Blockchain-as-a-Service (BaaS) Meaning and Major Players!

What Is Blockchain-as-a-Service (BaaS)?
Blockchain-as-a-service (BaaS)   refers to third-party cloud-based infrastructure and management for companies building and operating blockchain apps. It functions like a sort of web host, running the back-end operation for a block-chain based app or platform. It may be the catalyst that leads to the widespread adoption of blockchain technology.
✅Understanding Blockchain-as-a-Service (BaaS):
BaaS is based on the software as a service (SaaS) model and works in a similar fashion. It allows customers to leverage cloud-based solutions to build, host, and operate their own blockchain apps and related functions on the blockchain. At the same time, the cloud-based service provider keeps the infrastructure agile and operational. As a development in the greater blockchain ecosystem, BaaS is seen as boosting blockchain adoption across businesses.
📌Major players in the BaaS space include:
✅Microsoft partnered with ConsenSys to introduce Ethereum blockchain-as-a-service on Microsoft Azure in 2015.
✅Amazon has introduced Amazon Managed Blockchain, a service that "makes it easy to create and manage scalable blockchain networks" using open-source frameworks, including Ethereum and Hyperledger Fabric.
✅R3, a consortium of global financial institutions that produced a distributed financial ledger called Corda.
✅PayStand, which specializes in sending and receiving payments between companies.
Consumers and businesses are increasingly willing to adapt to blockchain technology. However, the technical complexities and operational overhead involved in creating, configuring, and operating a blockchain and maintaining its infrastructure often act as a barrier.