BaaS: Helping the Business Sector Understand Blockchain
In every technological era, there is always a large divorce between the aspirations of the users of a technology and the realities of what actually gets done. In recent times, tech developments like the enterprise resource planning (ERP) takeover, the dawn of Big Data and the rise of the Internet of Things (IoT) have left large and small companies quite clueless as to how to implement these new technologies to beat the competition in tangible ways.
An overlooked piece of the puzzle in how real-world entities get past this knowledge gap is the role that consultants, advisors and “X-as-a-service” providers that bridge the gap between industry and technology. And this is especially relevant for the new and technically challenging domain of ledger technology. Case in point, look at how blockchain consultants and freelancers are easily making over $100K in places like Japan.
In this new gold rush, firms and platforms are vying to provide the most complete service offering. One startup called Fractonet Innovation Technologies provides an interesting case study. It is aiming to be the forerunner in Blockchain-as-a-Service (BaaS) for business.
One stop shops
Fractonet Innovation Technologies is taking a holistic approach to BaaS. Not only is the proposed blockchain paradigm highly competitive — see below — but they are also providing clients with an option for consultancy on how their protocol and technology should be integrated into the client’s business. With regard to collaborating with the client, Fractonet explained, “We start our service by breaking down the ideas you have conceptualized into different components. Our professionals will help you identify the goals of the concept, as well as its challenges. Sharing our knowledge and experience with you, we will have a better mutual understanding of your concepts, which will place you in a better position to convince the decision makers.”
This thoroughness also extends to the business case for the project: “Through the implementation of our blockchain MVP, our experts will know whether or not the product you are about to develop is worth the effort and resources. We truly have the desire to see your investments become successful. Provision of our blockchain minimum viable product is our way of helping protect your investments and maximizing your chances of success. Our service can also help you develop a custom-tailored final product that will fit or surpass the expectations of your users.”
Tools of the blockchain trade
Of course, the underlying fundamentals of the Fracton Network’s offering needs to be up to scratch. This is where the company is hoping to set themselves apart, with a protocol design that achieves high security (using SHA-256 standards) as well as speeds that are near the fastest ever recorded on a blockchain. The 33,888 transactions per second with the Fracton Network protocol, along with its five minute block time and 1.5 GB block size, are among the very best metrics to date. And to completely set the blockchain technology apart from other new communication protocols, the RIFT Protoco was created. The RIFT Protocol can sync 1.5 GB block sizes, which are capable to store data and transactions on-chain for real solutions for the immutability of data.
Bridging the gap between theory and usefulness
Many investors and commentators have long awaited actual usage of blockchain on a widespread scale. Fractonet is showing how they are banking on in-depth client interaction and cutting-edge tech to led the market in BaaS. With expectations and hype mounting in the sector, it will be exciting to see which companies best bridge the gap for businesses in the near future.
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