SCOTTSDALE, Ariz., May 15, 2017 /PRNewswire-iReach/ -- With a charter and focus on the rapidly growing blockchain market, Sky Republic™ is planning to deliver the world's first enterprise-ready Trusted Digital Ecosystem for automating and securing business transactions. The increasing investment by both corporate IT and large enterprise software vendors, rising number of proof-of-concepts, as well as a growing number of software start-ups, herald a promising wave of new blockchain-based solutions. According to MarketWatch (October 13, 2016), the global blockchain market is estimated to grow rapidly from USD 210.2 million in 2016, to over 2.3 billion by 2021 (61.5% CAGR), with the highest CAGR during this forecast period coming from the application and solution provider segment. This means that many enterprises will be looking to the vendor community for blockchain-related solutions, perhaps more often than trying to build a blockchain in-house.
"After investing more than a year researching this field and nascent market we're convinced distributed ledger technology and its associated smart contracts could revolutionize the processing and automation of digital transactions, perhaps to the same extent what the Cloud and APIs did to enable the Digital Business", says Chris Fabre, CEO and Founder, Sky Republic. "Though these technologies hold incredible promise, the blockchain architecture is still evolving and we are in a great position to help clients overcome the hurdles and mitigate the potential risks of deploying these new technologies and related business models by guiding them through the enterprise blockchain landscape while we work to deliver the world's first Trusted Digital Ecosystem." Before founding Sky Republic, Mr. Fabre served for 10 years as CEO of Axway – a leader in digital and B2B enterprise software – and took the public in 2011.
Many have looked to extend blockchain's architectural concepts to different use cases to solve a wide range of business problems. However, a number of limitations led to the conclusion that only distributed ledger technologies (DLT) – the latest generation of blockchain for the enterprise – is capable of meeting the demands of the business world. Furthermore, as blockchain architectures evolve and mature, additional features and operational capabilities found in established middleware technologies such as API management, B2B integration, Software-as-a-Service (SaaS), or digital business networks, will be required for enterprise usage. Sky Republic intends to leverage the best of what a DLT-based architecture and smart contracts have to offer like decentralization, security, and immutability, while also taking advantage of digital B2B middleware technologies that can greatly ease implementation, identity verification, integration with existing systems and processes, and governance of digital ecosystems.
Most importantly, Sky Republic believes that only within a Trusted Digital Ecosystem (TDE) can trust be automated and established by verifying the identity of all contracting parties. It can also maintain trust throughout the entire process – from contract creation to settlement – since the TDE can keep track of, and govern, all interactions between parties to provide assurance contractual commitments and obligations are delivered as promised. Additionally, by having an immutable record of the party interactions, any disputes that may arise can be resolved by relying on undeniable evidence of the transaction history. It is with "trust automation" in mind that Sky Republic intends to use enterprise blockchain and smart contracts to provide a Trusted Digital Ecosystem for automating and securing business transactions.
The company continues with its R&D investment and plans to deliver a Trusted Digital Ecosystem in 2017. Meanwhile, it is prepared to help with education, business benefit/risk assessments, and strategic planning, as well as help enterprise architects experiment, develop, and deploy blockchain related technologies. To get a deeper understanding of enterprise blockchain, and the role of smart contracts in a Trusted Digital Ecosystem, you can download the free report from www.skyrepublic.com.
About Sky Republic
Founded in 2016, Sky Republic™ is comprised of software technologists dedicated to the development of enterprise blockchains and Trusted Digital Ecosystems that can be trusted to build and scale ground-breaking B2B/B2C SaaS solutions. Our passion and decades of experience designing, building and bringing to market advanced B2B middleware and application infrastructure solutions has provided us with the required skills and expertise to understand how enterprise blockchain – also called distributed ledger technologies (DLT) – can streamline and enhance the Digital Business. Sky Republic believes Trusted Digital Ecosystems will revolutionize the way individuals and organizations interact, the way businesses collaborate with one another, and deliver a new level of automation and security of business transactions. www.skyrepublic.com
Media Contact: Dean Hidalgo, Sky Republic Inc., 480-315-6572, email@example.com
News distributed by PR Newswire iReach: https://ireach.prnewswire.com