Is IBM's blockchain business successful?
In order to use blockchain for their own requirements, companies do not need a complicated server infrastructure in their own network. Well-known providers such as Amazon, Microsoft, Oracle and SAP provide the necessary infrastructure for blockchain as a cloud service (Blockchain-as-a-Service, BaaS).
Blockchain as a service could become a billion dollar market
The BaaS market is growing rapidly and promises providers billions in sales. If only two percent of the servers installed today were to function as blockchain nodes one day, the market could reach a sales volume of seven billion dollars, calculates Kash Rangan, Research Analyst at Bank of America.
In a report for investors, he names the best-positioned providers from his point of view. In addition to well-known cloud giants such as Amazon, Microsoft, IBM and Oracle, they include, for example, Salesforce.com and VMware. However, providers from other areas could also benefit from the expected boom, for example real estate specialists such as Redfin, Zillow and LendingTree. With their blockchain services, the transfer of real estate could be digitized.
The US real estate broker Staten Island Multiple Listing Service, for example, started a blockchain proof-of-concept to make the activities of buyers, sellers and brokers on its online platform more transparent.
Blockchain as a Service allows companies to work with distributed ledger techniques without high entry costs and risks, this is the promise of the provider. In addition, they hardly need highly specialized developers in-house. "The blockchain wave is just picking up speed," observes Bill Fearnley Jr., Research Director Worldwide Blockchain Strategies at research and advisory firm IDC. "There are only a few experts with many years of practical experience."
What blockchain infrastructures can do
Blockchain infrastructures enable applications with which transactions can be carried out without the need for a central point for checking. This means that everyone involved can access their account book, also known as a "ledger", via a peer-to-peer network. The account book contains the transactions in the corresponding blockchain network. Since the transactions correspond to a defined pattern, they can be reliably verified by other users and their account books. Companies can not only generate their own blockchain currencies, but also use blockchain technology for internal payment transactions or for the management of logistics.
On the following pages you can read what the most important BaaS providers are offering today.
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