Huawei Launches Its Blockchain Service Platform |

ICOs

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Huawei has been making headlines in the crypto universe for some time now. Less than a month ago, it partnered with Swiss startup Sirin Labs to develop a blockchain-ready smartphone using the SIRIN OS, the first time a major phone maker has done this. The Shenzhen-based phone maker is not stopping any time soon and this time, it has unveiled its blockchain as a service platform.

Hyperledger-Based Platform For Enterprise Use

Huawei’s new BaaS platform was developed on the Hyperledger Fabric 1.0, a production-ready solution for building applications. The Hyperledger Fabric 1.0 was launched in July 2017 and is hosted by the Linux Foundation. Over 150 engineers contributed to its development from 27 organizations that included IBM, SAP and Wanda Group.

Named the Blockchain Service, the new platform was announced at Huawei’s analyst conference that was held at the company headquarters in Shenzhen, China. It will give its users the ability to develop smart contract applications on a blockchain network that will cater to a diverse number of industries and use cases. They include digital verification, supply chain solutions, tokenized securities and financial auditing.

According to the whitepaper, the platform is based on the secure, reliable and high-performance Huawei Cloud.

With the simplicity, usability, maturity, reliability, and integration of the cloud and blockchain, Huawei BCS provides enterprises and developers with enterprise-level blockchain services using its unique architecture.

Among the features and strengths of the platform include fast deployment, efficient access, high-performance consensus, high security, global access and user privacy. Speed and flexibility are among the most highlighted attributes of the platform.

Centering on the blockchain cloud platform, the BCS can support enterprises quickly and flexibly develop blockchain solutions and applications on Huawei Cloud. Huawei works with enterprise customers to promote the deployment of blockchain solutions and applications and to build reliable, public infrastructure and an ecosystem based on blockchain and shared success.

Chinese Companies’ Blockchain Interest

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Huawei joins fellow Chinese tech giants who have also launched their BaaS platforms to cater to a growing market that seeks blockchain services on demand. Earlier this year, Chinese web search giant Baidu launched Baidu Trust, their BaaS platform which they touted as the most user-friendly blockchain service. Baidu Trust allows a diverse range of applications ranging from insurance management and financial auditing to bank credit management and digital currencies.

Tencent, the internet conglomerate that’s behind popular products such as WeChat and QQ also released its blockchain platform which aims to foster the development of a trusted internet. Known as the TrustSQL, it has three layers; the core chain layer, the product and service layer and the application layer.

 



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