Based on its recent analysis of the Global Blockchain Services space, Frost & Sullivan recognizes VMware with the 2022 Customer Value Leadership Award for creating an enterprise grade-blockchain that allows companies to deploy multi-party applications with a range of popular smart contract languages. VMware is a leading multi-cloud and application technology provider with over 20 years on the market, enabling digital innovation and improving business performance with best-in-class solutions.
VMware is a leading provider of multi-cloud services for all apps, enabling digital innovation with enterprise control. The company works to harness the next wave of innovation and help solve customers’ toughest challenges through disruptive technologies, such as artificial intelligence (AI), blockchain, edge computing, and machine learning.
“Creating a private permissioned blockchain based on Byzantine fault-tolerant state machine replication, VMware’s architecture facilitates enterprises to run distributed, multi-party applications in multiple smart contract languages, with network trust and resilience built in,” said Nick J. Baugh, Industry Analyst at Frost & Sullivan. “VMware Blockchain thus equips enterprises with a robust and highly efficient platform that does not suffer the main drawbacks of alternative blockchain models. Compared to other blockchain models, such as proof-of-work mechanism, VMware’s approach is highly efficient and sustains massive numbers of nodes and data transactions.”
VMware developed its blockchain architecture with an emphasis on simple operational deployments and by facilitating external integrations with several blockchain systems and databases. The company enables customers to deploy a broad range of distributed apps and customize and update networks with its unique VMware Blockchain platform. To date, VMware Blockchain has helped large financial services companies launch new ecosystems that drive net new growth opportunities and standards for the entire industry. These new ecosystems are transacting volume greater than the entire crypto market combined.
By using the VMware Blockchain platform, businesses can run smart contracts and applications seamlessly, without manually setting up integrations. The platform tackles the key digital pain points of modern organizations, mitigating complex app integrations and providing world-class support. VMware Blockchain provides for mission-critical performance in financial services (with sub-transaction privacy while processing billions of dollars in daily transaction volume) and enterprise-grade features for capacity management (for managing storage requirements and GDPR compliance).
“The platform addresses the top pain points organizations experience, reducing the complicated integrations required and featuring simple deployment and reconfiguration, along with enterprise-grade support,” noted Baugh. “VMware spent years in research and development on the core consensus technology to create VMware Blockchain. The VMware Blockchain platform offers a private-permissioned blockchain for enterprises that does the heavy lifting to allow customers to get into production quickly.”
Each year, Frost & Sullivan presents this award to the company that demonstrates excellence in implementing strategies that proactively create value for its customers, focusing on improving the return on the investment that customers make in its services or products. The award recognizes VMware’s unique focus on augmenting its customers’ value, beyond simply good customer service, leading to improved customer retention and customer base expansion.
Frost & Sullivan Best Practices Awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
VMware (vmware.com) is a leading provider of multi-cloud services for all apps, enabling digital innovation with enterprise control. As a trusted foundation to accelerate innovation, VMware software gives businesses the flexibility and choice they need to build the future. Headquartered in Palo Alto, California, VMware is committed to building a better future through the company’s 2030 Agenda. For more information, please visit vmware.com/company.
VMware Blockchain is a Distributed Ledger Technology (DLT) platform that Enterprises trust to run business-critical, multi-party applications. VMware Blockchain provides enterprise-grade features and robustness while maintaining the highest level of data integrity. Functionality includes granular privacy with data segregation, high performance and scalability, efficiency and Day 2 operations (upgradability, recoverability, on-premises and cloud-native deployment, and more), combined with 24×7 global support. VMware Blockchain is adopted by critical financial market institutions to set new standards for their customers and the industry.