The Union Ministry of Electronics and Information Technology (MeitY) has launched the Vishvasya-Blockchain Technology Stack.
It will offer Blockchain-as-a-Service (BaaS) with a geographically distributed infrastructure designed to support various permissioned Blockchain based applications.
MeitY also unveiled the NBFLite-Lightweight Blockchain Platform, Praamaanik – an innovative blockchain-enabled solution for verifying mobile app origin and National Blockchain Portal.
Blockchain-as-a-service (BaaS) refers to third-party cloud-based infrastructure and management for companies building and operating blockchain apps.
BaaS is based on the software as a service (SaaS) model and works similarly. It allows customers to leverage cloud-based solutions to build, host, and operate their own blockchain apps and related functions on the blockchain.
At the same time, the cloud-based service provider keeps the infrastructure agile and operational. As a development in the greater blockchain ecosystem, BaaS is seen as boosting blockchain adoption across businesses.
