EOSIO Blockchain as a Service: What to Expect

It’s a month since the launch of EOSIO’s blockchain for a business solution. Here’s what you can expect from their new blockchain as a service approach.

Photo by Hitesh Choudhary on Unsplash
Photo by Hitesh Choudhary on Unsplash
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LONDON (Bywire News) - Last month Block.one set its sights firmly on the blockchain enterprise sector with its release of Blockchain for Business. A key pay of that is their Blockchain as a Service solution which, as they said in a tweet this week, aims to help businesses achieve their key goals.

The growing interest in the blockchain is seeing the rapid emergence of the concept of Blockchain as a Service. According to a study from ResearchandMarkets, the market stood at USD $420.5 billion in 2019 and is expected to grow by more than 15% annually to hit USD $982bn by 2025. 

The expansion of the cryptocurrency market businesses is gaining exposure both to crypto and the blockchain technology underpinning it. However, it requires a huge amount of investment to get it up and running and still suffers from a lack of awareness. 

Across all industries, people are aware of the blockchain, they know some of the things it may do, but they still do not know what it is or how they can incorporate it into their business operations. 

With Blockchain as a Service, EOSIO and other providers are looking to take that interest and convert it into real adoption. They offer an easy way for companies to reduce the complexity of blockchain maintenance, reduce setup and maintenance costs and harness the skills of subject matter experts. 

The big example of EOSIO, they say, is that it’s the only blockchain network protocol to offer an in house hosting solution. As such, it is finding ways to smooth the process of blockchain adoption and offer more value to companies. 

This is enabling companies to adjust their business offering and unlock a host of new and hitherto undiscovered opportunities, as Rudy Koch, CEO of games company Mythical explains. 

“At Mythical, we are redefining game economies and creating new revenue opportunities by putting more power and ownership in the hands of players and content creators,” he says. “EOSIO is an integral part of our efforts. Leveraging EOSIO BaaS enables us to continue delivering world-class game technology products to our players and partners, beginning with Blankos Block Party.” 

EOSIO is betting that companies such as Mythical will continue to embrace the blockchain and that they can position themselves as the blockchain of choice for the business community. 

(Written by Tom Cropper, Edited by Klaudia Fior)

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