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Step-by-Step: How to Choose the Right Blockchain-as-a-service (BAAS) Provider for Your Company
- Blockchain-as-a-Service (BAAS) is a cloud-based third party platform for businesses wanting to build and operate blockchain applications without in-house expertise. This model is based on the Software-as-a-Service (SaaS) model.
- BAAS offers several benefits, including promoting innovation, decentralized cloud storage, on-demand, pay-per-use, and micropayments, smart contracts, and data as an asset.
- Industries such as supply chain, finance, personal identity security, voting systems, and intellectual property, use BAAS for seamless data management.
- Important factors to consider when choosing a BAAS provider include rapid provisioning, data security, process control, smart contract integration, and permissioned blockchains.
- Examples of BAAS providers include Ripple, Coinbase, Ethereum, Hyperledger Fabric, and Dragonchain. Companies such as FDA, CargoSmart, Naturipe Farms, Healthdirect Australia, and Boehringer implement BAAS provider services.
- Blockchain-as-a-service is a unique way to streamline digital transformation process and eliminate difficulties when there are inadequately skilled people in the market. It becomes an efficient solution in building blockchain infrastructures from scratch.
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