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Blockedge Technologies launches BaaS platform for automotive and supply chain markets

Blockedge Technologies launches BaaS platform for automotive and supply chain markets

The company's BaaS platform stands in contract with built-from-scratch manual solutions, entails zero-coding, facilitates the generation of iterative dApps, provides multi-cloud and multi-chain support.

Global market intelligence company IDC is expecting enterprise blockchain spending to reach $6.6 billion this year. Global market intelligence company IDC is expecting enterprise blockchain spending to reach $6.6 billion this year.

Blockedge Technologies Inc., a subsidiary of SecureKloud Technologies Ltd. announced the launch of its Blockchain Network Management Platform, a Blockchain-as-a-Service (BaaS) service on Thursday. 

The company's BaaS platform stands in contract with built-from-scratch manual solutions, entails zero-coding, facilitates the generation of iterative dApps, provides multi-cloud and multi-chain support, Blockedge said in a statement.

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Global market intelligence company IDC is expecting enterprise blockchain spending to reach $6.6 billion this year, but the adoption has its own share of challenges. Identifying and agreeing on the correct use case, ability to build and deploy scalable networks, integration with existing IT systems, and high-availability network maintenance are some of the blockchain adoption challenges faced by the industry leaders.  

Speaking at the launch, Kumar Guru, Chief Growth Officer at Blockedge, said, "Blockchain technology, with its inherent security, trust, and transparency capabilities, enables companies to collaborate and solve shared challenges. But successful adoption depends on careful implementation. And Blockedge is well-positioned at the vanguard - assisting companies to adopt trust and accountability by design. The technology will evolve tremendously in the next couple of years, and Blockedge is fully geared to play a critical role in addressing the challenges that enterprises face." 

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According to MarketsandMarkets analysis, the global automotive blockchain market is projected to grow from $350 million in 2020 to $5.29 billion by 2030 at a CAGR of 31.19%, and the global manufacturing & supply chain market is expected to grow from $253 million in 2020 to $3.2 billion in 2026 at an impressive CAGR of 53.2%. 

Raghav Rao, Head of Presales at Blockedge, added, "We are known for simplifying and delivering cloud adoption, and blockchain is a natural progression for us. Our platform - Blockedge - is purpose-built to ensure seamless blockchain adoption with zero-coding efforts. With our vast cloud expertise, we are the one-stop-shop to explore and deploy multi-cloud and multi-chain networks, and excited to launch the platform for our customers, to abridge the trust gap over business transactions."