Blockchain as a Service (BaaS) provides cloud-based solutions that allow customers to develop, use, and host blockchain applications without having to build the underlying infrastructure. BaaS makes blockchain development simpler and more accessible for businesses. It enables organizations to focus on their core work while BaaS providers handle technical blockchain tasks. The demand for BaaS is growing as more companies adopt blockchain technology across industries like supply chain, healthcare, and finance. The BaaS market is expected to grow from $350 million in 2017 to over $15 billion by 2023.

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Blockchain as a Service and Its Demand
Being an entrepreneur, you always aspire to achieve a position where he is told that his
startup is a success. Consumers are eager to buy his product, and the demand is
continuously increasing with each day passed. With Blockchain technology, it seems
possible. Blockchain technology is dominating over the marketplaces and has marked its
reach to almost every industry. The Blockchain offers numerous applications to provide a
faster output and higher efficiency that couldn't be found in a traditional network. As
Blockchain is creating a new kind of marketplace, Businesses and enterprises worldwide
have begun taking a chance with Blockchain implementation in their infrastructure.
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Blockchain as a Service or BaaS refers to another marketplace that is a significant part of
the Blockchain economy. Blockchain as a Service model, has successfully made
Blockchain development simpler and safe for businesses and organizations. Using this
new model can enable organizations to concentrate more on their core areas and not
worry about the development space. This article will discuss and try to understand what
the BaaS model is and how it functions.
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What is Blockchain as a Service?
BaaS is an exclusive product that offers customers using cloud-based solutions to
develop, use, and host Blockchain solutions, functions, and smart contracts. In other
words, BaaS offer all functional Blockchain platforms to cater to your needs.
Blockchain as a Service company works as a bridge between the enterprise and
Blockchain platform. An enterprise's tweaking is much more needed than developing an
original platform because usually, Blockchain platforms offer generalized technology. All
the companies cannot integrate these platforms.
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How do BaaS works?
The way of working with BaaS is relatively simple. This as a process requires a Blockchain
professional to hold the back-end services. These Blockchain experts or professionals
handle the important Blockchain technology artifacts and keep them functioning. Not
only this, but they will also perform functions such as hosting requirements, security
protocols like anti-hack layering, suitable distribution of resources, bandwidth
management, and several other functions. Using BaaS solutions enables you to focus
more on your core business instead of getting involved in the network statistics and
performance issues.
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Before selecting any BaaS integration, you must check whether the BaaS provider offers
you some unique features. Such features include- rapid provisioning or the ability of
quick deployment of Blockchain network without any issue. It should also provide back-
end services such as integrating popular features and mainstream technologies, data
security, process control or tighter resource, cost control and integration, IAM platforms
to facilitate the management of digital or electronic identities; smart contracts; and
different frameworks and runtimes. These features will make your BaaS running
smoothly and ensures the efficiency of your business operations. It is also crucial to know
why BaaS is useful and popular.
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Following are the reasons why you should look into BaaS:
● The Blockchain as a Service offers easy and flexible solutions to your complicated
deployment;
● It provides a wide range of consensus algorithms to make technology more flexible;
● It provides lower costing as compared to deploying your solutions;
● Privacy protection and robust security by providing encryption process; and
● It provides a wide range of tools to monitor the performance of the network.
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The BaaS solutions can suitably be used in and also is increasingly demanded by various
businesses and fields including Global Transactions, Trading, Food Safety, and Quality
Assurance, Supply Chain Management, Retailing of products and services, Governmental
Services, Intellectual Property, Healthcare Industry, Oil and Gas Industry, Real-Estate,
Insurance, Media and Entertainment, and Travel Industry. The market size of Blockchain
as a Service was valued at USD 350.0 Million in 2017 and expected to reach USD 15,455.0
Million by 2023, at a Compound Annual Growth Rate (CAGR) of 90.1% during the forecast
period. The year 2017 is considered the base year, while the forecast period considers
from 2018 to 2023.
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BaaS helps businesses gain more efficiency in their operations, and the demand for BaaS
providers is increasing as most of the companies and enterprises are looking forward to
adopting Blockchain technology integration in their infrastructure. So, it opens up the
scope for Blockchain aspirants in the future. All they need to do is to complete
a Blockchain Council approved Blockchain certification course and gain some relevant
project-based or industry experience.
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Blockchain Council Certifications
You can check out our certifications, and kick start your career in the Blockchain
space today.
● Certified Blockchain Expert
● Certified Blockchain Developer
● Certified Smart Contract Developer
● Certified Solidity Developer
● Certified Ethereum Developer
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Any questions?
You can mail us at
hello@blockchain-council.org
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