SophiaTX

SophiaTX is a blockchain business platform that integrates enterprise applications and solutions into collaborative environments. This an open source platform contains integration interface API for SAC and other software that is covered by leading ERP, CRM, and SCM systems. Blockchain SophiaTX is tailored to expand traditional business applications and allows to improve and to transform existing business models. The platform is powered by SPHTX (SophiaTX Token), which is used to cover mining and transaction fees, allowing access to and logging in to the development platform, market, and in-app purchases. It is designed to deal with assets or micro-businesses and services, process maps and plans, integration, and professional consulting services that allow for speedy adoption and use. The business model focuses on the following three points:

Engaging in business – using intelligent contracts, sharing information across blocks, improving collaboration, shortening time cycles, providing microservices, innovation in industry
Flexibility – common building blocks, standardized APIs, IOT integration, intelligent transaction-level contracts, Agnostic system
Security – immobility, tracing, enhanced encryption and anonymity, business matches, mining suitable for business

What problem will be solved by SophiaTX?

SophiaTX can help track the authenticity of medicines and pharmaceutical products, which represent 10-15% of counterfeits, while the industry’s size is 1.2 trillion dollars. Falsified medicines, adherence to shipping and traceability in the event of withdrawal are the main challenges facing this market. Another challenge for SophiaTX can be a stock exchange containing, for example, invoices or orders. In practice, postal services, e-mails, and e-invoicing software are used. They are not completely reliable in terms of supply, safety or cost-effective. It is also interesting that several Slovaks are part of this team.

What is the SophiaTX project unique?

The project differs in a variety of ways: it is founded as an interdisciplinary platform that caters also for industries such as food, pharmaceuticals, manufacturing, transport, logistics, engineering, construction, and others. SophiaTX is built as a business-compatible Blockchain and brings it into place through a community of millions of IT professionals (for example, SAP has more than 2.5 million subscribers around the world).

Does this project compete?

There is currently no comparable solution. Details in whitepaper reveal the limitations of existing Blockchains such as Ethereum, Hyperledger, and the proprietary Blockchain of SAP as a service (Baas). These systems do not provide sufficient privacy, speed, or add-ons that would allow normal business adoption.