VeChain has announced the launch of a new platform that will make it easier for businesses to integrate VeChain with their activities. With its new ToolChain suite, VeChain will offer blockchain-as-a-service solutions which will allow small and medium enterprises to make use of blockchain technology in a simple and affordable manner.
How Does It Work?
Blockchain-as-a-service (or BaaS) platforms are simply blockchain systems, tools, or apps that can be deployed without any technical expertise on the part of end users. By automating the set-up process, costs to users can be reduced dramatically. Microsoft Azure is well known for offering blockchain services in this way.
However, VeChain ToolChain differs from other blockchain-as-a-service platforms in a few notable ways. For one thing, it claims to be the first commercial BaaS built on a public blockchain. ToolChain is also a vertical application, meaning that it will meet the needs of users in a specific area—in this case, it will focus on product life cycle…