Technology / Blockchain
Blockchain for Management, Accounting and Accountability

New public blockchain platform integrates with SAP

Burgess COMMENTARY

Peter Burgess

New public blockchain platform integrates with SAP By Ranica Arrowsmith

Geneva-based blockchain development company Equidato Technologies AG has debuted a new project that integrates blockchain with major financial software systems such as SAP.

SophiaTX includes three main components: a blockchain designed specifically for business environments, a development platform with integration application programming interfaces (APIs) to SAP and other ERP software, and a marketplace for companies and individuals to buy and sell apps.

The SophiaTX blockchain software uses proprietary blockchain technology from DECENT, an open source blockchain content distribution platform.

Equidato Technologies plans to release cryptocurrency tokens in the form of SPHTX coins, which will be used to cover mining and transaction fees on SophiaTX. SPHTX will also allow access and subscription to the development platform and marketplace, buy and sell assets or micro-assets and services, and allow for in-app purchases.

“We believe that to truly set up new ecosystems with peer-to-peer business relationships, a public blockchain is superior over any alternative,” said Jaroslav Kacina, CEO of Equidato Technologies. “With blockchain, most of the disruption comes from new entrants into the ecosystem. By opening the network for anyone to join and participate, SophiaTX has the best possible chance for global adoption.” Ranica Arrowsmith