2021 is still relatively young, but the year is shaping up to be as eventful as the last, if not more. In early January, US democracy faced a deadly challenge, sparked by a hitherto unthinkable incitation by the very individual who’s supposed to uphold that democracy against the nation’s enemies, foreign, and domestic.
The Covid-19 pandemic rages on, though the scientific community’s ingenuity and determination is now deploying an effective countermeasure in the form of a series of vaccines, which is hoped to vanquish the virus for good in the medium term.
And more recently, that very same human ingenuity put a land-based rover carrying out a drone-like device -the Mars Helicopter- for aerial exploration on the Martian surface. Upon successful touchdown, Perseverance wasted no time in calling home in the form of a cheeky tweet that read: ‘I’m safe on Mars. Perseverance will get you anywhere.’
The crypto space has been equally active. Bitcoin and Ethereum have risen to new heights (though not quite as high as Perseverance’s vantage point 300 million miles from Earth). If nothing else, crypto has proven to be a resilient product whose tour de force continues to defy its most steadfast detractors.
Blockchain, that piece of technological marvel that powers crypto, remains somewhat of an uncredited hero, much like the stuntman whose leaps and pirouettes characterize the leading action man, but his face is never quite seen thanks to clever camera angles and crafty digital effects. But while blockchain itself is not always the most visible head of the crypto space, the technology does have a major role to play in the industry. As such, several companies have adopted a Blockchain-as-a-Service (BaaS) business model, which helps clients to implement blockchain-powered solutions quicker, and more efficiently. BaaS is a worldwide industry, but in this article, we’ll focus on three specific providers based and operating within the European Union:
But just what is BaaS?
A quick reminder of what BaaS is, and how the business model operates
In simple terms, BaaS refers to the provision and management of blockchain services to enterprises by third parties. Said differently, it’s a business model where a private company offers cloud-based services to a client. The private agency creates the infrastructure and offers configuration, deployment, data security, and many other benefits to the client enterprise, greatly simplifying the latter’s access to and availability of blockchain technology. BaaS providers are not unlike web host companies. Only instead of websites, they host blockchain solutions.
Key takeaway here: BaaS agencies act as bridges between enterprise companies and the blockchain platforms these companies want to reach. You can learn more about this topic in a recently published article about enterprise BaaS.
Three European BaaS providers: Azhos, Limechain, and Europechain
Supply chain is a hugely important part of local and international trade and commerce, a fact that has not escaped many blockchain agencies which are now fully dedicated to creating blockchain-driven products to suit the industry. Azhos, based in Liechtenstein, is one of these companies.
Azhos focuses on a very specialized aspect of the supply chain, that of the chemical industry. The company deploys the Quorum Blockchain, which captures and stores inventory data and transmits it to client nodes, and uses tokenization to resolve financial liquidity issues. Azhos is one of the pioneering companies using blockchain solutions to support the supply chain in the chemical industry.
Based in Sofia, Bulgaria, Limechain offers a wide range of blockchain consulting services for a diversity of industries: Retail, manufacturing, finance, automotive, and many others, the company has worked with a range of local and international clients.
Though initially cast aside and almost universally vilified, Bitcoin (and the entire crypto spectrum, really) has proven to be a valuable asset that is just on the cusp of becoming mainstream, following years of persecution. Because of this, more and more individuals and companies are looking to benefit from the obvious advantages afforded by blockchain technology.
Headquartered in the Netherlands, Europechain ranks as one of Europe’s fastest up-and-coming blockchain service providers. Europechain offers a fully GDPR-compliant range of services, aimed squarely at driving blockchain adoption across Europe. Notably, Europechain was one of the first blockchain companies in the Old Continent to offer a blockchain-based Covid-19 monitoring and management tool for enterprises.
The blockchain industry is an ever-growing, ever-expanding space that’s bringing innovation and development to many enterprises across Europe and elsewhere. BaaS stands as a viable solution to drive adoption of this technology at an even larger scale, with names like Europechain quickly becoming synonym with innovation through blockchain consulting services.