Blockchain as a Service

Chapter 7. Summary: Using BaaS

Blockchain technology, an interconnected chain of tamper-resistant digital blocks containing transactional information and distributed to peers on a network, is revolutionizing the way that business is done. As we have covered in this report, the applications for blockchain are only limited by the imagination.

Create Living Partnerships

Implementing blockchain technology is a structured way to bring strategic alliances and partnerships to life, by developing smart contracts that automatically execute the predetermined business logic as transactions take place. Yet, you should exercise caution and be sure that it makes sense to use blockchain to solve the business problem at hand. Make sure that adding blockchain technology to an application actually enhances the workflow you are trying to improve or adds some valuable feature that benefits all participants—preferably one that clearly and quickly demonstrates return on investment.

BaaS and SaaS with blockchain offer fantastic opportunities for new alliances. Forward-thinking organizations from every industry all over the world, in both the public and private sectors, are taking a serious look at blockchain. New partnerships are forming from industry-focused consortiums, which are formalized through mutual statements of intent. Blockchain can bring to your organization increased efficiency, better customer service, and competitive advantage.

Consortiums

When you are performing transactions within ...