Skip to Content

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.

To report this post you need to login first.

1 Comment

You must be Logged on to comment or reply to a post.

  1. Ricardo Dolinski Garrido

    Good day, Andre Smith

    Interesting about Blockchain, “The applications will be compatible with various blockchains, including Bitcoin and Ethereum”

    I proposed it in Apr.2017:

     

    SAP PayCoin Model Hyperledger Hybrid

    by Ricardo Dolinski Garrido

    https://ideas.sap.com/D42273

     

     

    Build on SAP Cloud a new SAP PayCoin Hyperledger Hybrid Modelo product as an offer of electronic payment medium between companies and citizens (superior to “PayPal”) in Hyperledger Hybrid using Blockchain, XBRL and IFRS as evidential traceability standards of legal financial management in Businesses and citizens.

     

    In order to promote the SAP Cloud products in the market of electronic payment medium between companies and citizens in Hyperledger Hybrid in the world and to form a data source for Supranational and International Police Institutions.

     

    A contribution to immediately, legals and transparents electronic payment systems between enterprises and citizens supported with traceable evidences with Blockchain, XBRL and IFRS; in the work about,

     

    .- payment fraud indicated in The 2016 Internet Organised Crime Threat Assessment (IOCTA) by Europol

    https://www.europol.europa.eu/activities-services/main-reports/internet-organised-crime-threat-assessment-iocta-2016

     

    .- indicators in suspicious transaction reports as relevant for their inclusion in the “electronic payment systems” indicated in Financial Intelligence Unit (FIU) by Bundeskriminalamt

    https://www.bka.de/EN/CurrentInformation/AnnualReports/FinancialIntelligenceUnitGermany/financialintelligenceunitgermany_node.html

     

    ok

    Ricardo Dolinski Garrido

    username: rdolinski

    S_User: S0018218833

    P_User: P1942534595

    dni.05338843Z

    email: ricardo.dolinski@celeritech.biz

     

    (0) 

Leave a Reply