Blockchain-as-a-Service: the most effective way to implement blockchain in companies3 min read

Blockchain technology is possibly the most important disruption of the last decade in the business world. It allows transactions to be recorded permanently and immutably within a decentralized network, which uses a distributed registry, meaning that all participants own the information and that it is chronologically linked by means of a hash or cryptographic code.

 

We can say that the use of blockchain technology is currently the most effective way to ensure security and transparency in any process by generating immutable digital evidence.

 

What is Blockchain-as-a-Service (BaaS) and why is it interesting for companies?

The models based on the provision of services in the cloud, the so-called “as-a-Service“, have managed to make the adoption of the technology simpler and safer for companies that cannot afford complex and expensive investments and developments to digitally transform their businesses. Solving what is possibly one of the main problems for its mass adoption, the scarcity and cost of expert professionals in this technology, the Blockchain-as-a-service model helps companies to focus on their business, allowing them to use the technology access services for a monthly fee and without worrying about anything. This concept makes things easier and frees inexperienced developers from arduous maintenance and security tasks.

BaaS joins other terms such as IaaS (Infrastructure as a Service), PaaS (Platform as a Service) or the best known, “Software as a Service”, SaaS. Blockchain as a service offers great advantages: cost savings, ease of use and rapid implementation.

 

Blockchain as a service

 

This model works as a “black box”, which takes care of the configuration and infrastructure management of the entire technology layer: operations management, network management, bandwidth, wallets, tokens, HW resources, technology upgrade, etc.

BaaS is the catalyst leading to wider and deeper penetration of blockchain technology across industry sectors, bringing various benefits:

  • Digitization: when data is based on blockchain technology, users with permission can have remote and immediate access to documents or transactions. This digital and decentralized access creates an auditable, immutable and transparent footprint.
  • Cost savings: the digitization and automation inherent in blockchain improves operational efficiency, generating lower compliance costs and regulatory coverage.
  • Lower operational risk: as a decentralized and incorruptible process, blockchain reduces operational risks for companies. It enables the automation of processes thanks to smart contracts, with which transactions can be programmed and encrypted.
  • New services launching: with simple and inexpensive access to technology, companies can quickly create and validate new services and/or products that bring value to their customers.

 

iBS: the future of BaaS platforms.

A key step before contracting a BaaS service is to choose the right provider, since the vast majority of current solutions on the market are oriented to large enterprises (Microsoft Azure, Amazon Managed Blockchain, IBSM Hyperledger, Oracle, ….) with long integration times and learning curve, high costs and no defined use cases. This is where iCommunity’s iBS platform makes the difference.

iBS democratizes access to blockchain technology, bringing it closer even to small and medium enterprises. In iCommunity we provide a whole ecosystem of validated use cases, so that any company, agency or freelance professional can implement them in their business, without knowledge and in a very economical way. In this way iBS offers different subscription packages according to the needs, being accessible to all budgets. This is possible thanks to the fact that IBS’s hybrid technology is able to reduce the cost of registrations to fractions of cents.

 

Do you want to apply blockchain in your business?

Get in touch with our experts and take advantage of the welcome offer of 2 months free, plus consulting to identify the use case that brings you the most value.

The use of blockchain in business is unstoppable and will soon become part of standard procedures in all industries. In the meantime, only companies that have started to innovate are capitalizing on the advantages and potential it offers in terms of trust, efficiency and security.

2023-09-13T11:13:20+02:0021 de June de 2023|Blockchain use cases, iCommunity products|
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