SAP, the enterprise IT solutions provider has officially become part of the blockchain bandwagon after it announced the launch of its Blockchain as a Service (BaaS) offering. The company, which recently joined the Hyperledger project alongside IBM, Intel and other big technology, financial and banking institutions introduced the new solution at a recently held annual Sapphire event in Orlando, United States.
The “comprehensive digital innovation system” by SAP is capable of harnessing multiple new-age technologies for the benefit of businesses that are adopting it. The Blockchain as a Service platform will be part of SAP Cloud, which makes it easier for clients to remotely access the service without worrying about the infrastructure costs otherwise involved.
As expected, SAP’s blockchain solution is based on Hyperledger open source blockchain platform. It is designed to seamlessly integrate with other emerging technologies like machine learning and Internet of Things to create a single ecosystem.
The leading technology giants have realized the increasing interest in blockchain technology among businesses of all sizes. In order to cater to the rising demand, and to make the implementation easier, they have started offering blockchain infrastructure as part of their Cloud services offerings.
Hyperledger Project, a collaborative open source blockchain initiative by Linux Foundation has received a lot of traction. The inclusion of leading technology, banking, and financial institutions has accelerated the development of distributed ledger technology for various applications.
IBM, another Hyperledger member, has joined forces with a number of companies and startups to develop distributed ledger solutions jointly. Some of the notable collaborations include the ones with Maersk, Mitsubishi UFJ, Invictus, and others.
SAP’s new Blockchain as a Service offering could benefit a great deal for companies that are already using its ERP solutions, as they look forward to implementing distributed ledger solutions for data storage, management, and other applications.
Ref: CNBC | Image: NewsBTC