Several challenges have been hindering businesses these days. One of those is the issue of trust in data exchange with other parties’ and their corresponding agreements. The blockchain gives new capabilities with transparent, peer to peer information exchange and establishes a common ground in disputable areas. Such information exchanges are of limited coverage, fulfilled by complicated and costly middleware interfacing products and not yet open to true peer to peer transparency and trust.
SophiaTX Blockchain intended at such peer to peer data exchanges that give a complete set of tools enabling developers to create and publish applications which utilize the power of the blockchain and distributed data integrated with ERP and CRM solutions.
The Blockchain For Business
SophiaTX Blockchain is the first platform concentrating on uniting blockchain with SAP and other major ERP, CRM, and SCM systems striving to extend the opportunities of enterprise applications with the trust and safety that attains with blockchain technology.
It can be considered of as three elements: a blockchain designed and developed primarily for a business environment, a development platform with integration APIs to SAP and other enterprise applications, and a marketplace for both industrial companies and a global community of specialists, advisors, and developers to buy and sell apps.
SophiaTX Blockchain is a public blockchain system with a focus on the application by enterprises of all sizes, from large global companies to small local businesses and ultimately to end consumers. It permits for companies to associate and participate in the whole value chain, allowing SophiaTX Blockchain the best potential drive for global adoption. This option, over the alternative of a private blockchain, advances the goal of creating an absolutely holistic collaboration.
Roadmap And Resolution
The present blockchain innovation is not suitable for mainstream adoption by enterprises. Hence, the key to achieving is for blockchain technology to have particular features needed by businesses. For instance, information privacy and encryption must be strengthened, while processing speed increased. Also, document preservation, auditability, and overall compliance must be discussed.
The investigation, which Equidato Technologies AG handled during summer 2017, has contributed key information in the development of the roadmap, which includes features guaranteeing the SophiaTX Blockchain is compliant and suitable for business. Also, it is necessary to design it at this stage as a ‘mission non-critical’ system so that it is entirely satisfactory by enterprise danger and audit bodies.
The roadmap demonstrates the most significant features and timeline for developing a business suitable blockchain and individual applications:
The SophiaTX Blockchain is fuelled by the SophiaTX Token (SPHTX) which is utilized to cover mining and business fees, enabling access and subscription to the development platform, marketplace, and in-app purchases. It is created for trading assets or micro-assets and services, know-how, process maps and blueprints, integration, and professional consulting services to facilitate stimulated adoption and application.
Once the SophiaTX Blockchain is completely started, it will use its exclusive token SPHTX. SPHTX will have various uses on the blockchain, inside the marketplace and will also be incorporated as a utility token in many decentralized applications (Dapps):
● Transaction fee and rewards for miners verifying activities and blocks on the blockchain
● Subscription to obtain rights to the SophiaTX Blockchain
● Reward distribution for buying and selling of assets in the marketplace (App Store and Dev Store)
● Reward for the developers when an end customer installs and employs a SophiaTX Application (Dapp license)
● Transaction and information storage charge for document file server
● Licensing for private Blockchain
SophiaTX Blockchain Definition
Before describing the procedure and approach for SophiaTX Blockchain, the team has evaluated the technological abilities of other blockchains to guarantee that they can genuinely add value and differentiate a commodity that will not only be suitable for the industry but also provide better functionality and features. They have studied many blockchains, but very few are focused on business and enterprise applications.