- New network enables customers and partners to integrate different blockchain infrastructures
- Of the 2 programs, one will address pharmaceuticals and life sciences industries, and the other for agribusiness, consumer products and retail
- Companies in different industries are exploring different use cases for blockchain technology
Software Multinational SAP this Tuesday announced the launch of two new consortia that will help boost industry-specific blockchain-based innovation between customers and partners. The company also unveiled two new services that will assist customers to integrate the Distributed Ledger Technology (DLT).
Revealed in Las Vegas
The German software development company made the announcement on October 2, 2018, during its TechEd event taking place in Las Vegas from October 2-5.
The company proposed the new services as Network Extensibility for Open Business Collaboration, which will provide network extensibility solutions that will enable clients to assimilate different blockchain infrastructures and configurations conveniently.
The network extensibility features will facilitate interplay between SAP-based nodes and others besides helping to integrate SAP’s blockchain Apps with externally operating nodes and networks. The new solutions will also assist clients to meet specific regional, hardware and regulatory requirements.
According to the announcement, SAP will also support Quorum, an Ethereum based blockchain ecosystem targeting businesses. The aim of the initiative is to ensure there is complete flexibility to complement SAP’s current support for Hyperledger Fabric and MultiChain. Early adopters have access to Quorum and it helps them access permissioned networks and Ethereum-based smart contracts.
Apart from the two new services, SAP also unveiled two new industry consortia running on the SAP blockchain Consortium program. The first group targets the pharmaceutical and life sciences industry and the second one will target agribusiness, consumer products, and retail market. Commenting, the head of digital customer initiatives Gil Perez said:
“Blockchain presents a powerful way to create greater trust, transparency and simplified collaboration among businesses. SAP empowers customers to harness the value of blockchain by offering easy integration, technological flexibility, and industry-specific co-innovation.”
The two new conglomerates come as an addition to SAP’s existing high-tech industry group, which has been on an expansion spree since it was founded at the beginning of 2018. SAP serves over 35 firms and organizations in three consortia that include companies like GlaxoSmithKline, AmerisourceBergen, Arvato, Maple Leaf Foods, and CONA – Coke One North America. In June 2018, SAP unveiled its blockchain-as-a-service (BaaS) solution to all its customers, a service that was only available for only 27 companies at the beginning.
SAP’s expanding influence with blockchain is happening when more industries are seeking to explore the potential of the Distributed Ledger Technology, especially in enterprise applications. Gil Perez added:
“Blockchain presents a powerful way to create greater trust, transparency and simplified collaboration among businesses, SAP empowers customers to harness the value of blockchain by offering easy integration, technological flexibility, and industry-specific co-innovation.”