The business of blockchain technology has moved well beyond its best-known use in cryptocurrency transactions and has broadened to address secure transactions of all kinds. As a result, there is a demand for hosting services.
- Blockchain-as-a-Service (BaaS) is the third-party creation and management of cloud-based networks for companies in the business of building blockchain applications. These third-party services are a relatively new development in the growing field of blockchain technology.
- Consumers and businesses are increasingly willing to adapt to blockchain technology. However, the technical complexities and operational overhead involved in creating, configuring, and operating a blockchain and maintaining its infrastructure often act as a barrier.
- BaaS offers an external service provider to set up all the necessary blockchain technology and infrastructure for a fee. Once created, the provider continues to handle the complex back-end operations for the client.
Blockchain as a Service is a promising offering that can help your organization seize competitive advantage and make your business future-ready, without having to make significant investments in research, planning, resources, and infrastructure. ThoughtStorm helps organizations in adoption of BaaS. We have the required domain expertise and believe that BaaS is a potential viable solution for many problems the market is facing today.