SophiaTX has announced that it is working on a platform which would integrate blockchain technology with the SAP software. The SAP software is one of the most widely used as it is used by at least 87% of the global businesses. That is why this integration of blockchain technology with the SAP platform is actually pretty significant.
According to the white paper which was published by the company, the blockchain technology would be integrated with enterprise resource planning as well as other such applications which are created using the SAP software. It would be creating an open source blockchain based platform as well as a marketplace which would be suitable for businesses of all sizes.
The platform would further get into blockchain technology with the ERP as well as CRM and also SCM. This would ensure that the software which are based on the SAP platform become even more efficient. SAP is already trying to move to the cloud in order to make the platform much more efficient. In May, SAP launched the upgrade to its platform which was based on the cloud rather than on normal servers. With the integration of blockchain with the SAP platform, the efficiency of the platform would rise further.
SAP is also trying to integrate its software with other newer technologies like the Internet of Things. Once blockchain technology, as well as the Internet of Things, is integrated into the SAP platform, you can be sure that the applications for which the SAP platform can be used would increase drastically. According to the CEO of SophiaTX, the aim is to create value by integrating two of the most advanced technologies which are available currently. If indeed, the company is able to integrate SAP with blockchain, one of the main differences would be the decentralization which would ensure that the cost of the companies in order to maintain the ERP as well as CRM software would go down significantly. Also, the security which would be provided as well which would ensure that the data of the companies is completely safe.
Further, scalability would be provided to the platform which would ensure that companies are able to utilize the resources according to their requirements quite easily. Thus, this can be a game changer as SAP is used by almost all the Fortune 100 companies and this integration would indeed increase the efficiency of that platform.
Tugba Kaplan - Tech Journalist
Tugba Kaplan is a journalist with more than 8 years of experience. She is an award winning correspondent. She has worked for Article 19 / The Guardian Foundation/ P24 Knowledge Right Project. She has participated in See Media Observatory in Macedonia. She was Research Fellow at Friedrich Ebert Foundation in Germany.