BaaS, or Blockchain as a Service, refers to a cloud-based service model that allows businesses to develop, host, and manage their own blockchain applications without having to build and maintain their own infrastructure.

This service is provided by third-party companies that take care of the technical complexities involved in blockchain development. With BaaS, organizations can leverage the benefits of blockchain technology, such as enhanced security, transparency, and efficiency, while minimizing upfront costs and resource allocation. Users can access tools and templates to create smart contracts, manage distributed ledgers, and analyze blockchain data.

This model not only accelerates the adoption of blockchain solutions but also lowers the barrier for entry, making it easier for companies of all sizes to experiment with and implement blockchain technology for various use cases, including supply chain management, payment processing, and identity verification. By using BaaS, businesses can focus on their core operations while utilizing the innovations that blockchain technology offers.