Blockchains are everywhere these days, and slowly they are taking over all the marketplaces. And why wouldn’t it? It offers a lot of applications that can offer a faster output than our traditional network system. But now with all the enterprises looking into blockchain is giving rise to a different kind of marketplace.
Blockchain as a Service or BAAS is another marketplace that’s a big part of the blockchain economy. If you think about it with so many demands of this new technology it was quite evident, wasn’t it? If you are among the blockchain enthusiast, who is looking for a good Blockchain as a Service option then you’ve come to the right place.
Today, we’ll dive deeper into the realm of BAAS and see whether it’s a good choice or a bad one. Let’s start the dissection!
Table of Contents
Chapter-1: What Is Blockchain as a Service?
Blockchain as a Service is a unique product from where the consumers can use the cloud-based solutions to build, use and host their blockchain solutions, functions, and smart contracts. In short, these offer fully functional blockchain platforms according to your needs.
Blockchain as a Service companies are kind of like a bridge between the enterprise blockchain platform and the enterprise companies. Typically every enterprise might need more tweaking up than the originally developed platform.
Because usually, these platforms offer a generalized version of blockchain technology and frankly, not all companies can integrate this platform.
Some of the enterprises may need more privacy, and some may don’t. But tweaking the platform up with their very own development team might not be the ideal solution. Furthermore, developers who never developed or worked with blockchain platforms will leave a lot of security loops, and in the long run, it will harm the company itself.
The blockchain is a service is a kind of interesting new marketplace because this marketplace is aiding the integration of blockchain. Furthermore, BAAS is also making it simple, and that’s why more companies are eager to learn and integrate the technology.
Other constraining factors are the operational and complex nature of the technology. Individuals want to adopt but the time and skill for operating, configuring and creating the technology become a deterrent for the mass adoption process.
That’s why many blockchain giants offer solutions through another Blockchain as a Service companies.
Blockchain as a Service: Simply Explained Infographic
How Does BAAS Work?
Blockchain as a Service works relatively simple way. The Blockchain as a Service providers will set up your blockchain implementation, but you’ll need to give them a fee. So, for paying for the Blockchain as a Service, you’ll be actually paying the Blockchain as a Service providers to deploy and maintain your blockchain nodes instead of them.
Furthermore, this process requires the Blockchain as a Service providers to handle the back-end services specifically the complex services for their business and clients.
Moreover, the Blockchain as a Service providers take care of the important blockchain technology artifacts and keep them running up. Furthermore, they also include hosting requirements, security protocols such as anti-hack layering, suitable distribution of resources, bandwidth management and many more.
So, when you are using the BAAS solutions, you will be able to focus on the core business rather than worrying about the network statistics and performance issues.
Let’s start with an example to clear it up. Start thinking the Blockchain as a Service similar to a web hosting company. So, you build a great website, which will get millions of hits every day. But where can you host it? Well, there are lots of options for you to that.
Furthermore, you can always host your website on your own server or computer and take care of the maintenance yourself. Moreover, you can hire additional staff that can look after the website. However, there’s another option.
In this one, you’ll go to a web hosting provider like HostGator or BlueHost, and they can host your website on their server servers. Moreover, you can also take maintenance services from them. So, they will take care of all the responsibilities.
Blockchain as a Service works exactly like this, but here you’ll also be getting a full running network from them.
Hyperledger Cello is a Blockchain as a Service toolkit. With this, you can easily launch your Blockchain as a Service solution.
BAAS might just be the best approach to ensure a mass adoption of blockchain technology across the globe. Moreover, businesses won’t have to hire a workforce to develop and maintain their solution. Furthermore, they can now get the best of the best blockchain solutions without any hassles.
A Competitive Marketplace
The Blockchain as a Service frontier is slowly becoming one of the crowded and competitive marketplaces in the world. Not only top BAAS companies but also startups even started to join the game.
Furthermore, with each addition, more and more innovations are taking over the marketplace: different partnerships, collaborations, new generation technology and many more. However, there are some significant reasons why enterprises don’t have enough backup still.
Usually, the permissioned Blockchain As A Service solutions mostly remains in the pilot phase. People are still experimenting with the technology. So even though there’s a lot of demands for the industry-specific blockchain technology, the output or the production of products remain in the low state.
