How Does BaaS (Blockchain as a Service) Work?

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I hear that all biggies (MS, IBM, Amazon etc) are jumping in with their own BaaS offerings. But I'm puzzled - if these providers each maintain their own blockchain, how can a transaction involving entities which exist in different blockchains, succeed?

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It won't. Each blockchain will handle a different type of transaction (e.g. bonds vs. shipping) so cross-chain transactions aren't really needed.

(Disclaimer: This comment hypothetically assumes that blockchain blockchain blockchain mania actually works.)

I thought the blockchain boundary is limited to the provider (IBM, MS etc), not to the transaction type or business domain (shipping, bonds etc).

If the a blockchain is specific to a transaction type, does it mean all providers will use the same copy of the blockchain for that transaction type (shipping type etc)? But in that case, since blockchain doesn't belong to anyone, the BaaS providers would be similar to mining pools. Isn't it?

The idea is that each provider will "own" one industry.

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