Why Should You Look Into #Blockchain As A Service (BAAS)?

Quick note: This article was originally published by 101 Blockchains

See more #PowerofIdeas coverage on the 101Blockchains LinkedIn page.

Blockchain As A Service is a unique product from where the consumers can use the cloud-based solutions to build, use and host their blockchain solutions, functions, and smart contracts. In short, these offer fully functional blockchain platforms according to your needs.

Blockchain As A Service companies are kind of like a bridge between the enterprise blockchain platform and the enterprise companies. Typically every enterprise might need more tweaking up than the originally developed platform.

Because usually, these platforms offer a generalized version of blockchain technology and frankly, not all companies can integrate this platform.

Some of the enterprises may need more privacy, and some may don’t. But tweaking the platform up with their very own development team might not be the ideal solution. Furthermore, developers who never developed or worked with blockchain platforms will leave a lot of security loops, and in the long run, it will harm the company itself.

That’s why many blockchain giants offer solutions through another Blockchain As A Service companies.

Blockchain As A Service: Simply Explained Infographic

Companies using BAAS services

• CLS Group: CLS is getting Blockchain As A Service solution from IBM to power its payment netting solution. 
• Food and Drug Administration (FDA): the solution helps them get a 360° idea of what the patient is dealing with.
• Insurewave
• Bühler
• CargoSmart: Shanghai International Port, PSA International Pte Ltd, Hutchison Ports, DP World, Yang Ming, OOCL, Evergreen Marine, COSCO SHIPPING Lines, and CMA CGM.
• NitiAayog
• Healthdirect Australia: is a public health information service provider. They offer national citizens free health helplines and online platform to know about health-related advice. Moreover, they are the healthcare information infrastructure in Australia.
• The Guardian Life Insurance
• MasterCard, Amazon Web Services, Everledger and Mercy Corps
• DHL: DHL is using the Blockchain As A Service solutions to fuel their blockchain based logistics application. At present they are collaborating with Accenture to provide them with full technical support
• Naturipe Farms
• Boehringer
• London Stock Exchange Group
• ANZ, Westpac and Scentre Group
• TenneT
• UBS
• Sompo Japan Nipponkoa Holdings Inc.

How Does BAAS Work?

Blockchain As A Service works relatively simple way. The Blockchain As A Service providers will set up your blockchain implementation, but you’ll need to give them a fee. So, for paying for the Blockchain As A Service, you’ll be actually paying the Blockchain As A Service providers to deploy and maintain your blockchain nodes instead of them.

Furthermore, this process requires the Blockchain As A Service providers to handle the back-end services specifically the complex services for their business and clients.

Moreover, the Blockchain As A Service providers take care of the important blockchain technology artifacts and keep them running up. Furthermore, they also include hosting requirements, security protocols such as anti-hack layering, suitable distribution of resources, bandwidth management and many more.

So, when you are using the BAAS solutions, you will be able to focus on the core business rather than worrying about the network statistics and performance issues.

Blockchain As A Service: Enterprise-Grade Solutions - one in all in.. #BaaS #Blockchain #FinTech

Author: HASIB ANWAR

Read the full article here: https://101blockchains.com/blockchain-as-a-service/#prettyPhoto