871
views

Top 10 Blockchain-as-a-service (BaaS) companies to watch in 2022

Blockchain technology is rapidly changing how many interact with the business world. However, few people and companies still understand its great future potential like any recent invention.

To support companies of various sizes to understand and use a blockchain system, we have seen the proliferation of specialized consulting firms. This sector is known as BaaS (Blockchain-as-a-service), and it promises to be one of the fastest-growing markets in the coming years.

This article will briefly analyze the BaaS sector and mention the most exciting companies in the industry given 2022.

The most popular sectors for blockchain technology

We read news of blockchain technology applications to new economic sectors more and more frequently. Some industries seem to be keener on integrating this new tool, and the list below may change over the next year:

  • finance: from banking to stock trading, from loans to crowdfunding, the transparency of blockchain transactions is solving many problems in the financial world
  • Travel and mobility: think, for example, of a world in which each car’s right is stored in a blockchain. Life may get harder for car stealers in the future, with a decrease in insurance prices
  • copyrighting: services such as 3D printing may cause copyright violations. By connecting each work to a public blockchain, it will always be possible to track any issue on the matter
  • healthcare: storing private data of patients in a blockchain may be a secure and efficient way to share medical information with hospitals and doctors

The above list could be much longer. In the following section, we will cite some of the most interesting BaaS companies that are helping so many industries to grow innovatively.

The most interesting BaaS companies to watch in 2022

Every quarter, the world is witnessing the emergence of new ideas in the blockchain industry. This rapidity of change is one of the most exciting factors in the sector. Selecting just ten BaaS companies from so many alternatives is complex, but we’ll try to give you insight into some good stories.

The companies below could be third parties able to design, develop and maintain a blockchain on behalf of their customers. No company with a monopoly in the sector exists. And, the entire revenue splits between thousands of small players (with a few larger ones).

Blockchain and finance

The financial sector is, to date, the one that is benefiting most from blockchain technology. The applications of this new way of managing data are innumerable, and we are sure that we will see exciting news in the future.

PayStand, for example, is having success in the payments sector thanks to the transparency typical of the blockchain. The rapidity of the transaction and the simple traceability of the money are revolutionizing the new payment systems. In the future, paying online will be a quick and transparent operation, with a potential reduction in criminal activity.

On the other hand, Symbiont is helping many banks move their lending to the blockchain. The public ledger makes it much easier to identify late payments from debtors, simplifying fraud detection.

Many have often associated the circulation of cryptocurrencies with criminal activity on the dark web. For this reason, companies like tZero can create “digital local receipts” for each crypto transaction.

The trading world is also not indifferent to this technology. Paxos, for example, is a company that is trying to bring the circulation of assets entirely to the blockchain world. The purchase or sale of stocks on the stock market could one day take place on one of these platforms.

Blockchain and security

In a world where much sensitive data still travels directly via email, companies like Dragonchain promise great success in the future. Born within Disney, Dragonchain creates blockchains for companies to save the most sensitive data and put them into circulation internally.

Cybersecurity experts have always paid attention to customer privacy and authentication on a website. Bloq is a BaaS company specializing in creating blockchain systems in this area.

Documentation auditing can be a headache in many large companies. Also, they usually feel the need to delegate the task to an entire team of experts. This system is not efficient, and Factom uses a data encryption system that promises to reduce audit times in the future.

Are big companies working on BaaS?

If you believe that only small companies unknown to the public are working in the BaaS sector, you are wrong. On the contrary, giants such as Amazon, through AWS, are investing a lot of resources in this industry.

Competing with AWS is quite difficult for the vast majority of companies in the industry. However, an exception is represented by another veteran of the tech world: IBM. The IBM Blockchain package offers several solutions for companies interested in using this technology.

Finally, Oracle is not letting the opportunity of the century slip away. The company has created a BaaS service working essentially like SaaS, which brought Oracle success in the past.

What to expect in 2022

When the internet was born, no one could have imagined using a telephone to buy Christmas presents in the future. Likewise, the world is still trying to understand what is possible with blockchain technology.

Blockchain technology is solving a series of problems that have plagued humanity for centuries. The world of the future needs speed, the ability to process large databases, transparency, and environmental efficiency.

Blockchains are proving to be fast, transparent, and computationally efficient. However, the debate on their environmental impact is still open. And, probably, we will see essential steps forward in this regard in the coming years.

It will be interesting to observe how the BaaS market will compose itself in 2022 and beyond. In the past, new technologies have seen the birth of new companies that large multinationals have acquired at times.

