Finding the right use cases in the blockchain industry can prove to be a challenging venture. A lot of these efforts focus on financial solutions, even though distributed ledgers can make a big impact in virtually all other areas. SophiaTX aims to bridge the gap between blockchain and other business models. This new platform offers a simplified process for building enterprise applications.
On the surface, SophiaTX positions itself as a tailored blockchain platform for extending traditional enterprise applications. Whether it is ERP, CRM, or another internal process, offering a decentralized, collaborative, and robust technological upgrade can make a positive impact moving forward. The entire project is open source and has integrated APIs for SAP and most other common enterprise applications as of right now.
The SophiaTX ecosystem has three major building blocks. First of all, this enterprise-oriented solution offers smart contract technology for companies to explore. Additionally, it provides microservices and a platform to disrupt whichever industry one is active in. The main selling point will always be the concept of sharing information across the entire value chain provided by this blockchain ecosystem.
Secondly, SophiaTX prides itself on being flexible, thanks to its common building blocks, IoT integration, and standardized APIs. Moreover, the network should be capable of handling up to 2,000 transactions per second. Whether that will be sufficient or not for most enterprises remains to be determined at this point. It’s also worth mentioning the platform is system-agnostic, which will undoubtedly win some companies over.
Last but not least, this blockchain ecosystem needs to be secure first and foremost. SophiaTX offers standard blockchain features, such as immutability, traceability, and business compliance. There is also a mining aspect suited for specific business models, which will be interesting to keep an eye on. It is evident there is a lot more to this project than most people would assume, but competition can only be a good thing in this industry.
There is no proper blockchain-oriented project without its own native token as of right now. SophiaTX issued 500 million tokens during its ICO. With the unsold tokens having been destroyed, 350 million remain, of which 202.5 million are in circulation. The developers are focusing on getting this token listed on more exchanges as we speak. For now, there are no notable use cases for SPHTX just yet, but since the project is still in development, that situation will change in the near future.
Building this enterprise-grade blockchain platform will take a lot of time and research. The team is currently in the process of issuing the tokens, associated wallet, and marketplace. Additionally, file storage features will be integrated, with IoT integration to follow in Q4 of this year. SAP connectivity for this new platform is also under development and should be completed soon. It will be an interesting year for SophiaTX, to say the very least.
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