SAP is launching a ‘blockchain-as-a-service’ in the SAP cloud, in a move the company says will help businesses integrate blockchain into existing business processes.
The ‘ready to use blockchain technology’, based on the Hyperledger open source blockchain platform, is part of SAP’s Leonardo offerings, which the vendor launched at its annual Sapphire conference this week.
Other vendors, including Microsoft and IBM are also offering blockchain technology.
The company says the BaaS offering will enable companies to ‘experiment and play with the blockchain to see how it could benefit their businesses; use open standards to create consortia-based and private blockchain networks and prototype, test and build customised blockchain applications and smart contracts.
Raimund Gross, SAP blockchain innovation manager, says “Blockchain is a completely novel architecture for business, with the potential for building a new generation of applications that establish trust and transparency while simultaneously facilitating the validation and execution of transactions in multi-party processes and business networks.
“We see a future in which customers will benefit from our strength in optimising business processes, not only in a single-company setting, but also in a decentralised and network driven world.”
Gross says beyond popular use cases in financial services and supply chain, SAP believes blockchain can enhance ‘various’ scenarios across all industries and lines of business.
He says using SAP Cloud Platform Blockchain service customers and developers can start building blockchain extensions for existing applications.
SAP will also extend the offering to other products.