Because of Bitcoin and Ethereum, most people have heard of Blockchain. Enterprises can use this technology to automate, secure, and improve workflows. But most companies don’t know how to use Blockchain. Therefore, companies like Amazon and IBM offer Blockchain as a Service.
Why should companies use Blockchain?
One of the biggest benefits of Blockchain is the decentralized stored data. So with this system, we can decrease failure while we can increase the availability. You can also view all transactions in the network. This makes them safe and usable anywhere in the network. When a new booking is created, the blockchain, the register with all bookings, is updated on all participating computers. So all computers are always up to date. Therefore hacking the system is practically impossible because frauds on all other devices immediately attract attention.
Blockchain as a Service explained
Blockchain as a Service or short BaaS allows customers to use cloud-based solutions that help to build, host and use their own Dapps, Smart contracts, and functions on the blockchain. At the same time, the Blockchain as a service provider manages all the necessary tasks and activities to keep the infrastructure running. So you don’t have to worry about anything.
So with Blockchain-as-a-Service, companies can create their own currencies and use them to pay for services. Once a blockchain service is in place, companies can use the feature in a variety of ways, such as smart contracts.
So Blockchain as a service enables companies to implement their own billing system, which can be used for micro-payments and logistics. Companies like Amazon, IBM and Microsoft already offer this service. Blockchain enables fast and almost fee-free payments between companies and customers or suppliers. So the solution must not only be available internally but also for the customers or partner. In most cases, the internet is used here.
Blockchain as a Service provider
Building a service infrastructure is quite easy. Service providers like Amazon or Microsoft automatically create and configures all necessary resources with the Blockchain. Many service providers rely on Ethereum technologies as well as Hyberledger Fabric. The most popular Blockchain as service providers are Amazon, Microsoft, IBM, Oracle, HPE and SAP. It is an open source technology that is embedded in the service infrastructure. Companies like Walmart, Nestlé and a lot of banks are using BAAS.
Amazon, for example, uses AWS Blockchain templates to provide pre-built capabilities that help businesses quickly and easily create blockchain networks, even in the Amazon cloud.
Oracle also provides blockchain technologies in their Oracle Cloud. Here you can also create everything via an assistant quick and easy. Oracle Blockchain Service enables the integration of different technologies and you can use it internally an externally, or together with suppliers.
How to use Blockchain as a Service?
Most providers have services that allow you to choose what you want. It can be a virtual machine, containers, storage, identity management, and more.
A wizard combines and configures all the resources you chose. After your services are configured you can use them immediately. Because Blockchain as a service is a hybrid network that also uses cloud capabilities you are able to use the Internet for most functionalities.
Blockchain Service – Conclusion
Meanwhile, a lot of companies work with Blockchain. Big tech giants such as IBM, Microsoft, Amazon, SAP, Oracle, and HPE provide capabilities to create your own blockchain currency in the cloud. Because of that, you don’t have to provide your own infrastructure. You can just use the functions in the cloud.
As a result, solutions in the cloud are often more secure and scalable. So this might be awesome to get your business to the next level.