the VET tokens, which are now valued at 8% more than they were in the last 24 hours at the time of this report.
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