SAP SE is the world’s leading manufacturer of ERP systems and other enterprise management software, headquartered in Waldorf, Germany, which examines various areas of application of blockchain technology in its projects. The company’s developers research center in Potsdam is engaged in the implementation of the blockchain into existing and promising projects.
Large companies, such as Deloitte LLP, JPMorgan Chase & Co, Toyota Motor Corp, are already working or experimenting with decentralized systems based on the blockchain, which is a threat to software packages produced by SAP.
SAP financial and management software provides accounting, financial and logistics processes for more than 50,000 companies.
The SAP software complex is built around a central transaction log. 44-year experience in data processing attracts users from various fields: banks, auto industry, energy, and agriculture. SAP profit in 2015 was more than 4.25 billion Euros.
SAP Tests Different Blockchains
SAP develops special applications for the integration of client lockouts into the cloud platform SAP HANA, which provides customers with an online in-memory database and various service applications. The applications will be compatible with various blockchains, including Bitcoin and Ethereum. Also, you will be able to start mining bitcoins with the help of them.
SAP develops special applications for the integration of client lockouts into the cloud platform SAP HANA, which provides customers with an online in-memory database and various service applications. The applications will be compatible with various blockchains, including Bitcoin, Ethereum, and corporate blockchains.
In the first example, SAP uses blockchain in medicine: patients, doctors, and drug manufacturers access medical data for a certain period of time, for a survey or for scientific research. Another example: the development of a weather insurance system for farmers, which receives data on precipitation and automatically informs the insurer about a drought.
In the banking industry, SAP, Canadian bank ATB Financial and the cryptocurrency company Ripple Labs conducted a transaction of 1 000 Canadian dollars to the German bank as an experiment. The translation took 20 seconds instead of a few days. Urgent cross-border remittances are one of the key applications of blockchain in banking operations.
Blockchain Is a Universal Tool
In an industry can be used the block-open source, or corporate, purchased from the owner. They accelerate transactions and improve security, eliminating the need for centralized systems that companies store on their servers. Smart contracts are a separate topic. They can react to events, saving time and effort.
SAP is not the only huge company in the IT industry, developing applications based on the blockchain. Microsoft Corporation, in conjunction with the banking consortium R3, is testing the technology of money transfers and other features of the blockchain. IBM is working on a project Hyperledger. It is standardization of applications on the blockbuster in finance, industry and information technology. Oracle representatives declined to comment on their plans for blocking, although an article in a recent issue of their magazine Profit was devoted to discussing technology in various fields.
The IT industry giants explore new technologies from the user’s point of view, and then adapt them with the help of existing tools and incorporate into their products. This is how Microsoft did with Linux, and Oracle with the Hadoop open source code.
SAP Innovation Center is responsible for the development of applications based on the blockchain, their integration into personalized tools for medicine, and delivery to the end customers.