Not to be affected by the next economic downturn,Amazon is making its way to web3. In the first week of February, AWS announced the hiring of senior web3 specialists for the “growing adoption of web3 workloads on AWS,” Analytics Insight reports.
The global downturn has brought AWS to one of its lowest levels in years. In Q4 2022, AWS revenue reached $21.4 billion, but the growth rate was slower compared to the 21.5% and 33% seen in Q3 and Q2, respectively, which was a serious cause for concern.
During Amazon’s earnings call, CEO Andy Jassy noted that the key to improving AWS revenue is using technology more effectively and finding ways to help customers spend less money.
The official website mentioned that AWS has built tools for blockchain companies that want to run “centralized ledger databases that maintain an immutable and cryptographically verifiable record of transactions, or a multi-party, fully-managed blockchain network that helps eliminate intermediaries”.
Amazon’s moves in the web3 space is already seeing pay back in the space with a quarter of all Ethereum nodes running on AWS servers. AWS is also enmeshed with blockchain in other ways – the website stated that a quarter of all Ethereum nodes run on AWS servers themselves.