That’s why industries can’t get what they need and using a generalized platform makes it even more worse. The limited production rate of permissioned BAAS remain low for two great reasons –
- Immaturity in Operation: Managing the full cycle of permissioned solutions will always be an expensive option. Moreover, the tools for scaling, monitoring and developing remains too complex and need skilled personnel to control them.
- Mission Critical Application: Many pilot projects focus on mission-critical and complex enterprise applications such as trading or supply chain management. While there’s no doubt that the Blockchain as a Service solution is perfect for these applications but replacing the existing network will also be quite tough.
In the current marketplace, permissioned Blockchain as a Service remains a need, and many use immature networks without even testing it out for that particular industry. Furthermore, this gives rise to loopholes and coding errors.
And so, the ability to come up with a new idea, experiment quicker and slow incrimination become an important factor in BAAS. Blockchain as a Service certainly wins for bringing the first enterprise exposure of blockchain.
Chapter-2: How To Choose a BAAS Platform?
Often when enterprises look for Blockchain as a Service, they typically make two types of mistakes. These are –
Rely on the Existing Cloud Provider
Maybe you already have a cloud provider that is backing up your internal networking system. However, running your blockchain solution on that cloud provider might be tempting, still not a good idea at all. Basically, the support the blockchain system needs is too much, and cloud providers can’t take that much load.
Also, these cloud providers have to change their technical aspects to make sure the blockchain solutions run smoothly. Furthermore, this is not the case in reality as many enterprises chose their already existing cloud providers instead of Blockchain as a Service providers.
Rely on a Large Network Integrator
Most of the pilot projects of Blockchain as a Service follow the typical advice and knowledgebase of the large system integrators. Furthermore, the knowledge base of those large integrators is limited to tier1 stacks like Hyperledger Fabric and Ethereum. That’s why the potential of the true blockchain environment remains in the dark, and no one extends the level of features in these solutions.
Moreover, it’s quite rare to see mission-critical technologies to power the entire enterprise architecture because they are only a startup. So, the big industries scope up the option for the startups to grow and offer Blockchain as a Service as well.
In reality, a strong understanding of the blockchain protocols, frameworks, and tools is much more important than just vertical expertise.
Selecting the Right Blockchain as a Service Architecture
Before you jump into Blockchain as a Service integration, you need to see which provider offers the right type of solution for you. There are some special features to look for in the ideal Blockchain as a Service providers. Therefore, you should always check these out before committing to them. Let’s see what they are –
Rapid provisioning is actually the ability to deploy any blockchain networks quite rapidly without any issues.
The Blockchain as a Service companies are always under loads of pressure to install, deploy and manage the environment efficiently and quickly. Furthermore, the environment needs additional support, but the variation of the database, browsers, firewalls, application servers, and hardware make it difficult to achieve. Typically these are the few issues that the Blockchain as a Service companies need to overcome –
- Complicated, arduous and error-prone installation, which takes up days to get right.
- Network environments are too difficult to support and administer.
- New tools that need to be provisioned immediately after the launch.
- Inflexible systems and environments that are too difficult to integrate.
- Inconsistency in a deployment that drifts away from the standard.
- Not enough hardware support for all the projects.
- Configuring features between production, testing, and development.
- Patching up thousands of environments.
To avoid all these problems, you need to look for Blockchain as a Service provider that offers quick and economic deployment, testing, staging, and good production line without making any errors. There are some great Blockchain as a Service companies that let the user to –
- Rapidly deploy the blockchain network without too many faults.
- Offer good backup solutions in case of any emergencies.
- Quickly add up new additions to the platform without any server fails.
- Offer technical support in case of self-deployment.
- Roll back to the previous version in case of any bugs or loopholes without hurting any data.
- Takes very little time to deploy such as 10-30 minutes.
So, make sure when you choose your BAAS provider, they need to have rapid deployment facilities.
Every enterprise comes with its unique need for backend services. Developing the oracles for that integration becomes a hurdle for the companies. That’s why the Blockchain as a Service providers need to offer backend services such as integration of popular features and mainstream technologies.
Typically, any enterprises need to have at least some of the followings from their Blockchain as a Service providers.
It’s a requirement for making sure the application data and user data stay within the boundaries of the platform.
Process Control/Tighter Resource:
A scalable environment is always crucial because it needs to keep maintaining the original performance all the time. Furthermore, the environment needs to have guard mechanism from any hacks, controlling data flow, computing resources, active monitoring tools and so on. These are some of the few process controlling requirement of the enterprises.
