Blockchain-as-a-Service (BaaS) is particularly at home in the areas of blockchain, digital transformation and finance. The term describes a service that allows companies to utilise blockchain technology without having to set up or operate their own complex systems. Instead, they simply rent the required infrastructure and software over the internet - similar to familiar cloud services.
With Blockchain-as-a-Service (BaaS), companies can process secure transactions, digital contracts or supply chain documentation, for example, without having to be blockchain experts themselves. The BaaS provider takes care of technical maintenance, security and updates.
A practical example: a medium-sized retail company wants to make the origin of its products transparent for customers. With a BaaS solution, it can document all steps of the supply chain digitally and tamper-proof - from the producer to the shop shelf. Customers can then use a QR code to trace the origin of the product.
Blockchain-as-a-Service (BaaS) also enables smaller or less tech-savvy companies to benefit from the advantages of blockchain technology in a secure and uncomplicated way without having to make large upfront investments.
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