Blockchain-as-a-service : the effect of cloud computing and vice-versa

Abstract

A Blockchain is a distributed database or ledger of validated and verified records of transactions and exchanges executed between shared parties participating in the chain. Blockchain is intrinsically the technology that enables decentralized cryptocurrencies like Bitcoin and Ethereum. Recently, Public Cloud providers like Microsoft (Azure), Amazon (AWS) and IBM have moved to provide service platforms to enable enterprises, governments and consumers to build and deploy secure Blockchain networks. From common themes like: cost, performance, scalability, identity, privacy and security, this thesis aims to qualitatively evaluate the effect of block chain technology on public cloud offerings, and vice-versa. A Cloud environment is not necessarily needed to participate in a blockchain. However, the use of cloud computing makes participation much easier and seamless than conventional, on-premise solutions. A blockchain networks a large number of nodes, and is only as strong as its weakest link. Cloud computing helps to address potential issues of scalability, security consistency and performance. In evaluating the role of the Cloud in the ease of blockchain integration, this thesis would also address areas where concerns like cost could help drive more dynamic cloud offerings, and where the Cloud could play a part in driving blockchain adoption.