Blockchain-as-a-Service (BaaS) blockchain service is expected to have a $7 billion market

The development of the blockchain is still in the air, but the cloud provider is ready to offer it as one of the enterprise service projects. This also helps these companies to spend no extra cost to build a new internal service architecture or hire developers to develop and maintain it.

Companies such as Amazon, Microsoft and Oracle will gain financial gains by providing Blockchain as a Service (BaaS), a market that finds ways to use decentralized ledger technology without spending a lot of money. fast-growing.

According to Kash Rangan, a research analyst at Bank of America, if there are only 2% of servers acting as blockchain nodes, the BaaS market will reach $7 billion.

In a report to investors yesterday, Rangan rated nine companies as the best place in the BaaS movement trend. In parallel with Amazon, Microsoft and Oracle BaaS vendors, Rangan ranks IBM, and VMware as leaders in the field. He also said that real estate/mortgage companies with blockchain-based online services, such as Redfin, Zillow and LendingTree, would also benefit. The service of these companies is to digitize the transfer of property.

[ Read more:  How to decide whether to deploy blockchain  ]

As companies seek to deploy decentralized ledger technology, the industry’s largest IT provider has begun preparations for providing BaaS blockchain services as a way to provide enterprise blockchain technology testing without having to deploy it internally. The cost or risk of an internal developer who does not need to find hot demand. Which are in hot demand.

Bill Fearnley Jr., director of strategy research for IDC’s world blockchain, said: “It’s important to consider that we are still in the early stages of this blockchain wave.” “Few people have years of deep practical experience.”

Adoption is growing fast

2015 the year, Microsoft has its Azure cloud platform, becoming the first to offer BaaS one software vendor ( One of the offer at The First Software vendors to BaaS ) . Azure service block chain open to various protocols( A Variety of blockchain Protocols ), , from simple support Unspent Transaction Output-based protocol ( UTXO), like Hyperledger; to more complex intelligent contract-based protocols, such as Ethernet Square; further There are other protocols under development, Microsoft said.

Basically Azure supports decentralized ledgers such as Ethereum , Hyperledger Fabric , R3 Corda , Quorum ,Chain Core and BlockApps .

” BaaS on Azure provides services such as smart contracts and other third-party applications, and as Azureadds functionality, the technology of using blockchain on it benefits, ” Rangan said.

In 2017 , IBM introduced blockchain services, and has since gained access to some of the largest enterprise supply chain deployments, including Maersk and Wal-Mart. ( 9 month, Wal-Mart asked its suppliers to their product data input IBM Food Trust block chain, the retailer has been used to track the block chain from 10suppliers in 25 kinds of food.)

Original link: Blockchain-as-a-service predicted to be $7B market

Transfer link: Blockchain to generate more than $10.6B in revenue by 2023

Leave a Reply

Your email address will not be published.