Theta Network’s enterprise vision for Multiexperience Development Platforms (MXDP) vendors like SAP and Salesforce
It’s not a secret that Theta Labs has spent significant time exploring and driving blockchain technology discussions with large Global 1000 enterprises. These efforts have yielded results like bringing on-board Google, Sony and Samsung as Theta Enterprise validators, media companies like MGM and Lionsgate as content partners and Japan’s LINE corporation and Korea’s Kakao Klaytn as growth partners in Asia. However, the application of Theta’s blockchain technology in enterprises goes well beyond these examples. We see the evolving enterprise blockchain market really beginning to get traction beyond the early pilots.
Theta’s vision for this market goes far wider and deeper than these examples. In particular, we’re very excited about “Multiexperience development platforms” (MXDP), an emerging area of enterprise applications. “By 2024, one in three enterprises will use a multiexperience development platform to increase the speed at which IT and business fusion teams work to deliver successful digital products,” according to this Gartner report. “These digital user experiences increasingly span multidevice, multitouchpoint and multimodal interactions, and is therefore a multiexperience journey.”
In order for these digital experiences to seamlessly flow from web apps to mobile, IoT and wearable devices, across new types of custom chatbots, voice and video apps require an underlying infrastructure that supports distributed video, data and media delivery. This is an unique opportunity for Theta to become a household name in every global enterprise, to be the fabric underlying these cutting edge multi experience applications. According to Gartner’s magic quadrant of MXDP vendors, companies like SAP and Salesforce stand out as visionary leaders in this category.
We’re thrilled to see forward-thinking visionary technologists like Andrew Lunde from SAP begin to explore and get hands-on experience with Theta blockchain as detailed in his blog here.
Ethereum is faster and can settle in minutes. But even that can be too long for some use-cases. I’ve been looking at various other cryptos and Theta stands out for being even faster, cheaper, and has an interesting technical feature called off-chain micropayments that is worth digging into further when we think about applying blockchain technology to enterprise use cases.
Since we’re still in the early days of cryptocurrencies, the horse race is far from over. From my digging, a few things about Theta set it apart. They’ve been awarded several key patents pertaining to the technology claims that make Theta unique. They’ve got some committed investors and pretty heavyweight partners which is always good for helping to survive over time.
Andrew Lunde, SAP Technology Ambassador and Solution Architect
Specifically, Andrew is using the SAP Business Application Studio (BAS) for the development environment and the CloudFoundry environment within Business Technology Platform (BTP) to provide a “privatenet” with an built-in supply of THETA and TFUEL tokens for experimentation.
Andrew details his experience working through how to store and provide the Theta blockchain secret key to the application without revealing to anyone else through the SAP dev environment, and testing to confirm that a Theta transaction fee charged to the sender is equal to about ⅓ of thousandth of a cent. These are the basic building blocks — a highly efficient, secure blockchain. The interesting part is next: smart contracts, off-chain micropayment implementation and Dapps supporting multiple entities, devices and value chain participants.
Theta’s journey in the enterprise space is just beginning, and we expect to see exponential growth opportunities as we move forward, and it all starts here:
Building the Theta Protocol: Part IV
