Blockchain-as-a-Service (BaaS):
Many consumers and businesses are interested in the blockchain technology and are willing reap the benefits. But from the consumer's perspective it would be difficult to set up everything from scratch right from the creation, configuration and operation of the blockchain. The infrastructure also has to be regularly maintained which can act as a hindrance in adapting the technology. A third party member that offers to set up and maintain the blockchain is literally providing the service to the consumer. So the consumer just has to pay a certain fee to use the blockchain. Consumers can Host or develop apps on top of the blockchain and deploy smart contracts while the service providers manage the network.
Benefits of Blockchain Technology:
- Better Transparency and Accountability
- Decentralization
- Data Security and Data Immutability
- Faster Transactions and Reduced transaction costs
- Trust Minimization
- Improved Traceability
7 of the World's Largest BaaS Enterprises:
4. EDF
5. Alibaba Cloud Blockchain as a service
6. Oracle Blockchain Cloud Service
7. Corda
