Enterprise software firm SAP unveiled a new a new blockchain as a service (BaaS) earlier this month alongside a number of products and partnerships.

The company announced SAP Cloud Platform Blockchain – a new BaaS that will enable enterprises to easily build and extend business solutions with blockchain technologies, such as Hyperledger Fabric and MultiChain.

The new service will allow cloud deployment; prototyping, testing, and building blockchain applications and smart contracts; developing blockchain extensions for existing applications; and using open standards to create consortium and private blockchain networks.

“This blockchain-as-a-service (BaaS) provides the easiest, lowest-risk gateway to experimenting with distributed ledger technology in the cloud. Eliminate the need for a large upfront capital investment and fast-track blockchain implementation across your business,” the website reads.

SAP Spearheads Blockchain Consortium

SAP, a premier member of the Hyperledger blockchain project, also announced that it has started a global blockchain consortium with seven founding members with the objective of expanding and accelerating global adoption and best practices of blockchain in the transportation industry.

Founding members include SAP, Intel, Hewlett Packard Enterprise, A3by Airbus SE, Amkor Technology, Flex, and UPS.

“We are pleased to be a founding member of the SAP-led Consortium that provides the platform, framework and organization to drive the supply chain industry towards achieving that vision – as well as to benefit our customers,” Linda Cheung, Director of Global Solutionsnat Intel, said in a statement.