A vital component of this growing technology is Blockchain. Blockchain technology allows businesses to exchange data quickly and securely without compromising security. Neither party is responsible for securing or settling any transaction. Blockchain technology tends to be very complex, and building, maintaining, and monitoring blockchain systems can be far too time-consuming for specific applications.
As Blockchain as a service (BaaS) becomes more popular, organizations can adopt distributed ledgers as a more accessible alternative, especially in reducing costs and overhead. Blockchain solutions have extensive real-world applications, but the industry is still struggling to reach its full potential. Blockchain can also be offered as a cloud service. Why is that? Provide maximum benefit to your target audience through blockchain-based services. According to forecasts, global blockchain solutions spending will grow to $6.6 billion in 2021, and blockchain solutions spending is projected to reach about $19 billion by 2024.
For more details: Introduction To Blockchain-as-a-Service (BaaS)