Xcelerator Company Profile: Insolar
Updated: Mar 13, 2020
SaaS is passe when BaaS comes into the picture.
Meet Insolar, a global young company, that offers BaaS (Blockchain as a Service) for enterprises across the world. Tailoring and optimizing technology for the needs of businesses, Insolar is making technology useful for real-life implementation and for streamlining interactions between companies, gradually paving the way to shift from SaaS to BaaS.
But what even is BaaS, you might ask.
“Blockchain as a Service” means that the service should be as user-friendly as possible. In fact, the pinnacle of BaaS would be to completely outsource blockchain, prevent any vendor lock and make technology accessible. For instance, in BaaS, you don’t need special knowledge of programming languages — you can simply use Java or Go. Then, to use the platform, companies are not required to deploy their own node; instead, they can use cloud nodes provided by Insolar. Finally, in BaaS, you can resolve classic supply chain issues by automatic payments, “un-silo’ing” information, and creating immutable records to enable security and auditability.
Now, while blockchain is a democratized technology, what makes Insolar unique is its conceptualization of the platform from scratch. Having observed that existing technology on the market is insufficient to fulfill business needs, Insolar has created myriad features that include ease-of-use, simplified development, unlimited linear transaction scalability, cost-effective consensus, hybrid networks, interoperability, compatibility with legacy IT systems, and regulatory compliance, all of which set the company apart. The best part: With several patents pending and after being in 30 publications, Insolar is only getting started.
With a team of 80 people, 50 of which are engineers and technology researchers, Insolar is located in five countries, with its headquarters in Zug, Switzerland. Its founders are seasoned entrepreneurs. They previously founded Instamart, one of the largest venture-backed eCommerce grocery delivery businesses in Eastern Europe, and after getting equipped with their deep computer science knowledge, noticed the borderless potential of Blockchain for real-life use cases.
The result: Insolar has topped the development list worldwide consistently for a year now. With the ability to abstract complexity, ensuring ease of use, and maintaining compatibility with legacy systems, while also providing interoperability between blockchains, Insolar has seamlessly found itself gaining more and more traction among businesses.
At the Berkeley Blockchain Xcelerator, Insolar strives to be an emerging tech company and get engaged with the world-leading UC Berkeley Blockchain Ecosystem. With access to various mentors, an immersive academically free environment, and innovation that stimulates a “distributed future,” Insolar has leveraged the Xcelerator’s resources, and continues to transform enterprises through BaaS.