The business sphere is overcrowded with enterprises that are all set to implement their blockchain strategies. After all, not directing toward Blockchain would be an unwise act which can put many businesses into grave danger. Hence, they have geared themselves up to adopt various applications of Blockchain Technology after going through a profound phase of estimation and analysis to assess its pros and cons.
There is a definite upside to embracing this spectacular invention, however, there is a line of risks involved in taking this step. As they say, there is no gain without a little loss. It is needless to say that introducing a new stack of technology is an already functional environment can lead to hacks, security contraventions along with data loss.
Hence, there is a bunch of questions spinning around the business. Do blockchain protocols own a secure level of maturity? Are they fine enough to be deployed in big-scale ventures? Are business leaders equally comfortable in using this new technology as they are with the older ones?
After giving it an in-depth thought, the top-notch BaasS providers have shown an inclination toward this unconventional technology. They are the biggest fans of Blockchain Technology which can act as a great service model for them. They already possess a significant customer base and seems rational for these cloud providers to bring Blockchain into their vicinity. Take a look at how this initiative is taking a profitable shape.
It is a commonly known fact that Microsoft is a leading BaaS provider in the market. Until now, it was dealing in Ethereum along with offering services for network fabrics in Hyperledger and R3’s Corda. Now, it has begun to invest in Blockchain technologies by contriving Azure Blockchain Service and the Azure Blockchain Workbench.
IBM plays a core role in maintaining source code for Hyperledger fabric and hence, is a major cloud service provider. Now, IBM has endeavored to become multi-cloud by opening IBM Blockchain 2.0 that can help you run fabric network over several cloud providers.
Amazon Web Services
The managed blockchain zone is controlled by Microsoft Azure and AWS is equal capacities. When it comes to choosing which one is better, it completely depends on your acuity. In case, you belong to the finance sector, Azure will go better with your needs while AWS is suitable for industries like insurance, healthcare, and related verticals.
The Blockchain platform produced by Oracle has based its solutions solely on Hyperledger Fabric. It might not be ideal, however, it offers well-ordered service, such as blockchain explorer, node provisioning along with enhanced security.
VMW made a profound study to analyze the problems with the present blockchain infrastructure. It is associating with Concord to solve these problems which is a trusted, scalable and efficacious infrastructure for smart contracts implementation and consensus.
These are the biggies of the BaaA market. There is also another line of service companies utilizing the blockchain to offer products which are based on the current cloud computing platforms. They can be perceived as smaller ventures. Organizations in this league are mostly startups that introduce new offerings every month. They encompass a wide array if Blockchain protocols and provide solutions that are vivid and vibrant.
In a nutshell, though the blockchain technology stack exhibits potential, there is still some time for it to take its mature form and become ready for mainstream enterprise acceptance.
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