There are countless use cases for BaaS in business. In this chapter you will learn how to analyze your own use case and how to determine whether your proposed application is right for blockchain and/or BaaS. We will also review five real-world use cases in Chapter 6. We’ll also define the three most critical components of a blockchain network (participants, assets, and transactions), discuss smart contracts and how they are crafted, explore ways to put the right programming team in place, and examine when and why your organization might consider building its own BaaS.
Participants, Assets, and Transactions
Analyzing your use case is the first step in determining whether or not a certain technology is the right solution for your business. A great way to begin this process for blockchain applications is to determine the participants, assets, and transactions for the case. In Figure 3-1, you can see these three basic elements and how they interrelate. Information about participants, assets, and transactions is very helpful when providing project requirements to a developer, along with the business logic that will drive your smart contracts.
Figure 3-1. Identifying participants, assets, and transactions for your use case is a first step in planning your blockchain network.
Participants
Participants are the people and systems generating transactions ...
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