Technology solutions are increasingly available as rentable, cloud-hosted services. Infrastructure as a service (IaaS), for example, offers enterprises the ability to rent technology infrastructure that is based on a remote server farm. While never owning the underlying equipment, companies have substantial control over the infrastructure plus access to the supplier’s knowledge and resources. Many IaaS arrangements will also include the provision of extensive infrastructure management and support. Similarly, blockchain as a service gives enterprises the ability to rent blockchain infrastructure in the cloud. In other words, the hardware and software required to run blockchain applications are fully provisioned, extensively managed, and hosted by the service provider. Many of the well-known cloud service providers are offering BaaS.
While Blockchain is not a new technology, enterprise operations are still finding it difficult to get the right resources in place to take advantage of what blockchain has to offer. Renting blockchain infrastructure in the shape of BaaS allows technology managers to instantly acquire much of the skills required to operate blockchain infrastructure. Simultaneously, the investment required to dabble in blockchain is substantially lowered: a BaaS service agreement can be scaled or completely terminated at short notice. As a result, CTOs have a way to test the benefits of blockchain without spending large sums up front or committing to permanent hires. It provides a way forward for enterprises that want to stay at the bleeding edge of technology without taking on unnecessary risks.
It is rapidly coming to light that, aside from providing the infrastructure for cryptocurrencies, blockchain stands to deliver commercial benefits in terms of cost and efficiency. Blockchain also has an emerging role in boosting transaction transparency which can be a thorny issue. Here are some of the real-world applications that can be tested and hosted on BaaS platforms:
Contact us to find out how blockchain can deliver benefits for your operations.
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