SophiaTX is a Blockchain Platform and Marketplace integrating business applications and solutions into a collaborative environment. As an open source platform,contains integration APIs to SAP and other enterprise software, covering leading ERP, CRM and SCM systems.
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Blockchain for business
Many ERP vendors and technology companies are investigating the usage of blockchain in a multitude of different areas. The approach offered often takes them to either private or consortium based approaches which do not cater to open holistic collaboration across industries and value chains. The approach by SophiaTX offers a true and open public blockchain, which is significantly more advantageous in addressing the entire value chain allowing businesses of all sizes to participate and collaborate.
The current blockchain technologies not suitable for mainstream adoption by businesses as highlighted in the previous section. Therefore, key to success is for blockchain technology to have specific features required by businesses. For example, data privacy and encryption must be strengthened, while processing speed increased. Also document retention, auditability and overall compliance must be addressed. The analysis, which Equidato Technologies AG conducted throughout summer 2017.
Multi-party information exchange
This use case is primarily applicable where collaboration of multiple parties is required with objectives of a common and well aligned goal. The use of blockchain allows transparent and efficient exchange of information and at the same time it provides the transparency required for a fair and trusted award of bonuses and penalties related overall performance. In this case good example is collaboration of multiple vendors on project, where blockchain is used to synchronize delivery dates of all project deliveries and overall schedule.
The use of blockchain technology provides secure and provable mechanism for the transfer of the invoice information to the end customer. The information can be read directly by the ERP without the need for additional third-party system integration. The use of blockchain provides a guaranteed and provable method of delivery, so in a dispute situation there can be no argument that the invoice was not sent as the transaction information is stored on the blockchain and can be retained as proof.
Providing the product authenticity in the SophiaTX Blockchain enables pharmaceutical companies to address counterfeit issues, helping to decrease the number of counterfeits on the market, and consequently eliminating adverse effects on the end user. Logistics and distribution companies use various backbone systems to collect the data from a multitude of sources. The most innovative companies have installed IoT and other smart devices in
their fleets, collecting temperature, humidity.
The Data Store holds the encrypted transactional information and documents which are too sensitive to place onto the blockchain. The Data Store will comply with the company’s local legal requirements for data capture and storage and will utilise the SAP HANA Database technology, with the encrypted data being stored using a multi-container, multi-tenant approach. SophiaTX Blockchain will provide an Eclipse13 plugin and the user will be required to enter their user details (username, password) and private key.
The Marketplace web based solution and entry point for customers and solution developers and contains two primary areas App Store and Dev Store. Customers will be able to view and purchase applications developed for SophiaTX Blockchain,while developers are given the option to download the API and submit their own applications for testing prior to the release in the App Store. A published application is going to contain a unique license key used within the blockchain as a method of remuneration for the developer.
Kok Weng Choo PLATFORM DEVELOPMENT LEAD, APAC LEAD
Marian Rajnic LEAD ARCHITECT
Oliver Lienhard SENIOR ARCHITECT
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