Rotharium has been popping up more and more in the cryptocurrency circles of late. The Austrian project is a product of Crypto Future GMBH who have been in the industry since 2013. On the 14th of November Rotharium unveiled the Rotharium Platform and Wallet aspects of the ERP blockchain solution. Tomislav Matic, founder, summarises the long term goal of the project well;
We have the ambitious goal of positioning a comprehensive ERP block chain solution that seamlessly integrates with existing applications. Unlike many other crypto projects, which first announce their products big and disappear soon afterwards in the drawer, our product is already ready for use. Considering that global sales for ERP products will grow to approximately $ 41 billion by 2020, it highlights the tremendous potential in this area
The Rotharium platform is a Cloud or On-Premise BPaaS (Blockchain Product as a Service). This certainly indicates the underlying brilliance of the Rotharium project. They will be able to seamlessly integrate with existing apps. Consequently, not forcing enterprises to change their internal usage software to avail of the advantages of blockchain.
8 critical modules make up the platform. These are;
- Tenant module
- Logging module
- Blockchain module
- Notification and Event management module
- Roles module
- Administration module
- Organisation module
- Auditing module
These modules form the backbone of the platform. Functionally they all have a specific role. Administration module allows for general settings interventions and consequently, is accessible only by the platform administrator. The notification and event management module allow you to create events which are actions performed when some criteria are satisfied. One records these via the Logging API and Logging module which can store this data on the blockchain. The auditing module is used to explore these logged records.
One uses the organisation and roles module to tier user access and permissions. The real beauty of the platform lies in the blockchain module. This is the heart of the Rotharium platform as it is intended for interaction with the blockchain distributed ledger. This is the aspect of the platform that allows businesses to unlock the potential of blockchain.
The Rotharium Wallet is scheduled for release in December 2018. Certainly, a very nice way to close the year. While crypto wallets are not necessarily new. There are aspects of this wallet that make it interesting. The lack of transaction fees entirely is certainly a welcome feature. However it is the potential collaborations with the platform that excite me most. The Rotharium Wallet operates through the Rotharium platform. Consequently sending funds from Rotharium Wallet A to Rotharium Wallet B is not dependent on blockchain scalability. Crucially this means you will receive tokens within seconds. Furthermore, the blockchain ecosystem does not limit the number of transactions between Rotharium Wallets.
This functionality is very promising for SMEs. Collecting payments is an ongoing issue for many businesses. Sadly many big companies with no cashflow problems do not pay particularly promptly. In contrast, cashflow is a headache at times for most SMEs. Imagine integrating a smart wallet with the events module of the platform. Consequently, allowing businesses to send or request funds based on events being logged to the blockchain in real time. Fraud would become almost impossible and businesses would be entirely transparent. Certainly this is a desirable outcome for all.
These are exciting times in the journey of Rotharium.
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