SAP is launching a blockchain-based platform based on the concept of BaaS

One of the largest international software developers for business, the German company SAP has launched a cloud-based platform to help corporations to create applications based on the blockchain.

A cloud solution that was announced at the SAP event on Wednesday, aimed at providing the infrastructure for creating business applications on top of such blockchains like Hyperledger Fabric – blockchain platform, which SAP also participated.

The company said that the project was officially deployed after the Corporation has worked with 65 companies in the Blockchain Co-Innovation Initiative. This initiative was aimed at testing the application of the blockchain in various industries such as supply chain, manufacturing, transport, food and pharmaceuticals.

Last month it was reported that the company is working on technology to track supply chains for agriculture. SAP partners in this project were companies from the industry Johnsonville, Naturipe Farms and Maple Leaf. DLT-the solution will be integrated into the existing technology Global Track and Trace as a «supplementary to the main processes that will create an aggregated view of data for all stakeholders involved in the supply chain».

At the event, SAP also announced
about creating blockchain consortium, whose members have the right to use technology developed by the group. The consortium includes well-known companies such as HP Enterprise, Intel and UPS.

Over the past few months has been reports that one or another major company has created its own solution based on the concept of BaaS. In may this year, developed by industrial DBMS, multinational Corporation Oracle said it is preparing to release software on the basis of the concept, and in June will start the development of decentralized applications.

In April it became known that Huawei is also launching
blockchain-based platform BaaS, and in March of the Chinese giant e-Commerce published a paper in which he detailed
the company’s plans regarding the new blockchain project based on similar concept. A similar step was taken earlier this year and the Internet giant Baidu, in January started the BaaS platform to implement and track transactions and payments in the digital currency, and managing Bank loans, insurance management, and financial analysis.

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