The creation of this open bi-directional bridge between the SAP enterprise world and Algorand’s, public blockchain protocol underlines SAP’s commitment to work with innovative technologies while enabling the creation of new solutions for its global client base…
Published by
CryptoNinjas.net
05/24/2021
Algorand, the proof-of-stake blockchain platform, today announced that its open connector API is now live on the SAP Business Hub, providing much-needed interoperability between SAP enterprise applications on the SAP Cloud Platform (SCP) or standalone SAP Clients and the Algorand protocol.
This connector enables SAP users to seamlessly tap into a blockchain that provides the ability to scale to billions of users, speeds required for today’s business needs, finality to ensure the security of data and assets on-chain, and low transaction costs.
Algorand + SAP
As an enterprise-ready blockchain, Algorand has solved the inherent challenges of first-generation distributed ledgers by providing speed, security, scalability, and more – all at the same time. It is capable of thousands of transactions per second with block finality in seconds on a blockchain that is mathematically guaranteed not to fork and it enables the deployment of production-ready enterprise apps.
SAP Cloud Platform enables cloud-first deployment of SAP/Hana ecosystem products and is particularly well-suited to applications that connect multiple stakeholders over shared workflows and datasets in a secure and enterprise compliant environment.
In addition to its performance, Algorand’s features can power innovative cloud-native SAP applications in multiple verticals performing Transactional services, Verification & Security, Smart Contracts, Asset Tokenization, Payments, Fintech apps, and many other blockchain use cases, enabling enterprises all over the world to embrace and play a leading role in the fundamental shift of redefining finance and beyond.
The API connector between Algorand and SAP was built by Mentat Innovations, a technology provider of full-stack solutions for enterprises, with a specific focus on artificial intelligence and blockchain solutions.
“SAP’s customers include some of the most-savvy enterprises around the globe. As they turn to blockchain for transparency, security, and business efficiency, Algorand and SAP’s integration will expand opportunities for these leading enterprises to integrate their core systems with high-performing blockchain. We look forward to further empowering blockchain adoption with SAP through our shared commitment for innovation.”
– W. Sean Ford, COO of Algorand