Hyperledger has added 16 new members, including Deutsche Telekom, Europe’s biggest telecommunications provider and Alibaba’s cloud computing subsidiary.
The IOSToken (IOST) project is making major strides with the recent partnership with Alibaba Cloud’s computing company in Japan known as SB Cloud. The latter was co-founded by one of Japan’s largest Telecom Operators, Softbank, and Alibaba.com. SB Cloud’s main aim is to provide cloud computing services and solutions for Japanese Companies. The company also caters for start-up and Multi-national companies in the country.
IOST Co-founder, Sa Wang (second from left) and SB Cloud Director Yao Meng (left one) and other executives. Source, IOST
This is why the partnership is significant in that IOST will have a platform to showcase blockchain technology on the cloud. Blockchain and cloud computing is a recent on-demand trend that many companies are exploring. Another company adopting the trend include American cloud computing giant, Amazon Web Services (AWS), that launched Blockchain Templates back in April. The aim of AWS in this endeavor, is to make it easier for developers to create blockchain projects by using pre-set frameworks on AWS that support both Ethereum’s and the Linuz Foundation’s Hyperledger Fabric.
The reason for this AWS analogy, is to relay the magnitude of the SB Cloud and IOST partnership. SB Cloud will provide IOST’s blockchain technology and products to the business enterprise users it serves. By having blockchain technology on a cloud computing platform, users will have access to a flexible, cost effective avenue to quickly launch and use IOST’s blockchain technology in a short period of time.
IOST blockchain technology can not only help traditional industries solve the pain points of IT construction effectively, but also save time – as earlier mentioned – and cost. IOST blockchain technology will also solve the waste caused by equipment expansion since the network is decentralized. Another benefit of decentralization, is that IT equipment failure, will not affect the entire network as was seen with the VISA services outage in Europe just a few days ago.
This is why the partnership between IOST and SB Cloud will be a powerful combination of blockchain and cloud computing technology to the level of competing with AWS. With the partnership, IOST will also have a ready launchpad to expand in Japan: a country known to have over 3.5 Million cryptocurrency traders and HODLers.