Blockchain for Business. Группа авторов
To make the work more effective the token can take many roles as possible.
2.3.2.3 Model 2: BaaS
This model provides the link between the organization and the companies with blockchain platform. For example when a singer records a song, all the backend materials need consideration by the music director including mike, lyrics, recording room and bass volume, maintenance of software records, etc. which tend to be time-consuming and expensive. BaaS works as similar type handles, all the backend things so that the music director gets only focused on song without concerning himself about the infrastructure, costing and maintenance. It enables the client to focus only on the frontend instead of backend stuff. An agreement has been made between the organizations in which BaaS agrees to be responsible for all the blockchain technology including monitoring of the system, management of bandwidth and providing security of system against hacking attacks. By making contract with the BaaS partners the startups/entrepreneurs transfer the load of infrastructure and system performance allowing them to focus on their main business and competitive strategies. BaaS enables customers to develop their own blockchain applications by using cloud-based services, ensuring its functioning, hosting and usage which resemble that with the web hosting providers.
Apart from this if entrepreneur manages to get blockchain up, then he/she has to deal with all the maintenance. The can be overcome by making smart contract with the organizations with blockchain technology platforms.
In the market there are some famous existing BaaS providers such as: Oracle, IBM-blue mix, Google Firebase Microsoft-Azure module and Amazon-AWS. It includes providing businesses with an ecosystem to help manage their blockchain system. The costing varies while using Baas services. It depends on multiple factors like how much transaction has been done, how many simultaneous transaction made at what rate. It implies pay according to the units of the services that are in use.
2.3.2.4 Model 3: Securities
The security which is provided on the blockchain is called as securities. Many of the convenient businesses have moved towards new technology including finance and stock market. Another name for security tokens are equity tokens, which are regulated by the government in comparison to the utility one. They provide more speed and soothe blockchain to the traditional businesses by ensuring security against any bug or fraudulent activities.
Security Token is Equal to Investment Contract
Assets like four-wheeler, real estate or stocks of organizations—which contain some value. For these assets, security tokens are the bonds (smart contracts) containing fragment of amount. This token ensures the freehold of any strong suit that is stored and secures on the new technology platform. After verification of the proprietorship the people who hold security token can:
Be beneficial for other investment.
Be used as an assurance for sanctioning of loan.
Can be put in distinct pocketbook.
2.3.2.5 Model 4: Development Platforms
The blockchain is a space where many entrepreneurs and startups are landing with the agenda of solving their problems in a different manner. Most of them are developing decentralize applications.
As stated by Metcalfe’s Law, the more networks in use, the more will be its value. Like with two telephones, you are only able to make a single connection, if there’s single phone it is useless, by using the formula
n(n − 1) / 2
2 ∗ 1 / 2 = 1.
However, when there are 5 phones, you can make 10 connections. Involvement of enormous people makes the network more in use. That’s why most fortunate networks can enjoy severe aggressive hike.
There are three models which are specific:
Charging Fees for using network.
Recruiting Auditors.
Other Services.
1 a. Charging Fees for Using NetworkEthereum requires gas for producing fuel which is helpful in running of blockchain 24 days and 7 nights. Anyone who develops dapps on this platform pays an amount similar to toll tax payable in the form of gas fees. The charges depend on the completion of the transaction, how much complex it is varies accordingly. Gas tokens are used in NEO for creating dapps. The tokens which can be purchased and sold are Golem Network Tokens. GNT is a method of payment for computation of the resource providers. One pays what for the service is measured by GNT.
2 b. Recruiting AuditorsIf in case it was found that transaction record on blockchain is illegal or not authorized or classification is not done correctly then this led to the need of an auditor to carry out its procedure on management’s estimates. Even if we say blockchain does not require a third party but when it comes to check whether the product was solely delivered and does not require an auditor to go through the transactions process. When the organizations make business with other parties, they prefer auditors to verify smart contract as these contracts are for automation of the process of business. Decentralized applications consume a very big amount for the working of the code appropriately. If there is a minor bug it will lean towards the failure of the entire system. A recent example of this is a DAO smart contract which led to the split of Ethereum community into Ethereum and Ethereum Classic.This model can work in two ways:The smart contract needed to be checked—developers need to hire the auditing company.Independently auditors and developers check the code and look for defects if they found any in the code. Also, the developers put up a premium on their contract.
3 c. Other ServicesA blockchain startup needs lots of work. The startup first requires a website with good content and frameworks. These startups either recruit freelancers or agencies to save both time and money including taking care of these services for them.
2.3.2.6 Model 5: Blockchain-Based Software Products
This includes small scale businesses which sell to the higher scale businesses in return for reasonable amount for the applications based on the technology. Apart from getting a reasonable payment upfront, exposure of blockchain technology to the organizations is beneficial to them. They will also need to provide support post-implementation. Media Chain blockchain