Huawei Runs Its Own Blockchain Platform

The leading global telecommunications and smartphone provider Huawei is going to launch the new blockchain-as-a-service (BaaS) platform based on Hyperledger. It became known on the analyst conference held on April 17, 2018 in Shenzhen.

Hyperledger is an open source blockchain created by the Linux Foundation in 2015. Since its inception, more than a hundred large backers, as well as many corporate partners have joined the project.

The solution developed by the telecommunications group provides an adapted platform that does not require starting development from scratch. It is mainly focused on developers who want to enter into smart contracts. According to the Huawei whitepaper, the new BaaS platform allows creating smart contracts for several uses: in supply chains, for tokenized securities and public services, such as ID verification, data transactions, financial audit, etc. These smart contracts will be built and work in Huawei Cloud.

"Huawei blockchain cloud services are based on open source techniques in data management, security encryption and other core technologies accumulated over the years. Huawei’s blockchain cloud service is an easy-to-use, flexible and efficient universal and basic technology, focusing on helping developers build enterprise-class blockchain industry solutions on cloud and Huawei applications quickly and efficiently," the company wrote in its whitepaper.

So, such a platform moves Huawei deeply into blockchain technology. In addition to Huawei, other Chinese technological and Internet giants such as Baidu and Tencent are also got interested in the technology of distributed registries. These companies have already launched their own blockchain platforms.

by JustForex, 2018.04.23

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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