A relatively new off-spring of the Blockchain technology, one that has begun manifesting in multiple industries is Blockchain as a service, better known as BaaS. Similar to cloud computing in concept, here vendors offer end-to-end management solutions as Blockchain service providers. If this is the first time you’ve heard of this phrase, then our beginners’ guide on the subject would do you a favor.
The science behind this ledger technology has matured to such an impressive extent that if you have a blockchain inspired business idea today, it can take off tomorrow with Blockchain as a service.
A more pressing question, however, for businesses is the criteria they adhere to for choosing a blockchain-as-a-service provider. That, friends and folks, is the topic we’ll cover today, illustrating the parameters to partner with a reputed BaaS solution provider.
Why You Should Care About Blockchain-as-a-Service?
As things currently stand, Blockchain as a Service model is dominated by legacy IT corporations that boast an appreciable market share of cloud computing. As a result, their entry in the race to become the de facto Blockchain as a service provider of the market has been fast and furious. Their clientele majorly includes big businesses. But this status quo is expected to change. Technology is always adopted first by those closest to realizing or envisioning a future outcome.
Later, with increased consumerization, it penetrates the upper layers and becomes inclusive for everybody. In the foreseeable future, Small and Medium Enterprises (SMEs) will realize Blockchain as a Service benefits for their bottom lines and will see blockchain creating systematic value chain for better digital economy. If you are an SME or a startup dealing in Blockchain solutions, then based on the pointers mentioned above the cost of BaaS offering would only add to your profit margins.