The partnership sees the on-demand cloud computing giant working with a cryptocurrency project with a $325 million market capitalization, making it the 29th largest cryptocurrency, to develop blockchain-as-a-service (BaaS) solutions for enterprises and developers.
The partnership will allow AWS users to develop and launch smart contracts “quickly, efficiently, and cost-effectively” using an Amazon Machine Image (AMI), according to a press release issued by the Qtum team.
Based in Singapore, Qtum, which raised $1 million last January from investors including Anthony Di Iorio, OKCoin CEO Star Xu, BitFund founder Xiaolai Li and Fenbushi partner Bo Shen, launched its public blockchain a year ago.
Qtum’s AMI was listed on the Amazon Web Services marketplace in July, and since then, the group behind the cryptocurrency has been moving toward a full-scale technological partnership, Qtum’s marketing director, John Scianna, said.
The two companies have been discussing this since April, he added.
Under the partnership, Qtum and AWS will work together to get feedback from customers about the use cases most in demand and provide guidance to those clients that don’t have much software development resources themselves, Mike Palencia, Qtum’s chief information officer, 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 a contact with companies who have those use cases,” Palencia said. “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.”