SophiaTX is the pioneering blockchain platform for business. Their focus — bridging the gap between blockchain technology and business models to create a collaborative global ecosystem.
The project is led by business professionals with over 75 years combined experience with SAP and business integration services. Chairman and CEO, Jaroslav Kacina has spent the last 22 years leading SAP integration operations and believes in the benefits of a blockchain future for SAP and business practices.
What is the main focus of SophiaTX?
SophiaTX is creating the world’s first platform to offer a simplified process for today’s businesses to integrate blockchain with enterprises applications such as SAP, Oracle and others. 87% of global businesses and 98% of the top 100 most valued brands in the world use SAP software, making it the most used software in the world. Given the massive reach of SAP software, a successful integration of blockchain technology with SAP systems would be revolutionary for industries everywhere.
Integrating SAP and blockchain also offers enormous potential for both users and the global economy. In fact, SAP software touches $16 trillion of consumer purchases and 74% of transaction revenue worldwide every year. This market could be crucial for blockchain to achieve, and possibly exceed, current estimates that it will enable 10% of global GDP by 2027. SophiaTX aims to be the most used blockchain platform for all business practices.
Who can use SophiaTX’s platform?
SophiaTX is a purpose-built blockchain designed for businesses of all sizes. Any business, company, corporation, or start-up which uses enterprise applications, such as SAP or Oracle, can benefit from the platform. A primary focus of SophiaTX is to create an easily integratable platform so that anyone can optimise their business with the power of blockchain.
Since the end of their successful TGE (Token Generation Event) in late December, they opened a pre-registration for an Early Adopters Program. The program is intended for individuals interested in partnering with the team to prototype and develop SophiaTX based applications. As of today, more than 3000 individuals have pre-registered. The program is being finalized and will gradually be launched in late February and March.
Is SophiaTX running on the Ethereum Blockchain or did they create their own?
The team behind SophiaTX has chosen to build their blockchain from the ground up, instead of using any of the already existing chains. The collaboration between DECENT, a swiss foundation known for creating a proprietary blockchain technology and platform called DCore, and SophiaTX has provided the essential blockchain architecture for their platform.
SophiaTX aims to create a collaborative environment across multiple industries, therefore it was necessary to design their own blockchain platform based off DECENT’s DCore technology.
What will SPHTX be used for and how will it benefit holders?
The SPHTX token is the fuel that runs the platform. It will be used for all transaction fees in the platform and marketplace. Additionally it will serve as the rewards mechanism for miners who secure and maintain the blockchain network.
SophiaTX has just released an updated roadmap for 2018 and are projecting to have the Main Net of their blockchain platform up and running as early as July this year and their marketplace functioning in May. Holders of SPHTX will benefit from mass adoption of the platform since more applications using SophiaTX, will mean a larger network utilizing the SPHTX token.