We know that most of the typical SAAS come with a subscription rather than licensing it one time. But typically BAAS doesn’t come like that. Furthermore, they usually include cost-cutting solutions. However, you need to see whether the costing comes with hidden expenses or not.
Usually, enterprises already run on a typical network layering where there should be multiple layers of the data sources, processes and workflows. Moreover, the backend services should be able to get integrated into this architecture. Therefore it can support a wide range of application without changing the old legacy network.
The original purpose of any permissioned network is the ability to permit users for certain information or layers. If you integrate an identity management platform, then your blockchain network would be tightly secured. You can grant permission to individuals with that kind of status.
Obviously, not every single employee in an office have access to internal sensitive information, do they?
IAM or identity and access management is a type of framework for enterprises that facilitate the management of digital or electronic identities. Furthermore, the framework includes all the policies to manage the identities and also offer technical support to store them.
With IAM platforms, you will be able to control the user access for critical information within your organization. Moreover, identity and access management always offer control system built on role-based architecture. This helps the administrator to regulate access all over the network and identify any bad players.
In reality, usually these accessing means the ability to write or read a specific data or task, sometimes even viewing or creating also falls under the niche. Moreover, you can assign roles based on their job authority, competency, and responsibility within your organization.
You can use a single sign-in format or even use multiple authentication processes to give users access. As you’ll be dealing with authentication, you would have to store all the identities and manage them in a secure place.
Furthermore, the IAM integration also helps out in ensuring that you only share what’s needed not everything else.
So, you need to look for the IAM framework integration with the Blockchain as a Service solution.
For business logic, you would need a smart contract mechanism to be a part of your network system. However, as the platforms are immutable, it makes the deployment and testing process of smart contracts quite foreign for the developers. That’s why you need to make sure that your Blockchain as a Service companies offers the smart contract integration with the deployment.
Smart contracts are one of the most important parts of any Blockchain as a Service solution. Mainly because they are a great way to enforce an agreement between parties. In simple terms, smart contracts are a special kind of digital contract that directly controls the transfer of assets or documents between users under certain rules.
Furthermore, the best part is that the smart contract doesn’t only define the rules like typical contracts, but it also enforces the penalties in case of any rule breaking situation. However, the term smart contract is a bit farfetched because they aren’t legal contacts nor they are smart.
The users using the contract will just take everything into account and make sure the code runs fairly.
Furthermore, we believe that smart contracts will potentially become a legal contract if we can rule out certain conditions. We’ll probably see a fusion of the smart contracts and legal contracts to make everything digitalized. Moreover, they can also be accepted by law enforcement.
But at present, you can’t confuse smart contract with legal contracts because the law enforcement or courts don’t accept them.
Different Frameworks and Runtimes
Okay, you got a quality Blockchain as a Service architecture from your BAAS company. But maybe now you want to change the initial type of blockchain platform and move on to another one, how will you do that?
Typically there isn’t many Blockchain as a Service companies that offer versatility when it comes to blockchain frameworks. However, you need to have a choice in case of choosing the perfect framework. Some Blockchain as a Service companies even offer only one kind of enterprise blockchain deployment. Furthermore, this limits the opportunity for you to get the desired type of framework you need.
Other than there some Blockchain as a Service companies that offer minimalistic tools set to further tweak up the framework. There should always a variety of toolset available at your disposal if you want the ultimate flexibility in deploying a BAAS solution.
Go for a BAAS that offer first class support for a diverse set of frameworks and runtime. This way you’ll get the ultimate taste of flexibility that your enterprise needs.
Identity-Based Consensus Mechanisms
Seems a bit far-fetched, doesn’t it? The typical consensus mechanisms we see are practically Proof of Work or Proof of Stake. However, there is more consensus mechanism to reach an agreement between the users.
PoW or PoS actually doesn’t offer the necessary amount of scalability that the enterprise-grade actually needs. These mechanisms are absolutely unnecessary and computationally intensive consensus protocols.
The Blockchain as a Service companies should introduce a consensus mechanism that doesn’t depend on the computational aspect. Typically these mechanisms are lightweight such as Proof of Authority.
Furthermore, these identity-centric consensus models can scale up the network and enterprises can truly integrate the technology. Thus, look for identity bases consensus solutions as all the enterprise will operate with known identities.
