People in sales love to create mountains out of molehills. In their never-ending quest of simplifying the user experience, they end up inventing terms and terminologies that achieve the exact opposite. So, when I entered this hallowed domain, I was constantly bombarded with terms such as LTV, CAC, sales funnels, contextual advertising, SaaS, PaaS, BaaS, and whatnot.
Coming straight to the point, BaaS, or Blockchain as a Service is a portmanteau of Blockchain and SaaS. To understand BaaS, we, therefore, need to understand SaaS, as well as, Blockchain.