A blockchain service offering is a unique solution that allows business customers to use cloud-based solutions to develop, host, and adopt their own blockchain applications.
A blockchain service offering is a unique solution that allows business customers to use cloud-based solutions to develop, host, and adopt their own blockchain applications, smart contracts, and other relevant functions on the blockchain while Azure Cloud manages all the required tasks and activities to keep the infrastructure up and running.
To offer the benefits of blockchain based services to a wider audience, the technology is being offered in the cloud as a service business model. On the operational front, it is more or less similar to the SaaS, PaaS, and IaaS models which enables using cloud-based apps and storage.
When an organization partners with an IT provider for Blockchain as a Service, they enter a contract with an understanding where the BaaS partner would set up the whole Blockchain infrastructure and manage the technology from backend for the client. This settlement is covered by an agreed upon fee defined in the agreement.
The Blockchain as a Service partner leverages all essential technology to set up and keep blockchain infrastructure running for the customer. The partner also manages the bandwidth and hosting requirements and allocates resources according to its customers’ requirements. With a BaaS model, organizations can prioritize and focus more on their core competencies and key functional areas of blockchain based application development rather than worrying about backend infrastructure and its performance related issues.