Permissioned blockchains are a must for a Blockchain as a Service providers. Basically because of the need for privacy. Yes, there are typically a handful of permissioned blockchain networks on the market, but there are also public solutions too. Public solutions offer a lot of features. But they aren’t suitable for enterprise-grade integration.
You might want privacy, but popular public frameworks can’t give you that. One of them is the Ethereum platform, although they are super popular; still, they can’t offer proper applicability within corporations. That’s these have to move to private or side-chain support.
But many issues limit the private chain options in these frameworks. So, try to go for a permissioned Blockchain as a Service solution rather than public ones.
Block Monitoring and Explorer Tools
So, now you have a blockchain network, but if you don’t manage it how can the system run properly? Not every enterprise is eager to have managed network architecture because of the need for privacy. Obviously, trust is the big issue here and trusting other parties from your Blockchain as a Service companies might be a bit far-fetched.
In reality, you’ll want to manage or monitor from your organization. But to do that you’d need monitoring and exploring tools to maintain the overall health of your BAAS solution. Monitoring tools such as explorer will let you know how the nodes are working or if there’s some form of error on the ledger.
You can also use these tools to see whether a node is trying to cause harm in the ledger and tamper with the information. Although they would not be able to harm the ledger system, still with the help of the monitoring tools, you can quickly assess which one is the bad player.
Other than this, some performance checking tools will let you know how much capable your blockchain solution really is. Furthermore, in case you added a new feature you can just quickly check the health and see how it’s doing.
It’s convenient and super easy. So, make sure you Blockchain as a Service companies offer you the necessary monitoring and exploring tools.
There are some blockchain-First services available on the market; you should see whether your BAAS provider offers it or not. However, it’s an optional case. Technologies such as ENS, Metamask, Truffle, Swarm, BigChainDB, IPFS and many more offer some innovative solutions. Blockchain as a Service companies at present does not cover these technologies.
If you want you can look into these technologies in your BAAS packages. However, it’s completely optional as you won’t find many Blockchain as a Service companies that really offer these solutions.
Private Transactions and State/Side Channels
Your BAAS Company should be able to offer you private transactions and even side/state channels. Many of the computational load happens on the off-chain or private chain. However, there isn’t many Blockchain as a Service architecture that supports these off-chain applications.
Furthermore, this somehow limits the scalability as the load in the main chain becomes too much and you end up with a slow network. So, make sure you know whether your Blockchain as a Service architecture supports the private chain transactions or not.
Other Factors to Consider
Now you know about the ten factors you should consider to know whether the Blockchain as a Service architecture you wanted is ready for your organization or not. We’ve noted down both basic requirements and advanced requirements which are basically relevant with the real world use cases.
The major part of the permissioned blockchain is based on either Ethereum or Hyperledger. Furthermore, these blockchain solutions are capable of taking on any type of real-world applications.
However, there are few of the factors that can be a great baseline to know about the technical viability of the Blockchain as a Service architecture. These are –
Many enterprises need premium quality solutions, and for that, they require professional grade services. The implementer community of the Blockchain as a Service providers need to have professional personals that can easily attain the complex solutions for the enterprises.
A strong implementer community within a BAAS will streamline your deployment much faster. Moreover, it’s a perfect indicator of how great the provider is. Furthermore, their market equivalence will also be quite sophisticated.
Obviously, you would want the best of the best developers for your deployment. Furthermore, a good developer community will always give an excellent output. Usually, they can harness all your needs within the framework without any errors in coding.
Thus, you won’t have to worry about the viability of your Blockchain as a Service architecture because the developers will take care of everything.
If your BAAS company offer a good developer community, then you should definitely go for them.
The best way to pick out Blockchain as a Service architecture is to look for a strong fan base. In reality, the companies that can offer the most advanced and hassle-free solution will have the most customers. You can also see a lot of testimonials that can vouch for their legitimacy.
Even though there are a lot of pilot projects, there’s nothing like a customer ecosystem for evaluating their market worth. Therefore, a BAAS provider with good customer fan base is a sign of great quality services.
Is Blockchain as a Service architecture only just a medium for vendors to offer blockchain technology to organizations? Don’t they ever introduce any innovations? BAAS solutions vary from provider to provider. So, the output might not be the same for same Hyperledger deployment from different vendors. Thus, innovations in this marketplace can create a more different type of Blockchain as a Service architecture for your organization.
