Amazon & Microsoft's Move to Blockchain: Centralized Companies Into Decentralized Ecosystem

These companies are in some manner getting forced towards blockchain technology as it has become apparent that this is the future, and even though it goes against their centralized values, they simply cannot miss out.

Microsoft has obviously identified the power of blockchain and its far reaching potential for disruptive applications in the world of enterprise business.

Microsoft is also looking to build platforms on which businesses can grow their blockchain applications upon, such as the Confidential Consortium Framework, an Ethereum-based protocol, which falls under Microsoft Azure, the company's cloud computing arm.

The latest from the computing giant is that Azure has released its blockchain app creation service, Azure Blockchain Workbench, on May 7.

Essentially, users would be able to create their own blockchain applications via the Amazon Web Services CloudFormation Templates tool to avoid time-consuming manual setups of their blockchain network.

Major companies are also jumping on the blockchain bandwagon in different easy, shapes and forms.

Neil Patel, advisor to Kind Ads, a decentralized ad-network that consults companies such as Amazon and Microsoft, reiterates that these major corporations almost have no choice but to embrace blockchain technology as it is being regarded quite openly as the future of technology.

"Microsoft and Amazon have no choice but to focus on blockchain because it is the future. If they don't, they know that it will hurt their growth in the cloud computing space. Just look at Facebook, they see the value in blockchain so much that they moved around their executive team to put the ex president of PayPal on blockchain projects."

The Head of Microsoft is in a similar situation as he says he would bet on Bitcoin collapsing while his company pushes to be a blockchain leader.

Google, Oracle, Microsoft, IBM and Amazon are all evaluating or offering blockchain related products.