Jaroslav Kacina, Chairman & CEO
Blockchain as a technology has undoubtedly shifted the paradigm of how digitized transactions are carried out around the globe. The technology itself is traditionally confined to the banking, insurance, and financial services sectors. SophiaTX is here to change all that; the project has taken center stage to revolutionize the business aspect of blockchain, by injecting innovations like micro-transactions, capabilities to connect to enterprise systems, and advanced encryption capabilities. Most importantly, SophiaTX has introduced the marketplace with reusable building blocks available for innovation for the enterprise business process space. The introduction of blockchain into business transformation efforts paves the way for a blockchain-connected economy, powered by smart contract automation.
When it comes to the blockchain technology, several factors hinder its adoption, such as understanding the potential of blockchain, choosing the right blockchain integration in the system, and most importantly, transforming a business through blockchain. “We are building a blockchain that is relevant for businesses, and we are trying to create a full ecosystem of the open-sourced blockchain,” says Jaroslav Kacina, the chairman and CEO of SophiaTX. Leading the pathway for an “industries of the future” ecosystem, SophiaTX integrates blockchain technology with IoT sensors, SAP, and other advanced technologies.
SophiaTX, the world’s first open-source blockchain platform, aims at integrating blockchain technology with enterprise applications. SophiaTX is an open source development platform which allows IT experts to build and connect their standard data management systems like ERP and CRM to the blockchain for more consistent and trustful transaction recording and processing. Tailored for industry-specific use cases by organizations for leveraging blockchain applications through preconfigured and ready-to-use innovative business models, the SophiaTX developer platform serves to meet the demands of customers through a rich base of blockchain support and valuable ideas of enterprise system developers.
Building fully serviced enterprise strength blockchain platform with connectivity to traditional systems positions us uniquely on the forefront of the business blockchain
“Adaptation to the new Delegated Proof of Stake method gives us an edge over others, uniquely positioning us on the forefront of the insightful future of blockchain, which is filled with immense possibilities for creating more user-friendly processes and business workflows,” adds Kacina.
SophiaTX is working with Ernst and Young in building a prototype that will enable the smooth orchestration of an entire automotive supply chain. The prototype is designed to improve monitoring processes and help coordinate quicker deliveries for parts and subassemblies from OEMs in tier 0 to the suppliers in tier 4. The solution also protects the originality of the product by keeping track of the distribution at each level, making it a perfect resource for companies from the pharmaceutical and supply chain industries, where the authenticity of the product is one of the major concerns.
From end-to-end consulting services to best in class technology consulting services to technological advising, SophiaTX offers a full spectrum of services for its clients. “It is essential to not only provide a technology but to also provide an end-to-end advisory, implementation and support services,” says Jaroslav. The company’s approach of “not over-complicating technology with normal processing in the blockchain solution” tends to be a unique value proposition to their customers, making blockchain a collaboration and efficient information exchange tool.
The company is going to create an innovation center, a consulting and solution providing space along with the presence of more technology partners as idea generators to provide their customers with the ideal transformation platform for leveraging the blockchain technology. SophiaTX also has plans to develop and implement a prototype for scaling up the blockchain technology involvement in industries for the future.