CHICAGO, Oct. 08, 2015 (GLOBE NEWSWIRE) -- India Compute Interchange (ICIx), which has launched a financial market place for government organizations, state-owned and private companies in India to trade compute resources, has been named a finalist in the Amazon Web Services (AWS) City on a Cloud Innovation Challenge.
Through the City on a Cloud Innovation Challenge, AWS recognizes local and regional governments and developers that are innovating for the benefit of citizens using the AWS Cloud. The finalists were announced at the AWS re:Invent conference in Las Vegas, United States on October 7, 2015.
ICIx is a joint venture between Universal Compute Xchange (UCX), Chicago and SCAD Consultants, India.
"ICIx will enable organizations to buy and sell compute processing power as a utility," ICIx Chairman Dr. Bharat Swami said.
“ICIx brings enterprises, government ministries and cloud service providers together to engage in price discovery, trade execution, and the physical delivery of compute resources providing operational agility and capital and market efficiencies never seen before,” Dr Swami said.
ICIx will trade “WAC” Financial Products based upon the only patented metric for measuring IT Infrastructure usage, the Workload Allocation Cube (WAC) algorithm. WAC provides a means to benchmark, compare, and optimize software costs and by extension, operating margins. It gives cloud service providers and customers the ability to trade transparently and seamlessly.
The WAC unit comprises six compute resources: CPU, Memory, Storage, Disc I/O, LAN I/O and WAN I/O. It is the commercial standard to quantify supply and demand of compute resources and of measuring the consumption of compute processing, just like Watt is the measure for consumption of electricity.
“I would like to extend my congratulations to the City on a Cloud Innovation Challenge finalists,” said Teresa Carlson, Vice President Worldwide Public Sector, Amazon Web Services, Inc. “This competition highlights the many ways that state, local, and regional governments are becoming hubs of technological innovation around the world. These finalists are a great example of how the cloud is delivering the next generation of citizen services and making the business of government more efficient.”
At a time when the Government of India has launched a "Digital India" initiative to take computers and the internet to the remotest villages in the vast country, ICIx has been engaged in educating end users on the importance of the WAC standard. It will also go a long way in achieving the Government's goal of a "Green India" by reducing the need to have extra servers and racks and, thus, reduce electronic waste.
WAC has been developed by 6fusion International, which has formed 6fusion Online India Pvt Ltd in conjunction with ICIx.