Be a crypto hero in the market by logging in

Don't you have an account? Sign in

Token price

  • BTC

    11,966,925.7KRW

    -0.1%

  • ETH

    249,070.1KRW

    -3.6%

  • XRP

    330.0KRW

    -4.6%

  • BCH

    363,811.6KRW

    -2.3%

  • LTC

    85,995.9KRW

    -1.5%

  • USDT

    1,199.4KRW

    0.2%

  • EOS

    4,520.5KRW

    -5.6%

  • BNB

    24,205.8KRW

    -3.7%

  • BSV

    140,856.1KRW

    -4.0%

  • XLM

    79.9KRW

    -7.3%

  • ADA

    57.8KRW

    -6.1%

  • XMR

    86,499.9KRW

    -0.7%

  • TRX

    20.0KRW

    -7.6%

  • HT

    4,794.9KRW

    -1.2%

  • DASH

    110,096.9KRW

    -2.0%

  • XTZ

    1,258.7KRW

    -0.8%

  • ETC

    7,154.2KRW

    -1.9%

  • NEO

    10,876.7KRW

    -3.8%

  • MKR

    626,643.1KRW

    -4.2%

  • ONT

    930.7KRW

    -4.0%

  • XEM

    53.0KRW

    -2.2%

  • USDC

    1,199.7KRW

    0.2%

  • ZEC

    55,100.9KRW

    -3.8%

  • DOGE

    3.1KRW

    0.0%

  • BAT

    231.5KRW

    -8.7%

  • DCR

    26,579.7KRW

    -1.5%

  • PAX

    1,199.8KRW

    0.2%

  • VET

    4.8KRW

    -2.9%

  • QTUM

    2,482.4KRW

    -3.7%

  • TUSD

    1,200.9KRW

    0.3%

  • BTG

    12,088.8KRW

    -3.9%

  • OMG

    1,284.1KRW

    -4.0%

  • RVN

    39.4KRW

    -6.4%

  • ZRX

    284.3KRW

    -1.7%

  • LINK

    485.1KRW

    2.0%

  • KCS

    1,809.0KRW

    -0.6%

  • NANO

    1,085.1KRW

    -2.0%

  • REP

    12,702.7KRW

    -0.9%

  • LSK

    1,154.7KRW

    -5.6%

  • INB

    386.2KRW

    1.0%

  • BCD

    715.3KRW

    -4.9%

  • QNT

    10,246.5KRW

    -1.4%

  • ICX

    238.2KRW

    -3.3%

  • WAVES

    1,174.4KRW

    -4.0%

  • DGB

    9.3KRW

    -4.2%

  • XIN

    247,811.0KRW

    0.1%

  • XIN

    247,811.0KRW

    0.1%

  • HC

    2,512.2KRW

    -2.0%

  • BTS

    40.0KRW

    -1.4%

  • THETA

    125.1KRW

    -2.7%

  • BCN

    0.6KRW

    -2.8%

  • DAI

    1,203.0KRW

    0.1%

  • MAID

    226.5KRW

    -0.5%

  • SC

    2.3KRW

    3.9%

  • NPXS

    0.4KRW

    -2.2%

  • BTM

    96.0KRW

    -2.5%

  • BTM

    96.0KRW

    -2.5%

  • IOST

    7.8KRW

    -6.0%

  • KMD

    809.0KRW

    -2.6%

  • MONA

    1,316.4KRW

    -4.8%

  • XVG

    5.2KRW

    -3.5%

  • ARDR

    77.6KRW

    6.1%

  • AE

    255.4KRW

    -1.6%

  • GNT

    73.1KRW

    -2.4%

  • ZIL

    8.0KRW

    -3.1%

  • AOA

    10.5KRW

    -3.2%

  • STEEM

    196.4KRW

    -1.3%

  • NEXO

    118.8KRW

    -2.5%

  • ENJ

    81.9KRW

    -2.2%

  • SNT

    18.2KRW

    -0.5%

  • MCO

    3,951.4KRW

    -0.1%

  • XZC

    6,303.9KRW

    -4.5%

  • ELF

    98.6KRW

    -0.6%

  • WTC

    1,172.1KRW

    -2.7%

  • ETN

    5.0KRW

    0.5%

  • RDD

    1.6KRW

    -2.6%

  • ELA

    2,796.6KRW

    -0.4%

  • STRAT

    417.6KRW

    -4.0%