Innovations of their own might be a great catch in case of any blockchain deployment.
We know evaluating the marketplace with the press releases, level of activity or funding rounds isn’t the best way to look for a Blockchain as a Service architecture. That’s why using the guideline earlier you’ll be able to evaluate both technical and market popularity.
We’re pretty sure it will definitely help you out to filter the perfect vendor for your need.
Chapter-3: Why Should You Look Into BAAS?
There are quite some great reasons why you should look into Blockchain as a Service. We’ve previously explained how the blockchain development service can be a great option to invest for future integration.
But if you are still skeptical about the reason, then check out the following. We are pretty sure they are more than enough to convince you. Let’s start!
Baas: Reasons for Use and Popular Applications Infographics
Easy and Open
The blockchain development service offers an easy solution to your complicated deployment. Developing a blockchain is not a piece of cake. Furthermore, you’d need to have the perfect team with developers’ marketer and governors to look after the platform.
Just one tiny mistake can make the system incapable of using. But the blockchain development service can deploy new networks every minute! Furthermore, they are simple to deploy and won’t take more than a few minutes to get started.
Who wouldn’t want that?
Efficient and Flexible
The best part of most of the blockchain development service is that they offer a wide range of consensus algorithms. Moreover, these consensus algorithms are necessary if you want flexibility in your technology. This is why many BAAS solutions can offer 5000 per second transitions.
Moreover, other power tools such as flexible switching protocols, dynamic joining, and physical resource management are enough to make the solutions efficient. You won’t get this much flexibility from typical solutions.
How can we forget about the costing of the whole deployment? Usually, the blockchain development service costs lower than deploying your very own solution from scratch. If you want to develop your own technology, then you’d need to hire employees who are expert in that field and depend on then for the rest of your carrier.
Nowadays these costs up way too much than the average managed platforms. Furthermore, the blockchain development service will also only take money for the features you are using. There aren’t any hidden costs in most cases.
Privacy Protection and Robust Security
With the help from the blockchain development service, you can manage all permission level, nodes, and keys from one single control panel. In reality, almost every single BAAS provider offer the control panel for easy access.
The encryption process of the ledger information also adds up more security and will ensure supreme privacy. Moreover, the cybersecurity in these solutions is remarkable as they don’t let any external or internal fraudulent activity happen.
If you are the owner of an enterprise, it’s quite natural to want to be in charge of everything. To help you out in this regard, many blockchain development services offer management access to the network. Furthermore, they also offer the governance process so that you can ban people for illegal activities.
These systems are much needed for any enterprise that wants to change its internal networking system with blockchain.
You’ll get a wide range of managing tools with the blockchain development service. Furthermore, these tools help out to monitor or check the performance of the network. Moreover, there are also builder tools which you can use to tweak up the platform in any way. Mostly these tools are a great option if you have a developer in your team.
Chapter-4: Where Can You Use the BAAS Solutions?
Previously financial industries were the first to ever consider blockchain financial service. Blockchain as a Service is fully capable of handling all their networking burden. That’s why the global transaction is one of the best Blockchain as a Service use cases.
Now with BAAS solution, you will be able to make cross border payment, which will in return give the financial sector a massive boost.
Furthermore, the instant transaction process is awfully fast, and you won’t have to wait for several days to process the payment. In reality, it only takes 10 seconds or so to send the payment.
Blockchain as a Service IBM is one of the prominent examples of this use case. IBM launched World Wire, and with that, anybody can clear up the cross border payments. Usually, they offer –
- Speedy money sending options.
- Greater efficiency.
- Reduced costing.
- Security-rich environment.
- Massive transparency
Furthermore, its super simple to use and you can integrate it in any kind of organization. So, you’ll be able to enjoy the luxury of saving time.
Trading is another one of the great blockchain as a server use cases. Every year, more than $18 trillion luxury items are shipped using any kind of trade finance companies. That’s a huge marketplace and Blockchain as a Service can make it run more smoothly.
In reality, what this sector needs is to have more control over the whole process. Moreover, Blockchain as a Service can really shine here.
A great example of this would be TradeLens. TardeLens is a Blockchain as a Service technology with stakeholder inputs and grounded rules. Furthermore, it’s a modern modular network system that can deliver a great deal of efficiency.
