Amazon has launched a service on the blockchain, the CFTC explains what smart contracts are. The blockchain will be applied in elections in South Korea.
Amazon has announced the launch of a cloud service to develop blockchain applications. It allows customers to create their own transparent databases. Moreover, scalable networks can be used by ordinary users who are not familiar with the basics of programming.
The Amazon Managed Blockchain platform is already available for testing, and each company will be able to register on it and start using it. In this case, the developer allows you to integrate the solution into your own blockchain, Amazon Web Services (AWS). It already has several large corporations, such as Netflix and others.
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The Commodity Futures Trading Commission recalled that smart contracts are subject to financial laws. The CFTC has released a handbook that details the instrument.
However, the document is not in the form of instructions for the use of smart contracts. Rather, it is a description of the capabilities of the instrument. It is a basic guide for investors, which will allow you to understand the attitude of the department to the new opportunities of the blockchain. The manual was developed in conjunction with the agency LabCFTC, which is engaged in the study and promotion of new technologies in the US market.
The South Korean government will test the blockchain capabilities in the election procedure. The Internet Security Agency of the country will begin test use of the system next month.
Citizens will be able to cast their votes using a mobile phone or computer, but this is not the most interesting.
More importantly, everyone can observe the procedure in real time. This will give an absolute guarantee that their stated wish will be fair. However, this is not the first case of the use of the blockchain in elections. Similar systems have already been used in Spain and in Thailand.