‘China’s Google’ Baidu Has Premiered A Blockchain-As-A-Service Platform


January 13, 2018 12:14 AM

Baidu, the Chinese language search engine that always attracts comparisons to Google, has launched a Blockchain-as-a-service platform.

On January 12, it was introduced that one in all China’s main web sites by way of site visitors, the search engine Baidu, launched a Blockchain-as-a-Service (BaaS) platform known as Baidu Belief. In accordance with Baidu Monetary, the BaaS, or no less than a pilot model of it, has been operational since July 21, 2017.

An internet site for the newly launched expertise describes it, in accordance with a translation, as a “self-developed mission” that can be utilized for:

“Environment friendly and low price traceability and buying and selling, best for digital forex, fee and settlement, digital ticketing, financial institution credit score administration, fairness proof and change-traded securities, insurance coverage administration, monetary auditing and extra.”

Baidu says the product has already been utilized to the duties of “asset securitization and asset change … and has contributed to the primary asset-backed securities change merchandise utilizing blockchain expertise in China.”

The corporate touts its customizability, which it says will make the platform appropriate to a variety of use instances.

Baidu has additionally performed analysis into blockchain expertise’s utility within the fields of unmanned automobiles, AI, IoT, and distributed computing.

The agency has apparently been exploring blockchain expertise’s FinTech purposes since 2015, and in 2013 it introduced that it might be accepting the cryptocurrency bitcoin as the only real technique of fee from clients of its safety service Jiasule.

In October 2017, Baidu Monetary joined the Hyperledger mission, which explores quite a lot of distributed ledger expertise use instances.

Tencent, one other Chinese language web large, has likewise been creating a BaaS platform, known as TrustSQL.

Adam Reese is a Los Angeles-based author keen on expertise, home and worldwide politics, social points, infrastructure and the humanities. Adam is a full-time workers author for ETHNews and holds worth in Ether and BTC.

ETHNews is dedicated to its Editorial Coverage

Like what you learn? Observe us on Twitter @ETHNews_ to obtain the most recent Baidu, Google or different Ethereum expertise information.

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‘China’s Google’ Baidu Has Premiered A Blockchain-As-A-Service Platform

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