Bitcoin live price
Btc
Bitcoin
$16.392,72
price
0.7642%
price change
BUY NOW

Analyzing history, we will probably see many small entities join the big companies of the tech world. However, some of these small companies may find a way to increase, becoming increasingly important in the industry.

Stay up to date with our latest articles

More posts

Smart Contract Security – Pitfalls and Solutions

Smart contracts are becoming increasingly prevalent as the world moves towards a more digital and automated future. Still, they are far from being the panacea of all technological ills. Smart contracts are self-executing contracts with a predetermined set of rules. They are stored on the blockchain and run by computers, which makes them tamper-proof and reliable. However, as with any new technology, smart contracts have associated risks. This article will explore some of the most common pitfalls and how to…

Looking for Crypto Marketing? Here are The Best Crypto Advertising Agencies in 2023

It is vital to have a strong marketing strategy if you wish to succeed in cryptocurrency. This is where crypto marketing agencies come in. You may successfully promote your project and reach your target audience through a crypto marketing agency.  This article will explore the top crypto marketing agencies in 2023. Moreover, we will look at their services and how to choose the right one for your project.  We will also discuss the benefits of using a crypto marketing agency.…

The Risks of Investing in Crypto Projects without Smart Contract Audit

Smart contracts are self-executing contracts that run on blockchain technology. They are stored and verified on the blockchain, which means they are transparent and cannot be tampered with. This makes them a secure way to conduct transactions without needing a third party.  Despite their many advantages, some risks exist with using smart contracts. One such risk is investing in crypto projects that have yet to have their smart contracts audited by a qualified auditor.  Without an audit, it cannot be…

Top Smart Contract Audit and KYC Companies in 2023

It's no secret that business is undergoing fast change. Companies must adapt when new technologies, like smart contracts, emerge to remain competitive. A crucial part of this adaptation process is ensuring compliance with regulations and safety. This is where a company's KYC (Know Your Customer) process or smart contract audit come into play.  To ensure that your company is compliant, working with a reputable smart contract auditor or KYC provider is essential. This blog article discusses the benefits of using…

Top 5 KYC Solutions for Crypto or NFT Projects

As the importance of blockchain technology grows, many people look for ways to get involved in the crypto world. One of the most important aspects of any cryptocurrency or blockchain project is KYC/AML.  Without proper KYC/AML procedures, your project could be at risk for fraud and illegal activities. This article will discuss the types of KYC solutions available and how to choose the right one for your project.  We will also provide tips on how to implement these solutions properly.…

Malicious Attacks on Smart Contracts that Auditors Can Easily Identify

With many businesses adopting blockchain technology and Smart Contracts, offering reliable security audits in the industry has become increasingly important.  Businesses may protect their assets and contracts by recognizing and preventing harmful assaults. This blog post will explore the different attacks a group of criminals can carry on Smart Contracts. We'll also look at real-world instances of assaults to help you secure your contracts. What are Smart Contracts? Understanding the Benefits of This Technology What are smart contracts? They are…

How Smart Contract Audit Can Help Prevent Hacks

As companies move toward implementing smart contracts, the need for technical audits becomes increasingly essential. Having a third-party auditor check your contracts for vulnerabilities can prevent your company from suffering from a hacking attack.  What are Smart Contracts? A smart contract is a script that automatically carries out a contract's provisions. Smart contracts are self-executing, meaning that once the system verifies the meeting of pre-determined conditions, the contract will automatically execute. This eliminates the need for intermediaries such as lawyers…

Understanding the GameFi Phenomenon

The GameFi industry is changing the way people think about gaming and finance. It provides a new way for gamers to interact with each other and earn money. It is also giving people a new way to invest their money.  The GameFi industry has the potential to change the way these industries operate. This guide will look more closely into this new business, covering several features. What Is the GameFi Sector? The GameFi sector is a crypto-based industry that uses…

How to Spot a Pump and Dump Scheme in the Crypto World

Cryptocurrencies have taken the world by storm, with their values skyrocketing over the past years. This has led to a huge rush of investors ignoring how to recognize a pump and dump operation. As a result, many people have lost money by investing in fraudulent schemes. This guide will teach you how to identify a pump and dump scheme and protect yourself from becoming a victim. We will also provide tips for spotting legitimate cryptocurrency investments and advise you on…

Understanding the Difference Between Solo Staking and Pool Staking

Solo staking and pool staking are two of the most popular methods of mining cryptocurrency. But what are they, and which is suitable for you?  This post compares solo and pool staking so you can choose the optimal strategy. What is Solo Staking? Solo staking is when users stake their coins by themselves to receive block rewards. By having a staking wallet online, you may receive incentives.  The main advantage of solo staking is that users get to keep all…