Blockchain as a service is being served up by Hewlett Packard Enterprise (HPE) to cater to their large clients. HP already serves a variety of large clients with their many cloud computing needs, their data centres and IOT. Yet, HPE is seeking to progress and strive to reach greater heights with it’s latest offering, assisting businesses utilise the blockchain.
They are seeking to start rolling out this service starting this friday “
“BLOCKCHAIN AS A SERVICE,” AND IT’S UNIQUE IN THAT IT OFFERS MAJOR ENTERPRISE CUSTOMERS, SUCH AS BANKS, THE ABILITY TO USE THE TECHNOLOGY ON A LARGER SCALE THAN IS CURRENTLY POSSIBLE WITH POPULAR BLOCKCHAINS LIKE BITCOIN AND ETHEREUM. FOR EXAMPLE, BITCOIN TRANSACTIONS CAN TAKE AT LEAST 10 MINUTES TO PROCESS, AS SO-CALLED MINERS GENERATE A NEW “BLOCK” AND RECORD THE TRANSFER. AND ETHEREUM HAS LIMITED CAPACITY TO HANDLE TRANSACTIONS, WHICH MEANS IT CAN BUCKLE UNDER HIGH DEMAND.”
Hewlett Packard wants to provide a better blockchain that is capable of handling significant stressors and deal with transactions and processing them in a much better fashion. They want to come in and bring the solution for these problems and increase their revenue streams.
This BAAS (blockchain as a service) that they are selling will be called the Mission Critical distributed ledger technology and will be sold next year. They will provide two things, hardware to augment businesses that want to run their own individual blockchain operations or assist clients who want to implement blockchain in the cloud.
They have a strong belief that the blockchain will as fundamental a building block as the internet.
The worldwide director of the program, Raphael Davidson, believes that “blockchain 1.0” has provided a lot of value for it’s users and it still in fashion despite some of it’s issues. Many have been interested by the blockchain at it’s current stage (from individuals to central banks) but the problem with this version, he states is that “they do not feel safe using it,” Davison says, given the issues around reliability and security. “One client said they needed a 1,000-times increase in the transaction output before they could implement it,” he adds. “So the enterprise people are saying and even the Ethereum people are saying this doesn’t scale.”
HPE will bring what Raphael calls “blockchain 2.0″ to the marketplace. Blockchain 2.0 will be comprised of “enterprises transacting with enterprises” requiring a different set of capabilities”.
Besides speed and other factors another aspect that needs to be catered to, when talking about businesses is the transparency. Businesses want to control their level of transparency so that they can always have a leg up on the competition. They are able to stay competitive by having some secrets that they hold close to their vests. The public recording aspect of the current blockchain application, bitcoin, recording all payments, isn’t something that businesses would be fond off. They don’t want their competition to know about the important deals and transactions that they’ve taken.
They already have a substantial number of customers utilizing the Mission Critical DLT service. They are looking to branch out as the next year approaches and find more industries to serve. These industries include airlines and auto manufacturers.
HPE is seeking to deploy this and then pave the way for “blockchain 3.0” where things will transact with things. Yes, interesting things are in store for the future.