Software AG (Frankfurt TecDAX: SOW) today announced the availability of next generation Digital Business Platform capabilities that enable financial institutions to operationalize blockchain by gaining greater integration of, visibility into, and action upon public/private blockchain applications.
Once an organization has decided on the blockchain application that suits its business, the next step is to move it out of the incubator and tightly incorporate it within its enterprise applications.
Financial services organizations globally are investigating the benefits of using blockchain, but few are thinking beyond the perfect use case. Once they have decided on the blockchain application that suits their business, the next step is to move it out of its ‘test incubator’ where it was being proven, and tightly incorporate it within their enterprise applications.
Nigel Farmer, Industry Director for Capital Markets at Software AG, noted: “That is where the fun starts; making blockchain applications work in the real world is as much of a challenge as building the blockchain application itself.”
Organizations implementing blockchain do not want to add additional IT “spaghetti” on top of their existing technology infrastructure. They must be able to rapidly and seamlessly use blockchain to gain the advantages of the technology immediately without having to run complex, costly and lengthy re-architecting programs.
Interoperability of blockchain within an enterprise requires an intelligent blockchain access layer. The Software AG Digital Business Platform provides:
- A blockchain access layer that seamlessly integrates blockchain with legacy technology for interoperability;
- The ability to correlate and validate data, and apply business context going into blockchain;
- Governance and security to enterprise or industry-wide blockchains;
- Event processing and data aggregation for complete visibility on- and off- chain activities;
- Monitoring, exception management and alerting of blockchain events;
- Overlay service layer to enrich functionality of blockchain apps.
Farmer concluded: “Many organizations developing prototypes are focused fully on the blockchain use case, and haven’t begun to think about what it means to put it into production. Software AG’s Digital Business Platform not only provides the necessary infrastructure, but enables them to operationalize this disruptive technology rapidly without disrupting the business and existing IT infrastructure.”
Blockchain technology is poised to change financial services dramatically. But organizations must ensure that their infrastructure can support it. This is possible with the use of Software AG’s Digital Business Platform.