Chinese division of AWS partners with public blockchain Qtum. The Chinese division of Amazon Web Services(AWS) decided to partner with Qtum, a public blockchain.
This partnership is at building Blockchain-as-a-Service for developers and enterprises. The partnership also revalidates Qtum’s market capitalization of $325 Million, making it the 29th largest cryptocurrency in the world.
This partnership will allow AWS users to develop smart contracts more quickly and efficiently, while simultaneously reducing costs. How will this be done, do you ask? The Qtum team in a press conference revealed the answer. This will all happen through Amazon Machine Image. The head of territory business development, AWS in China confirmed the same information.
Qtum has raised around $1Million in funding from various investors around the world. This includes Anthony Di Iorio, OKCoin CEO Star Xu, BitFund founder Xiaolai Li, and Fenbushi partner Bo Shen. With financial backing acquired, Qtum went on to later become a public blockchain.
Ever since Qtum was listed by AWS’s marketplace, Qtum is looking for a broad technological relationship according to Qtum’s marketing director John Scianna.
Amazon provides technical, sales, and marketing solutions to its network partners in order to expand its business and customer services. Qtum and AWS will work collaboratively to obtain feedback from customers. Also, use cases that are in most demand and later use this data to help software developers who are resource-constrained.
The Chief Technological Officer of Qtum, Mike Palencia reportedly 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 contact with companies who have those use cases,” Palencia continued: “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.”