According to PwC's "Time for Trust" report on the blockchain market, the technology is becoming particularly valuable for the growth of companies worldwide. As many as 61 percent of companies indicates digital transformation investments at the top of their priorities. This potential has been also recognized by a coalition of partners, collaborating with innovative companies, startups or software developers. The coalition has been developing the program of the first technology sandbox in Poland. KIR, IBM, Chmura Krajowa, PKO Bank Polski, the Polish Financial Supervision Authority, the Cyberium Foundation, and Fintech Poland are encouraging you to test your business ideas in conditions similar to real life for free. Interested entities may apply throughout the year.
– Technology sandboxes, such as Sandbox Blockchain, provide access to the testing environment for companies planning to create and share their solutions in blockchain technology. We provide them with a unique opportunity and conditions to test their ideas, by which – in an easy and cost-free way – they can estimate the business potential of projects that are still in the research and development phase. By making our platform available, we provide comprehensive support in the process of commercialization of tested projects. We want to make it easier for our customers to enter the market, also in highly regulated sectors – says Michał Pierzgalski, an expert from the Systems Development and Public Sector Area at KIR.
What new features are waiting for the users of the platform?
In 2022, testing companies will have at their disposal an environment based on HLF (Hyperledger Fabric) architecture updated to version 2.2. Entities participating in the current edition of the program will be able to independently adjust the platform to their own needs, extending it with new network elements from their own IT infrastructure or from the cloud. Importantly, in order to ensure the security of the processed data, access to the platform is only possible with the use of cryptographic material that serves the protection of classified information.
– The new version of Sandbox offers an even more user-friendly development environment, helping organizations seamlessly transition from centralized systems to a decentralized world with blockchain as its backbone. Sandbox lowers the threshold for entry into blockchain technology, and enhanced functionality in the area of smart contracts enabling the design of complex information exchange processes on which the ecosystem of decentralized finance (DeFi), or digital assets, are based. IBM has been supporting enterprises in designing and building blockchain-based solutions for many years and strives to offer solutions as innovation driven by this technology evolves. Also the new version of Sandbox is the answer to the market needs, identified by the IBM experts in cooperation with enterprises in Poland and worldwide – adds dr Agata Slater, Blockchain Offering Manager, IBM.
First tests on the platform
Last year the first stage of recruitment for the sandbox ended, with startups from Poland and, among others, Spain, Finland and Israel were applying. These companies develop solutions in the field of financial services, data security, energy market settlements, as well as real estate tokenization. The pioneers in testing the Sandbox Blockchain platform are the companies: Anchor Software – specializing in blockchain technology and Guarantizzy – a provider of innovative solutions in the field of bank and insurance guarantee service, which, thanks to the use of cryptography and algorithms, provides the highest level of security and protection of customer data. Access to the platform has also been granted to entities developing software services, among others: Espeo – software house as well as companies Bazy i Systemy Bankowe and Forc.ee.
The key role of testing in the development of blockchain technology
Blockchain technology is revolutionizing the way companies around the world do business. As the ability to deploy and integrate their own IT infrastructure with blockchain increases, testers must continually develop their expertise in evaluating accepted practices, areas and industries where they will hit potential technical challenges. Importantly, blockchain technology is not limited to financial services and products, but can also be applied in many other industries – energy, real estate or public services provided by central and local administration. Unlike traditional IT solutions, blockchain software testing is a very unique and complex domain requiring proven, specialized knowledge and expertise. This – as part of the launched Sandbox Blockchain 2.0 platform – is provided by its founders.
– One of the critical success factors in projects based on cooperation between innovative companies and financial institutions is time. Between the start of the project and its finish, often even several months pass. This is particularly visible in the case of products characterized by high complexity, such as those using blockchain technology. Our Sandbox Blockchain environment not only shortens the time necessary for cooperation, but also provides competence support and lowers the cost barrier to entry, because it is free of charge – says Karol Szymański, Blockchain Product Owner, PKO Bank Polski.
Sandbox Blockchain was launched in November 2020. Sandbox is a joint project of a group of partners, each with a specific function. KIR, IBM and National Cloud are responsible for technology issues, PKO Bank Polski acts as an accelerator, FinTech Poland Foundation and the Polish Financial Supervision Authority support the project on issues related to regulations and legal environment. The function of coordinator is performed by KIR Foundation for the Development of Digitalisation Cyberium.
Detailed information about the Sandbox Blockchain project, regulations and all information about the possibility to join the initiative are available at: www.sandboxblockchain.pl/en.