The platform has over 150 organizations to back them up. Moreover, the benefits are huge such as no paperwork, higher efficiency, trust and transparency and many more.
Furthermore, the network is fully secured, and everyone is free to see their information. So, only they will have access to it, which is great because it preserves privacy.
We are pretty sure you along with everyone else is concerned with food safety issues. The massive farming channels are growing large quantity of foods, but to do that they are harming the quality of it. Processed foods are common, and they have the least amount of nutrition we need. Furthermore, the chemical components for longer shelf life make them more dangerous for us to eat.
But how can you provide a good solution for this awful problem? Well, Blockchain as a Service use cases will come in handy in this regard. Furthermore, with the help of these solutions, the companies can track down the food material and evaluate the quality of food before marketing it.
Blockchain as a Service IBM is offering one of the wonderful solutions – Food Trust. Food Trust will let you know the quality of your raw material from the starting point to the end product.
Furthermore, it will also offer –
- Food safety accountability
- Food freshness, even after production
- Promoting brand trust
- No food wastage
- Increase sustainability
- No scoop for food fraudulence
It’s one of the crucial Blockchain as a Service use cases. In reality, BAAS can really shine in supply chain management. Furthermore, many of the blockchain development services offer attractive features such as –
- A secure and private ledger system.
- Visibility for every step of the supply chain process.
- Validating data with smart contracts along with enforcing agreements.
- Accurate information and it’s non-changeable, this way it can quickly spot the bad player.
- Increasing revenue.
- Cost cutting solutions in every stage.
Usually, supply chain industries suffer from a major issue – the lack of proper traceability. Furthermore, it’s quite normal to produce a bulk amount of products in every segment, but to keep track of each one of this was quite impossible.
As a result, many products go missing or get replaced by counterfeit products. Furthermore, this in the long term damages the reputation of that brand.
To deal with the situation Blockchain as a Service, IBM is working on solutions specifically for supply chain management. Moreover, the platform offers transparency and traceability, which are two of the major needs of this sector.
Retailer industry is another popular Blockchain as a Service use cases. Why? Well, it’s because retailers always have to fight off counterfeit products so that their customers can get the authentic products they deserve. However, with very little success rate they are unable actually to fight off the counterfeit marketplace.
Blockchain as a Service in this point can offer a lot of security measures and help fight off the counterfeit products.
Some major players in this realm are Alibaba and Walmart.
Walmart is one of the top retailer giants on the market, and at present, they are really interested in BAAS. In everyday operation, they are using blockchain services from IBM to manage and track all of their goods. Furthermore, they are also trying to digitize all the processing of buying goods and payments.
On the other hand, Alibaba wants to stop theft issues. Every year, many products get stolen from their warehouse or production line. Moreover, to stop this, they are using blockchain based solutions. Furthermore, the company is looking into enterprise-grade BAAS.
Blockchain as a Service use cases are perfect for any governmental services. Typically governmental institutions are really coming short on digitization. Furthermore, citizens deserve better privileges and rights, but due to running on legacy networks these institutes can’t offer it.
As a result, it’s becoming a burden for the governmental services to keep up with the demands.
However, special services such as blockchain financial service or any other service can help streamline the process of digitization of a government. Moreover, shifting everything on the ledger system will ensure a paperless society without any illegal tampering or paper trails.
In reality, many governmental services are collaborating with the Blockchain as a Service providers.
Securing digital IDs of every citizen and streamlining payments such as land, mortgage leasing or any other kind of payment is just a few of the possible applications.
Countries such as Chile, Estonia, Dubai, and Israel are already looking into their blockchain implementation.
Just think of a situation. You are a photographer, and you sell your work for money. Moreover, you use the social media platform for marketing your photography skills, but many are using your work without your permission, and you are not even getting paid for those. Does that seem like a good solution for you? Obviously not!
However, this is the usual case for artists, inventors, musicians, and designers. Furthermore, to put a good impact on the marketplace, they need better security for their intellectual property. In reality, there are lots of companies that patent or trademark intellectual properties; however, their databases are really backdated.
That’s why you need to use blockchain to patent your work so that no one can illegally use that. Moreover, with the blockchain financial service, you can easily keep track of your properties and get the payment you deserve.
Healthcare institutions can easily leverage all the benefits of Blockchain as a Service use cases. Typically, lots of investments go into this sector, but with very less prominent results. And why is that? Well, it’s because many people exploit the lack of transparency in the industry. Moreover, they will target the vulnerable points and take advantages.
