HANOI, VIETNAM / ACCESSWIRE / July 13, 2021 / 2021 has been a pivotal year in the advancement of blockchain and cryptocurrency adoption. While Bitcoin prices have served to keep crypto in the headlines, interest in blockchain technologies is beginning to take off. However, as with every wave of blockchain adoption, technological and user experience barriers continue to plague new users. Setting up even the simplest transaction types on a blockchain requires an understanding of programming and smart contracts.
Blockchain-as-a-service (BaaS) platforms emerged mainly in response to enterprise demand for support in navigating blockchain and all of its attendant issues.
What is BaaS?
BaaS providers operate a managed blockchain platform, supplying all of the infrastructures and often many of the tools needed to build full-fledged decentralized applications (dapps) for different types of users: individuals, merchants, or developers.
Using BaaS alleviates the need for companies to set up their own blockchain applications, allowing them to focus on how blockchain can solve their specific industry problems rather than concerning themselves with the fundamentals of the technology itself. In this sense, BaaS providers can be considered comparable to an enterprise cloud storage provider or a hosting service such as AWS or Azure, which are seldom managed in-house these days.
As a result of the rising interest in blockchain, the BaaS market is growing fast, expected to reach nearly $25 billion by 2027, with growth of around 40% CAGR over the coming years. It’s hardly surprising when you consider the alternative would be for a firm to hire in a blockchain development team which could cost upwards of tens of thousands of dollars – prohibitively expensive for companies that don’t have significant cash reserves.
However, despite the popularity of BaaS, the current landscape still assumes a certain level of technical expertise and complexity. For the average small business owner who’s read about the benefits of using blockchain in loyalty programs, or an artist looking to drop their latest album in NFT format to legions of followers, it’s not an invitation that’s likely to resonate.
That’s what makes Creator’s business model stand out against the competition.
Creator scales back the technical barriers to blockchain to their absolute limits, offering a BaaS platform designed to appeal to anyone looking for blockchain features with minimal fuss involved.
For instance, let’s say a band wants to create an additional revenue stream by selling digital merchandise to fans. Rather than engaging a developer or attempting to learn enough code themselves to create smart contracts, they can simply use Creators No-Code Smart Contract Service. It’s designed with an intuitive user interface to make it easy for anyone non-technical to own their secure and standard smart contracts. Any smart contract built using the Creator platform can be integrated to one of many big blockchain networks such as Creator Chain, Ethereum, Binance Smart Chain, KardiaChain, and many other chains in the future.
More importantly, the fact is that blockchain developers are in high demand and short supply. Not even development agencies or IT outsourcing companies necessarily have enough personnel with sufficient blockchain skills, or budget for specialized blockchain training, to provide such services.
In addition, the gap in trade financing around the world should be bridged by using blockchain technology, as reported by the World Economic Forum, which can be addressed by Creator’s Low Code DApp. SMEs now can use Creator’s Low Code DApp to create their DeFi and payment applications which will bring transparency and accountability, security and traceability, along with cost efficiency.
Two Birds, One Stone
Developers or service providers who are finding increased demand for blockchain-based services and applications can build DApps using Creator platform’s Low Code DApp. They don’t need to learn any specifics of blockchain programming. In this way, developers could offer a broader range of services to clients. At the same time, in-house IT teams with a general understanding of programming can leverage blockchain without having to hire in or outsource expertise in DApp development.
With Creator’s Low Code DApp, developers can significantly reduce the time and cost needed to get their clients up and running with blockchain services. As such, Creator aims to address the challenges of two groups – SMEs planning to integrate blockchain, and IT companies wishing to provide such services to their SME clients.
Creator is also developing a loyalty platform, enabling any enterprise, even a small local business, to set up a blockchain-based loyalty program out of the box. The platform is powered by the native CTR token, which is used to pay transaction and BaaS fees, trade NFTs, and exchange for loyalty points and gifts in the Creator ecosystem.
Creator is backed by VMO Group, one of Vietnam’s top 10 IT companies and it already employs teams of experienced developers under the guidance of experts. The project has also caught the attention of established investors in the blockchain sector, gaining backing from players including Master Ventures, Kardia Ventures, Exnetwork, and others. The project will launch the IDO for its CTR token on PAID’s Ignition launchpad later in Q3 of 2021.
For more information check out Creator’s website or follow them on social media:
SOURCE: Creator Chain
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