Insolar: New open sourced, enterprise-focused blockchain platform revealed

Hype! Cryptocurrencies and ICOs have been hyped to the heavens, but that does not mean blockchain itself could not be truly transformative — it is just that the applications may not be the ones that have been gaining all the publicity and vexing tech cynics and optimists alike. Maybe Insolar is the platform that really will have practical applications— like electricity, or the internet proved to have.

It seems like a team of blockchain superstars are behind the Insolar platform. Among them, ten leading academics in the field including Professor Henry Kim, co-director of York University’s blockchain lab in Toronto and one of the leading blockchain scholars in North America and Alexandru Butean, Senior Lecturer Professor in Computer Science and architect of the Blockchain Society in Estonia. Insolar Research also employs 35 full-time engineers, who it says: “have built and maintained industrial, high-load, and high-availability systems and have expertise in blockchain, AI, machine learning, and IoT.”

Why the need?

Insolar research says that “36% of businesses are sharing data with twice as many stakeholders as they were only two years ago. Their existing legacy systems cannot keep pace. Insolar is compatible with legacy enterprise systems as an external add-on.”

A guide to blockchain-as-a-service (BaaS) for CTOs and IT leaders

As servitisation business models continue to grow in popularity, it’s only natural that we are now seeing as-a-service offerings emerge for blockchain applications. Blockchain-as-a-service (BaaS) has established a strong market presence and is promising enterprises a way to utilise the much-hyped technology

The potential of blockchain

According to research from Gartner, the business value added by blockchain will grow to $38 billion by 2021, then surge to $360 billion by 2026, and more than $3 trillion by 2030.

Applications of Insolar

The new platform enables new transformative business models, such as asset digitisation, disintermediation, and value exchanges such as the supply chain of information.

When does integrating blockchain technology make business sense?

This article from Tobias Mathiasen (Vice President, ICO Advisory, Standard Kepler) will briefly introduce the core value proposition of blockchain, and explore when integrating this new ledger technology makes business sense in existing processes

It can also be run on blockchain-based clouds in the Insolar ecosystem, thus enabling rapid deployment without expensive upfront investments in IT staff and infrastructure.

Full-service ecosystem

Insolar CEO, Andrey Zhulin, said: “Insolar is  a full-service ecosystem that will help any organisation, of any size, profit from blockchain technology — from proof of concept, to production — and give them the tools they need to innovate and build the transformative business models of tomorrow.”

What is blockchain – the technology behind Bitcoin?

Blockchain technology has the potential to impact most industries across the globe in the near future – heralding in a new age of consumer trust and optimisation

Avatar photo

Michael Baxter

.Michael Baxter is a tech, economic and investment journalist. He has written four books, including iDisrupted and Living in the age of the jerk. He is the editor of and the host of the ESG...

Related Topics