Changing business models with blockchain technology

Initially, Blockchain was used in accordance with Bitcoin as a technology to unlock cryptocurrency, however Blockchain has now freed itself from this and is just being discovered for its enormous potential in many fields.

One example is the ability to integrate with enterprise applications, such as SAP. This area was relatively untouched until recently, when Equidato Technologies announced its first project, SophiaTX, an open source blockchain platform and marketplace for companies of all sizes.

As the first platform focused on integrating blockchain with SAP and other key ERP, CRM and SCM systems, it extends the capabilities of enterprise applications with the trust and security of blockchain technology.

The platform can be thought of as three components. It consists of a blockchain, based on proprietary blockchain technology from Decent, designed and enabled specifically to power a B2B transaction platform; a development platform with integration APIs for SAP as well as other enterprise applications; and a marketplace for a global community of experts, consultants and developers to buy and sell apps.

SophiaTX uses a public blockchain platform focused on entrepreneurial engagement. A public blockchain allows businesses to participate and contribute, enabling global adoption.

This decision on the alternative of a private blockchain supports their goal of creating holistic collaboration at the B2B level. It is tailored to collaborative and decentralized Blockchain-enabled business models.

The flexible and scalable solution serves as a foundation for new applications with specialized processes and modules for companies where peer-to-peer architecture and decentralization are desired and beneficial.

The launch of their platform is supported by a marketplace that includes APIs and common building blocks specifically designed for widely used ERP and CRM systems and other business applications. Interconnectivity with the respective APIs is reinforced by the blockchain network.

The platform is powered by SPHTX (SophiaTX token), which covers mining and transaction fees and provides access and subscription to the development platform, marketplace and in-app purchases.

It is designed for asset or micro-asset trading and microservices, expertise, process maps and blueprints, and integration and professional consulting services to enable accelerated adoption and application.

SophiaTX will launch an ICO (initial coin offering) where first-time investors can be the first to have the SPHTX token in their hands even before it is released on major exchanges.

It is an opportunity for the backers of this project to be directly involved in the bulk of the funding. In return, they receive the crypto tokens that can be used on the market for a variety of engagements.

The funds raised from their ICO will go directly into the development, marketing and ongoing management of the project. Investors can be confident that there is an excellent team behind this project, with experience and expertise in blockchain and business application integration.

The platform hopes to become a staple for global blockchain integration for companies of all sizes.