Blockchain Technology and SAP

Originating in 2008 when it was first invented for bitcoin cryptocurrency mechanisms, Blockchain technology can apply to a whole lot of different industries and use cases: everything that can be assigned a value or rights, and be part of a transactional record. It is based on a distributed ledger, which is a database consisting of transactional records – blocks, stored in a chronological order – a chain. The database is controlled by algorithms, not the content itself, which means that every participant or user can access, verify and accept or reject the object of transaction.

SAP has developed and offers products that are based on a blockchain, and has acquired customers ready to use it in different areas, from asset management and audits, public administration to disaster management.

SAP Blockchain Solutions are concentrated around the SAP Leonardo system, which consists of a number of innovative technologies, including Machine Learning, Design Thinking or Internet of Things. Based on the HANA database model, this platform can leverage the capabilities of Big Data storage, analysis and processing. SAP Leonardo is currently offered as a SaaS (Software as a Service) model, delivered in the SAP Cloud.