Due to its ability to provide solutions for optimization, transparency and cost in a simplistic and straightforward manner, blockchain as a service (BaaS) has gained significant traction in the business world.
With early adopters in the software, fintech and logistics industries, BaaS has become so popular that some of the largest tech companies in the world — including IBM, Microsoft and Oracle — all have divisions dedicated to the integration and evangelism of blockchain as a service.
What Is Blockchain as a Service (BaaS)?
Benefits of Blockchain as a Service
Blockchain as a service involves the third-party installation and maintenance of blockchain networks for a company’s technologies. Given that any company can tap into blockchain networks, BaaS companies essentially serve as blockchain services companies or blockchain infrastructure providers.
Based on the software-as-a-service model, BaaS software helps businesses develop and host blockchain apps and smart contracts in cloud-based blockchain ecosystems. In other words, BaaS makes blockchain capabilities more accessible and usable in a business.
For many companies, pairing cloud services with blockchain as a service could be enormously valuable. The personalized flexibility of BaaS technology allows businesses to combat pain points by tailoring integrations. Whether it’s acting as a smart contracts platform for a real estate company or a payment processing service for a retailer, blockchain as a service is making waves across a variety of industries.
Blockchain-as-a-Service Providers
- Dragonchain
- Inveniam
- Bloq
- Skuchain
- LeewayHertz
- Altoros
- Appinventiv
- Innominds
Here are some blockchain-as-a-service companies that integrate these game-changing ledgers into everyday tech.
18 Blockchain-as-a-Service Companies to Know
Location: San Francisco, California
PayStand incorporates blockchain into payment and documenting processes to ensure immutability and auditing ability. The company’s BaaS installs networks that notarize certificates (like diplomas, deeds and receipts). It also provides an admin platform that gives users an in-depth and real-time look into their data. Additionally, the PayStand network automates parts of the end-to-end financial process, including cash management, accounting and reconciliation.
Location: Mountain View, California
Blockstream’s BaaS creates scalable financial solutions for the Bitcoin ecosystem and protocol. The company’s Bitcoin processing software creates a larger peer-to-peer financial system that eliminates the need for third parties. Up to ten solutions can be accessed to grapple blockchain mining, energy scalability, API management and similar crypto infrastructure needs.
Location: Seattle, Washington
Starting as a company within Disney, Dragonchain’s BaaS platform focuses on the protection of vital business assets and data. The company uses serverless cloud architecture to improve interoperability, and privacy, between blockchains that share a businesses’ most important information, like finances.
Location: Chicago, Illinois
Bloq offers a suite of BaaS tools that focus on key issues in business reconciliation, authentication and security. The software platform helps businesses build and personalize the BaaS technology to suit their application building and maintenance needs. Some of their specific blockchain features include a smart wallet, a smart contract platform and a decentralized cloud to help businesses store and manage data.
Location: Austin, Texas
Acquired by Inveniam in 2021, Factom is a data layer infrastructure dedicated to BaaS for managing and securing important documents. “Factom Protocol” is a ledger tool that converts documents to a singular digitized platform to reduce audit times and costs. The technology also uses encryption to authenticate and verify personal documents on the Bitcoin and Ethereum blockchain.
Location: New York, New York
Symbiont lends its BaaS to fintech companies in a variety of sectors. Fintech companies and banks that lend for mortgages and loans use the company’s blockchain to verify origination of records and transparently record all payments on a ledger. Private equity firms and crowdfunding platforms can use Symbiont to secure private documents and show ownership of securities in real-time.
Location: Midvale, Utah
tZERO integrates its BaaS ledger into financial platforms to create traceable, real-time movements in the finance industry. The company’s tZERO security token, paired with its “Digital Locate Receipt” platform, helps financial institutions distribute cryptocurrency and trace it throughout the end-to-end spending process.
Location: Mountain View, California
The Skuchain Platform installs blockchain-based infrastructure in current IT processes for the shipping and logistics industry. The company’s ledger enables businesses to simultaneously access a cloud environment, blockchain protocol and in-house applications. Compatible with any supply chain process, Skuchain’s BaaS immediately installs smart contracts and chain-of-custody tools.
Location: Seattle, Washington
Amazon Web Services (AWS) is a BaaS leader in many industries. The company integrates blockchain-based networks and business processes for some of the largest companies in the world — including T-Mobile, PwC and more — to improve IT infrastructure, business processes, human resources, financial transactions and supply chains. The company’s BaaS deploys Ethereum and Hyperledger Fabric frameworks so the blockchain is flexible enough to adapt to almost every environment.
Location: San Francisco, California
LeewayHertz offers a full suite of blockchain-based services, including blockchain consulting, hybrid ledger installation and maintenance. Blockchain development support is available to create smart contracts, tokenization and more across seven different blockchain ecosystems. The company has already developed decentralized applications (dApps) for industry leaders like Disney, Budweiser and 3M.
Location: San Francisco, California
VironIT offers a multitude of BaaS services, including consulting and blockchain-based mobile app development. Specific examples of the company’s BaaS include everything from smart contract development and auditing to development of cryptocurrencies and digital wallets.
Location: Sunnyvale, California
Altoros uses blockchain to automate workflow processes, fortify identity security and manage records. The company has installed blockchain in a variety of industries, including telecommunications, finance, energy, supply chain and manufacturing. The permissioned blockchains in these industries do everything from mitigate fraud to detect faulty parts.
Location: New York, New York
Appinventiv offers a full suite of blockchain-based tools and solutions for almost every industry. The company builds dApps for a range of industries like healthcare, entertainment, logistics and finance. Over the last four years, Appinventiv has produced more than 700 dApps that feature everything from smart contracts to crypto wallet developments.
Location: New York, New York
BlockApps develops security-focused, permission-based BaaS solutions for enterprise customers. The company’s blockchain development environment is designed to run a node locally or on the cloud, and can be launched in a matter of minutes. The BlockApps BaaS platform has been used to develop blockchain solutions for everything from smart insurance contracts to fraud prevention in ticketing tools.
Location: San Mateo, California
Cryptowerk’s blockchain as a service helps businesses create ledger-based tools that seal off important data and create a tamper-proof chain-of-custody. The Cryptowerk Seal — a blockchain API that uses ledgers to verify the authenticity of data and digital assets — has been used for everything from shipment ID codes and GPS telemetry in cars to gathering data from smart energy meters.
Location: New York, New York
Clovyr is an ecosystem of blockchain applications that allows teams to experiment, iterate and deploy products quickly and safely. Employing a hybrid of permissioned and public networks, Clovyr offers its users upgraded immutability and authentication standards.
Location: Raleigh, North Carolina
Designed with business networks in mind, Kaleido’s full-stack BaaS platform helps enterprises quickly build and run cloud-based blockchain networks. Kaleido clients can manage multiple clouds using blockchains that span the Microsoft Azure and Amazon Web Services networks, as well as any geographic regions.
Location: San Jose, California
Innominds’ blockchain as a service creates products for smart contracts and cryptocurrencies that allow businesses to build and test blockchain products, develop crypto solutions using Ripple as well as maintain interledger payment between blockchain networks.