Another major factor, in this case, is the counterfeit drug issue. Fake drugs are not something we would want to swallow every day. Furthermore, many people suffer from serious diseases for taking fake drugs. The market is growing, and the pharmaceuticals can’t do a thing about it.
To help out, this sector can really use the Blockchain as a Service application. Moreover, blockchain financial service can overlook the payment process, and the ledger platform can track and offer immutable information.
If they come together, no one will be able to do fraudulent activities.
Oil and Gas
It might seem like a bit of a weird Blockchain as a Service use cases, but oil and gas niche is one of the biggest enterprise industries. Moreover, multiple sources claim that BAAS would be perfect for this sector. Additionally, freight payment and auditing processes need a proper networking base to streamline.
In a simple context, Blockchain as a Service can improve the efficiency no matter which route it takes into account – Plain, Ship, Truck, and Rail. Furthermore, oil companies can come up with the best possible route and reduce costs to a great extent.
However, everything depends on the accountability of the data. So, once the data is in the ledger no can change or alter it and both the carrier and shipper would see it.
According to Accenture, BAAS solutions for enterprises can save up more than 5% of the cost. That’s why many oil giants are now exploring the idea of the blockchain.
Real estate market isn’t doing that great these days. In reality, it suffers hugely from poor liquidity along with too much costing and not enough output. Nowadays it has become a luxury item that only the rich people can invest in.
Furthermore, to balance this situation real estate companies need to utilize the Blockchain as a Service use cases. BAAS platforms can offer the necessary amount of liquidity the niche needs.
There are multiple occasions where real estate companies are using blockchain to track the marketplace. Moreover, they are also ensuring better customer satisfaction and convert every land to digital land.
Using that people would be able to invest in fractional ownership and they can easily buy and sell the lands wherever they want. So, in this way, the liquidity in the market will come back.
Blockchain as a Service use cases can really leverage all the applications in this niche. To you, this sector might seem like far-fetched, but this sector also needs attention. Every year, millions of dollars go to charity industries for humanitarian works, but do they really go to the people in need?
Sadly, no. Humanitarian industries suffer from one of the biggest fraudulent activities of all time. Moreover, many people try to tamper with the paperwork and make it look like they are giving the money to the poor. However, only a handful of people gets help even though they have more than enough donations coming in every day!
To help put a stop to all the bad players, this industry can use the power of blockchain financial service. Using the solutions form BAAS providers they can harness the immutability. Donations will come in through the ledger, and no one can tamper with them. Moreover, they can also track down where the donations are going.
Another industry is falling behind in the technology race game is insurance. Insurance companies have to deal with too many paperwork and money trails every day, which is kind of overwhelming. Furthermore, every time someone claims their insurance the company has to send their employee to check whether the claim is true or false.
Moreover, this process takes up a lot of time and cause more trouble for both the consumer and the company.
Other than these, these companies also exploit their customers by not being completely honest. Usually, there are a bunch of loopholes in insurance policies, and for these, many customers are deprived of money.
So, to put an end to it, they need to leverage Blockchain as a Service use cases. With the integration of blockchain, they can use the blockchain financial service to lock in the agreement. Many Blockchain as a Service providers are capable of offering this solution.
Furthermore, with everything being automated and out in the open you can easily claim your insurance without any delays.
Media and Entertainment
The entertainment business is one of the crucial and biggest sectors in our community. In reality, participation in media and entertainment is quite easy because of social platforms like YouTube. However, even on YouTube, the treatment isn’t fair.
Even though the online platform has many rules but still there is much unfairness for YouTube artists. Moreover, they don’t get exposure for their work.
Furthermore, the situation is extremely discouraging, and many great artists don’t promote their work as they should. But with the Blockchain as a Service use cases on the mix the media industries can truly turn it around.
They can track all the records from the artist and can also distribute their revenue more carefully using the blockchain financial service. Moreover, preserving their rights using the platform is also applicable. Furthermore, they can use a smart contract feature to instantly pay the artist whenever someone buys or sees their work.
Last but not the least travel industry is quite popular in terms of Blockchain as a Service use cases. We’ve seen many airports to work with blockchain providers and to be frank; they do work really great. Airports are keen to use the new technology, and with the providers, they get a good deal.
