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Blockchain, in simple explanation, is a technology that keeps all your data. It is not influenced by power centers like big corporations or governments. The users of blockchain are the ones who are responsible for keeping this technology running and alive. There are various Blockchain-as-a-Service companies that offer cloud based services to other businesses about which we will be discussing in this article.
What Is Blockchain-as-a-Service?
Blockchain-as-a-service is the usage of 3rd-party expertise to reap the benefits of blockchain. That help can be in the format of infrastructure or beyond. And accordingly, entities are charged for availing of rented blockchain infrastructure. There are various benefits of using such services.
Since blockchain technology is still practically limited to digital currencies, it is not common to use this technology of digital distributed ledger at a business scale. Most of us do not have the expertise to measure a clear ROI for its enterprise utility. In this situation, blockchain-as-a-service companies are undoubtedly valuable. By using their BAAS potentials, one can take advantage of the fault-proof features of blockchain technology.
Top Blockchain-as-a-Service Companies Presently Operating
For many entities, pairing cloud services along with BaaS can be highly valuable. The personalized resilience of BaaS technology enables businesses to fight against pain points by sewing integrations. Whether it is acting as a smart contracts channel for a real estate entity or a payment processing service for any retailer, BaaS is making news across varied industries.
In this article, we are going to have a look at the top 10 Blockchain-as-a-Service companies that offer great service services to businesses in the 21st-century market.
PayStand
PayStand includes blockchain into documenting and payment processes to guarantee auditability and immutability. The BaaS of the company installs networks that notarize certificates such as deeds, diplomas, and receipts. It also offers an admin platform that provides users a real-time and in-depth look into their data. Along with that, the PayStand network automates portions of the end-to-end financial process, which includes accounting, cash management, and reconciliation.
Dragonchain
Beginning as an entity within Disney, the BaaS platform of Dragonchain emphasizes on the protection of important business data and assets. The business uses serverless cloud architecture to enhance privacy and interoperability, among blockchains that share the most important information of the business, like finances.
Bloq
Among the top blockchain as a service providers, this is a famous name. Bloq provides a suite of BaaS tools that aims at key problems in business authentication, reconciliation, and security. The software platform aids businesses to create and personalizing the BaaS technology that caters to their present requirements. Some of their particular blockchain products incorporate a smart contract platform, a smart wallet, and a decentralized cloud to help entities store and handle data.
Factom
Factom has two elements inclined towards BaaS for securing and managing crucial documents. “Factom Harmony” is a ledger element that converts documents to one digitized platform to decrease audit costs and times. Factom’s “dLoc” uses encryption to verify and authenticate personal documents like birth certificates and land titles.
Symbiont
Symbiont imparts its Blockchain-as-a-Service to fintech entities in a variety of industries. Banks and fintech companies that lend for loans and mortgages use the blockchain of this company to authenticate the origination of records and record all payments transparently on a ledger. Crowdfunding platforms and private equity firms can use Symbiont to safeguard private documents and highlight ownership of securities in real-time.
Blockstream
The BaaS of Blockstream formulates scalable solutions for the Bitcoin protocol and ecosystem. The Bitcoin processing software of the company forms a larger peer-to-peer financial system that discards the requirement for third parties.
tZERO
tZERO combines its Blockchain-as-a-Service ledger into financial channels to formulate real-time, traceable, movements in the finance sector. The tZERO security token of the entity, paired with its “Digital Locate Receipt” channel, aids financial institutions to distribute digital currency and trace it across the end-to-end spending process.
Skuchain
The Skuchain EC3 Platform establishes blockchain-based infrastructure in present IT processes for the logistics and shipping industry. The ledger of the company allows businesses to access a cloud environment, blockchain protocol, and in-house applications at the same time. Consistent with any supply chain process, the BaaS of Skuchain instantly installs smart contracts and chain-of-custody tools.
Amazon Web Services (AWS)
This is another blockchain as a service example. The blockchain service by Amazon is a leader in many sectors. The entity combines networks that are based on blockchain and also business processes for some of the big companies across the globe to enhance the IT infrastructure, human resources, business processes, supply chain, and financial transactions. The BaaS of the company uses Hyperledger Fabric and Ethereum frameworks so the blockchain is elastic enough to adapt to every scenario. This is an Ethereum blockchain as a service provider.
LeewayHertz
LeewayHertz provides a complete suite of services that are based on blockchain, including hybrid ledger installation, blockchain consulting, and maintenance. This is among the top Blockchain-as-a-Service companies, that offer end-to-end BaaS offerings ranging from ideation to installation. The entity has already made dApps (decentralized applications) for industry leaders like Budweiser, Disney, and 3M.
The Bottom Line
Blockchain is reliable, but having said that, at the same time it is a completely new concept in the market. There are only very limited Blockchain-as-a-Service companies in the market and very few companies have started to adopt this technology of blockchain in their working structure. In this article, we have discussed the top 10 companies that offer blockchain services to third party companies across the globe.
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Read your blog on blockchain as service companies, it was good and informative.
If you are using blockchain to store personal data, the GDPR compliance will rely upon how you process it, as well as the sort of blockchain you have set up. So, lets discuss about How Private Blockchains Can Help Companies Quickly Become GDPR Compliant
very nice, Thank you for sharing such an informative blog. This blog helps me a lot to understand blockchain and its features so thank you for sharing.