Technology giant Intel has partnered German enterprise software maker SAP to create blockchain technologies to integrate them with new and existing business applications for enterprises.
The use of blockchain technology in enterprise will enable decentralizing business applications for greater flexibility, transparency, and scalability.
SAP and Intel are performing benchmarking studies to analyze blockchain metrics such as transactions per second to identify network bottlenecks that could be optimized with more powerful, higher performing technologies.
Under the partnership, SAP will use its recently launched SAP HANA Blockchain adapter to create blockchain solutions that helps customers establish trustful networks and transparent business processes.
SAP will also offer Blockchain-as-a-Service (BaaS) on the SAP Cloud Platform Blockchain, which allows customers to integrate enterprise and blockchain data in a pay-as-you-go model.
Meanwhile, Intel will bring into the partnership its processor technologies that have unique capabilities to help improve the privacy, security, scalability, and trust across blockchain networks.
Enterprise blockchains will create a mechanism for reevaluating and speeding up existing business processes, particularly across corporate boundaries, by reducing process steps and providing greater transaction consistency.
By eliminating the need for a central authority, blockchain technology simplifies electronic payments, mitigates transaction risk, and increases efficiency.
The two companies have recently expanded their ongoing collaboration into blockchain technologies, after working together for over 25 years around innovative enterprise infrastructure platforms that are optimized for real-world, business-critical applications.
Intel and SAP have also joined a global industry blockchain consortium to expand and accelerate business adoption and best practices for blockchain solutions in the enterprise.
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