I often read, with a wry smile, the celebration of mundane blockchain use cases. Purchasing pizza or a cup of coffee via cryptocurrency is not the adoption that excites me. It requires a level of effort; wallet download, token transfer to wallet etc. Hence the work required is probably not proportionate to the reward. It is simpler to pay for coffee with loose change for example. I believe the cryptoverse needs integration that enables blockchain as a service. Integration cannot be a barrier to adoption. Therefore, it must be seamless. Above all, the integrated service must have competitive advantages over the centralised data incumbents.
Products that achieve this could penetrate the major B2B SaaS markets. Adoption at this level with the associated spending is the future for blockchain. Are there any projects set to achieve this? I see green shoots of progress in terms of this type of adoption. Ripple is a prime example servicing many banks. The food traceability project TE Foods has 6000 business customers on its network. Their project focuses on livestock supply chain tracking. It’s an impressive play but is industry specific and caters only to a subset of that one industry.
Rotharium & EBI-ERP Blockchain Interface
Rotharium may have found the holy grail. The high level goal is a full suite ERP blockchain solution that seamlessly integrates with existing SaaS apps. Their EBI-ERP Blockchain Interface product includes a NAV module for immediate use in the Microsoft Dynamics suite of products. In contrast to many crypto projects their product is live now and seems a no brainer for any SME.
Projections suggest the ERP software market will grow to a global valuation of $41bn by 2020. Interestingly, the ERP software market has seen a marked movement to cloud based solutions in recent years. This indicates purchasers are forward thinking and open to innovation. Therefore the hope is that they will prove open to blockchain adoption. The EBI-ERP Blockchain Interface allows businesses to use blockchain to manage orders and invoices, e-wallet management access from the ERP system boosted by the fundamental benefits of using a trustless distributed ledger.
EBI-ERP Blockchain Interface
The purchase management function of the product allows users to manage, track and settle invoices. Users also have the ability to settle invoices using cryptocurrency which paves the way for reducing payment times between businesses. This is particularly appealing for small and midsize enterprises with a need for clarity around cash flow and confirmed payment dates.Incoming payments are automatically imported into the NAV and invoices are settled. All in all this provides a seamless payments and invoicing management system. Furthermore blockchain based systems are inherently free from fraud.
The integration with Microsoft Dynamics NAV allows your business to use the functional advantages of blockchain without having to initiate major internal process changes. Microsoft Dynamics NAV has long been a market leading ERP solution for SMEs. By integrating with Rotharium they are staying on the forefront of innovation in the space and improving their service offering. The EBI Blockchain interface allows the business an overview of all wallet transactions associated with their invoices. Consequently payments management and security is improved.
Who is Rotharium?
Rotharium is a cryptocurrency token by Crypto Future GMBH. An Austrian cryptocurrency company in operation since 2013. The Rotharium project has great clarity of purpose and this is reflected in the make up of the team. This is not a project run by wide eyed crypto-anarchists set on toppling the global financial system. Rather the management team consists of experienced, successful and intelligent business professionals. Consequently, they also possess a comprehensive development team.
Rotharium, much like Ripple, are concentrating on a single problem and developing a product that helps solve this problem for businesses. Where Ripple are improving cross border transactions, Rotharium are optimising enterprise resource planning and management. Rotharium create decentralised and transparent business processes. The advent of mainstream adoption of blockchain business services and processes will greatly increase transparency. Therefore reducing fraud and malfeasance in global industry.
The project is generally very active with a consistent presence at conferences and major blockchain events. The Rotharium ICO closed in January 2018 and it seems like progress has been rapid. The team has achieved the major milestones outlined in the whitepaper. Having a live product is a major boon for any crypto project. Consequently, the fact that Rotharium have partnered with and delivered a Microsoft Dynamics integrated product within 10 months of ICO really impresses me. The EBI-ERP Blockchain interface could well be a game changer in hastening the adoption of blockchain as a service product.
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