Furthermore, the travel industry wants to revolutionize the passenger processing system using the tech.
Using a single database to add up all passenger identification is a great solution because this way passenger won’t have to wait for hours in a border crossing situation. Moreover, without any documentation and everything being digitized people won’t be able to forge passports and pass through.
The British Airway is currently using the tech to see how the system works. They are sting all the incoming and outgoing flights and schedules for greater accuracy. At present, they recorded more than 2 million flights without any issues.
Chapter-5: Popular BAAS Providers on the Market
Baas Providers and Real-World Examples Infographics
You obviously heard about Microsoft – the tech giant ruling the marketplace. But we think you’ll be more pleased to know that Microsoft did join the BAAS provider league with their platform. So, now they offer solutions through their Blockchain as a Service Microsoft Azure platform.
Furthermore, with their awesome new product range, you can deploy a platform just within a day! How wonderful is that? Another awesome feature of this Blockchain as a Service Azure platform is that it would only take a few clicks to set it up! Blockchain as a Service Azure workbench is mostly suited for development or test phases of ledger system. Not that you won’t be able to use the ledger system, but if you want a solid platform to only develop then Blockchain as a Service Microsoft is here to back you up.
In reality, Microsoft always excelled at any kind of technology they offered us. So, in the case of the blockchain, we can’t expect any less output from them.
Blockchain as a Service Microsoft reduces the costing and timing for deployment using their prebuilt integrations on the platform. Moreover, when you are setting up you’ll get a lot of developing tools in the Blockchain as a Service Azure platform.
All you have to do is choose the options or features you want to add on your network and you are done! Moreover, you can configure every feature on the Blockchain as a Service Microsoft platform. No other provider will give you this much flexibility. So, it’s a really easy task.
After that, you’ll have to deal with the topology section of Blockchain as a Service Azure platform. Here you would have to choose the topology you need. Typically they offer three kinds of topologies in the Blockchain as a Service Microsoft platform.
First one is the Dev/Test topology. In this Blockchain as a Service Azure solution, you will only a virtual machine to work with. It’s mostly for developers only.
If you are a single organization, then go for the single member topology. With this, you’ll get multiple nodes across a variety production line.
If you are a consortium, then it’s best to stick to multimember topology. Additionally, this one will let you stimulate any consortium like structure. You can select the number of nodes and depend on that it might take you 15 minutes to set up.
What Are The Features?
- You can track produced goods with the help of voice and SMS interfaces.
- It integrated the Internet of Things, using that you can easily track the location of your shipment or any kind of product.
- You can manage the core processes with the help of ERP systems. Furthermore, it can also communicate with the core participants.
- Microsoft Azure will let you enjoy faster deployment options with greater efficiency.
- It also reduces the cost of blockchain deployment. So, changing from legacy network to blockchain won’t cost you too much money.
Blockchain as a Service IBM platform is another excellent option for you. The wonderful platform comes with a lot of BAAS solutions for you to try out. Furthermore, we have to admit IBM does have a lot of BAAS projects under its bag.
IBM cloud infrastructure is one of the enterprise-ready, integrated and fully operational solution on the market. Using the Blockchain as a Service IBM application, it’ll be much easier for you to integrate blockchain, operate the interface and govern the system.
At present, you’ll only get Blockchain as a Service IBM platform on Hyperledger Fabric. Moreover, IBM was one of the biggest contributors to this project. Don’t worry because of just one solution, as IBM can tweak up the platform for your needs.
Furthermore, integrating with Blockchain as a Service IBM is really fast, efficient and offers additional security for your organization. Who wouldn’t want that right?
In reality, you will get a wide range of subscription options for you to choose from. Moreover, each one will offer something new to make them more lucrative. So, it doesn’t matter whether you are a small enterprise or a multinational enterprise; you’ll always get the BAAS solution you deserve.
However, if you are on a tighter budget then look into the started plan as it’s one of the economic ones.
The Blockchain Platform Features
Creating New Apps
It does come with an efficient development environment for your apps. Moreover, you can go for the online, shared or the local environment when setting up. However, you would need development tools too, right? Not to worry, because Blockchain as a Service IBM got your back. All the settings of your development environment are equipped with modern tools.
And so you’d only have to plug in and start making new applications.
As we said earlier, you’ll be getting a governance system with your blockchain solution. Moreover, you can start governing your platform right after the deployment. Activation tools are