  • DENT

    0.5KRW

    -5.7%

  • LRC

    43.6KRW

    0.4%

  • FCT

    3,880.8KRW

    2.8%

  • PAI

    25.7KRW

    -4.2%

  • PAI

    25.7KRW

    -4.2%

  • FNB

    132.3KRW

    0.5%

  • WAX

    42.5KRW

    -3.1%

  • R

    71.4KRW

    -2.6%

  • ANT

    1,113.3KRW

    4.8%

  • AION

    92.6KRW

    -4.8%

  • ODE

    133.2KRW

    -1.5%

  • ARK

    265.2KRW

    -1.7%

  • BNT

    474.8KRW

    -4.2%

  • LOOM

    28.2KRW

    -2.2%

  • POWR

    65.3KRW

    -2.6%

  • PPT

    458.7KRW

    -4.0%

  • MOAC

    388.4KRW

    -4.4%

  • PAY

    202.1KRW

    2.1%

  • TTC

    53.7KRW

    -0.9%

  • PIVX

    310.8KRW

    -2.5%

  • CNX

    314.5KRW

    0.3%

  • POLY

    39.6KRW

    -2.0%

  • HUM

    0.4KRW

    --%

  • REPO

    115.5KRW

    11.6%

  • GUSD

    1,194.0KRW

    0.1%

  • CPT

    3.2KRW

    -6.8%

  • LKY

    182.2KRW

    -1.4%

  • AERGO

    83.7KRW

    -3.8%

  • COSM

    12.1KRW

    -2.1%

  • MBL

    2.1KRW

    -1.1%

  • APIS

    0.9KRW

    4.9%

  • AKRO

    10.7KRW

    -0.2%

  • TEMCO

    1.5KRW

    -0.7%

  • UPP

    13.8KRW

    -3.3%

  • MEETONE

    1.8KRW

    -5.9%

  • BAAS

    0.8KRW

    2.3%

  • MVL

    0.4KRW

    -1.6%

  • ABL

    10.7KRW

    -6.6%

  • DCC

    0.9KRW

    --%

  • eDEL

    2.4KRW

    -0.7%

  • AID

    11.2KRW

    -2.3%

  • PTON

    0.2KRW

    -26.3%

  • WET

    11.4KRW

    1.6%

  • VRA

    0.7KRW

    -6.0%

  • CLB

    2.9KRW

    -1.2%

  • XRA

    11.6KRW

    -0.1%

  • KARMA

    0.2KRW

    -1.6%

  • SEAL

    1.0KRW

    --%

  • PXL

    8.7KRW

    -1.9%

  • HORUS

    0.5KRW

    -13.9%

  • PUB

    0.3KRW

    -23.2%

  • NPER

    3.5KRW

    --%

  • PUT

    2.3KRW

    -23.3%

  • CCH

    0.1KRW

    -10.6%

  • KNT

    0.1KRW

    -39.0%

  • IQ

    6.2KRW

    -7.7%

  • RBTC

    11,914,626.5KRW

    -0.4%

  • BLACK

    1.3KRW

    -3.6%

  • CET

    23.1KRW

    3.2%

  • RCD

    3.0KRW

    --%

  • MCC

    3.0KRW

    --%

  • INC

    2.5KRW

    7.8%

  • BZKY

    0.3KRW

    --%

  • BORA

    17.1KRW

    -4.9%

  • CRE

    2.9KRW

    0.6%

Community

FLETA — Providing Blockchain as a Service — Part.2

Fleta | 05.22| 104

FLETA — Providing Blockchain as a Service — Part.2

The Blockchain-as-a-Service (BaaS) model is one of the most in-demand business models in the world right now. BaaS vendors provide services like user authentication, database management, remote updating, and push notifications (for mobile apps), cloud storage, and hosting. Several companies have started providing BaaS services like Microsoft with Azure and R3. In this article, we are going to see how companies benefited from the incorporation of BaaS and how FLETA is looking to revolutionize this space with their Gateway Protocol.

