SophiaTX enterprise B2B blockchain goes live

SophiaTX enterprise B2B blockchain goes live

Swiss B2B blockchain company Equidato Technologies has announced the launch of its SophiaTX blockchain ‘mainnet’.

Public blockchain SophiaTX is designed to be decentralised enterprise computing system that extends traditional enterprise applications, such as enterprise resource planning (ERP), supply chain management (SCM), and customer relationship management (CRM), into the blockchain environment.

The aim is to use the secure distributed ledger and decentralised computing structure of the Graphene blockchain to underpin enterprises’ operational and management processes “to ensure maximum transparency, traceability, and trust”, said the company in an announcement.

The offering seeks to benefit a wide range of industries that deal with slow, complex, and lengthy enterprise processes, such as tracking and tracing the ownership of assets, where trust and transparency are essential.

For more information on the SophiaTX token (SPHTX) go here.

SAP integration

At its inception in 2017, SophiaTX claimed to be the first open source blockchain project that was focused on integrating the technology with enterprise systems from SAP, Oracle, Microsoft, and others.

Next on the company’s roadmap for SophiaTX will be version 2.0 of the mainnet in Q4 2018, which aims to add APIs for open integration to smart devices and IoT applications, private key management, a mobile app, advanced encryption options, and a Web client.

Equidato has recently announced a broad range of partnerships for SophiaTX, ranging from collaborating with Ernst & Young (EY) to integrate blockchain into the automotive industry, to working with Hyperledger on enterprise blockchain research and development.

Others include working with BizCode in Poland, Cheng & Co in Malaysia, and ArkTree in South Africa. Earlier this month, SophiaTX collaborated with startup Biotron on a personal analytics data platform and app, which is available in Beta on Google Play.

“We’re pleased to go live with our much-anticipated business blockchain, which we consider a crucial step towards unveiling the immense potential of blockchain to the world,” said Jaroslav Kacina, CEO of SophiaTX and Equidato. “We can finally start engaging with businesses and lead them through the next wave of digital transformation.

“It’s only a matter of time until enterprise grade blockchain becomes an essential part of the business world. The conception of a smart global economy built on this technology of trust is already at work as we speak, and we are proud to be a part of it.”

Internet of Business says

This will be a blockchain project to watch in the coming months, as it seeks to integrate the trust, security, and transparency promises of blockchain with enterprise B2B processes and applications.

The key questions for enterprise users will revolve around speed, trust, and complexity. For example, does a public blockchain replace trust with networked complexity? And does that mitigate against the usual enterprise computing model, which is to iteratively improve systems and work towards simplicity and closer collaboration?

Another question mark concerns the supposed green credentials of blockchain systems. Many blockchain proponents claim that blockchains are better for the environment than massive data centres, such as those maintained by cloud services providers.

However, many cloud data centres are being designed to be carbon neutral, while some large providers are building their own power stations from renewable energy sources. No distributed, decentralised system can claim to draw power only from renewable resources. Indeed, some public blockchains merely pass the cost of powering their data processing onto their members’ energy bills.

Will SophiaTX prove the enterprise B2B blockchain model? Watch and see.

Chris Middleton
Chris Middleton is former editor of Internet of Business, and now a key contributor to the title. He specialises in robotics, AI, the IoT, blockchain, and technology strategy. He is also former editor of Computing, Computer Business Review, and Professional Outsourcing, among others, and is a contributing editor to Diginomica, Computing, and Hack & Craft News. Over the years, he has also written for Computer Weekly, The Guardian, The Times, PC World, I-CIO, V3, The Inquirer, and Blockchain News, among many others. He is an acknowledged robotics expert who has appeared on BBC TV and radio, ITN, and Talk Radio, and is probably the only tech journalist in the UK to own a number of humanoid robots, which he hires out to events, exhibitions, universities, and schools. Chris has also chaired conferences on robotics, AI, IoT investment, digital marketing, blockchain, and space technologies, and has spoken at numerous other events.