DECENT and Venaco Group Join Forces on Blockchain-SAP Integration Platform SophiaTX

SAP provider Venaco Group and blockchain distribution platform DECENT have partnered to launch a new open-source platform that will integrate the two technologies.

Called SophiaTX, and coming out as the flagship project of the companies’ Switzerland-based joint venture Equidato Technologies AG, the blockchain/SAP integration platform is the first of its kind, according to Decent.

The company says that SophiaTX will help bring more traditional applications together with “blockchain-enabled business models.” DECENT says the platform “can be thought of as three components,” which it defines as such:

  • It consists of a blockchain built on DECENT’s proprietary blockchain technology, specifically developed and enabled to power a B2B transaction engine
  • a development platform with integration APIs to SAP and other enterprise applications
  • a marketplace for a global community of experts, consultants, and developers to buy and sell apps

DECENT is bullish on SophiaTX’s ability to help companies start using blockchain in more applications. “This market could be crucial in blockchain achieving, and possibly exceeding, current estimates that it will enable 10% of global GDP by 2027,” said DECENT in a statement.

Jaroslav Kacina, CEO of SophiaTX and Equidato Technologies AG, which plans to offer an “initial coin offering” later in 2017, added that, “integrating blockchain with SAP and other business applications is inevitably the next frontier for blockchain.”

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