Coindesk has reported that Baidu Baike, a search engine similar to Wikipedia, is using blockchain to hold the information of revisions made to a page or word. Launched in 2008, China-based Baidu Baike is now one of the top 10 search engines in the world.
Wikipedia can be edited by anyone, which is why it stores information regarding the changes made to a document, along with the name of the user as well as the time. Baidu Baike follows the same route, except now it holds the information on a separate blockchain. According to a representative from Baidu Inc., the parent company of the search engine, the “service was first made visible to the public on Monday”. The entries are so far random – one of the entries is recorded from 2006 while another is from 2009.
Baidu and Distributed Ledger Technology
Baidu first joined Hyperledger, a “cross-industry blockchain technologies” group, in October 2017. In January 2018, the company created a blockchain-as-a-service (BaaS) platform to manage and trace transactions, as well as billing and insurance auditing practices. In April of this year, Baidu launched a blockchain stock photography platform ‘Totem’ which could allow photographers to trace, recreate, alter and keep a check on their copyright online.
China’s Stance on Blockchain Technology
China’s State Council recently ordered local authorities to focus on “developing and implementing blockchain applications under existing regulatory frameworks.” Earlier this month, China’s Ministry of Industry and Information Technology published a whitepaper that showed that China was home to almost 40% of total distributed ledger startups.
The whitepaper stated, “Our blockchain industry is currently at a high-speed development phase – entrepreneurs and capital are pouring in, and the number of enterprises is rapidly increasing.”
Despite the progress in the blockchain sector, China continues to toughen rules for cryptocurrencies and ICOs. In April 2018, People’s Bank of China (PBoC) said that“it will continue to fend off risks from internet financing, adding that all platforms offering initial coin offering (ICOs) and bitcoin exchanges have been safely closed down.”
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