And also made a significant announcement concerning its work on distributed ledger technology (DLT), releasing the SAP Cloud Platform Blockchain as a new “blockchain-as-a-service” for enterprises.
“This blockchain-as-a-service (BaaS) provides the easiest, lowest-risk gateway to experimenting with distributed ledger technology in the cloud,” so the company’s description of the product. “Eliminate the need for a large upfront capital investment and fast-track blockchain implementation across your business.”
Most SAP clients are still in an early adoption phase, but SAP is already providing DLT services to its clients, says Gil Perez, senior vice president for product and innovation and head of digital customer initiatives at SAP, as reported by TechCrunch .
“SAP is taking an agnostic approach” to the underlying blockchain technology. DLT is still in an early development phase, and “SAP doesn’t want to commit” to any underlying blockchain “until the market decides which way to go.”
A new day of corporate crypto is already upon us. IBM (IBM – Get Report) was the first software giant to stake a claim in blockchain, the technology that underlies cryptocurrency, by launching a “blockchain-as-a-service” product assisting developers in building blockchain apps. Oracle (ORCL – Get Report) rolled out a similar service, followed by Amazon (AMZN – Get Report) , Microsoft (MSFT – Get Report) and SAP (SAP – Get Report) in short order. Alphabet (GOOGL – Get Report) is reportedly doing the same.
SAP also announced its Cloud Platform, targeted at clients in regulated industries such as banking, healthcare and transportation, as well as those managing sensitive data.
“Our early access customers and partners can join SAP to get a first-mover advantage innovating and scaling blockchain [technology] as a core part of their Internet of Things strategies,” said Tanja Rueckert, president of IoT and digital supply chain at SAP.
“SAP is steadfast in its belief that the technology can dramatically alter business processes and IT. Blockchain [technology], along with machine learning and artificial intelligence, are seen as cogs in what SAP is betting will become the intelligent enterprise.”