Successful BaaS Integrations

Case Study #1: 3M and Azure

The 3M Company is an American multinational conglomerate corporation operating in the fields of industry, worker safety, health care, and consumer goods. Since they are one of the major players in the pharmaceutical business, they are well aware of the “counterfeit medication” problem.

When you look at a particular tablet, how do you know for sure that is made of the correct ingredients?

As much as you would want to believe otherwise, the fact remains that the market is flooded with counterfeit pharmaceuticals. Oscar Naim, the Lead Software Architecture Specialist at 3M, says, “Counterfeit pharmaceuticals are a $200 billion problem that impacts bottom lines and threatens public safety.”

To counter this problem, 3m turned to Microsoft Azure to boost their supply chain via blockchain integration. The company created a new solution concept, which uses blockchain on Azure with Azure SQL Database for storage.

By leveraging the blockchain’s transparency, 3M will be saving huge amounts of time and money in tracking down counterfeit pharmaceuticals. As Naim puts it:

“3M combined tamper-evident prototype labels with blockchain on Azure to create a label-as-a-service supply chain solution concept that can help identify counterfeits, protect business performance, and enhance consumer safety.”

Case Study #2: 50 banks and R3 Corda

A little over a week back, more than 50 banks, including ABN Amro, Standard Chartered, ING, got together and participated in tests of a trade finance application called Voltron. Voltron was developed by R3, using their Corda platform, and it creates a simulated letter of credit transactions.

As per R3, the main aim behind Voltron’s creation is to improve “the trade finance process by simplifying letter of credit transactions to deliver speedy settlement times and resolution of discrepancies, as well as improved sanctions screening.”

During the testing, the banks who were based across 27 countries, used Voltron to conduct processes which are traditionally paper-based and takes approximately 5–10 days. They found out that Voltron could process these transactions within 24 hours, saving a humongous amount of time and money. The trial was delivered on Microsoft’s Azure cloud platform in a collaboration between Bain, CryptoBLK, and R3.

According to the test results, R3 found out that 96% of the trial participants concluded that Voltron would help them improve trade finance processes and reduce costs.

Alfa Bank’s head of innovations, Denis Dodon, said, “Everything is done in the same interface, which is connected to all the workflow participants, information is shared instantly, what will significantly expedite the transaction, optimizing working with documents, which could be rectified in an instant way should there be any discrepancies identified.”

As per R3, the most significant advantages of Voltron are:

  • Higher speed: Voltron removes time-consuming reconciliation processes by providing a single, immutable record of a trade.
  • More reliability.
  • Cost-effectiveness.
  • Reduction in fraud risk.

R3 CEO David E. Rutter believes that Voltron, and the way banks came together to hold the trial, is a “step closer to shaping what the future of trade finance looks like.”

FLETA and the Gateway Protocol

We have talked about FLETA’s Gateway services in detail before, which you can read over here. FLETA’s Gateway system allows different projects to interact with each other. Its innate scalable architecture, which utilizes the novel Proof-of-Formulator consensus protocol assures high throughput and low latency. However, what is genuinely unique about FLETA’s Gateway is that it will permit all projects to use the FLETA service chain, which is both fast and cheap.

Let’s do a quick overview of the advantages of FLETA’s Gateway Protocol:

  • FLETA already utilizes a proven and fast consensus mechanism.
  • FLETA’s service chain provides a BaaS service which is fast, cheap and is built on strong fundamentals.
  • FLETA’s robust architecture and design (validator nodes) will help bring in added security to your project.
  • Projects have the freedom to set the transactions for free so that users can use the chain without any expenses.

Conclusion

FLETA’s Gateway protocol provides a unique BaaS service, which is extremely fast and cheap for companies to use. We believe that by leveraging FLETA’s innate scalable architecture, the companies will receive a massive boost to their operations and functionality.


FLETA — Providing Blockchain as a Service — Part.2 was originally published in FLETA on Medium, where people are continuing the conversation by highlighting and responding to this story.

Comment 0

delete

Are you sure you want to delete this post?