Bitcoin, Cryptocurrency And Blockchain News

Huawei Launches Blockchain-as-a-Service (BaaS) Platform


Huawei, Chinese telecommunication services and equipment company, has released its Blockchain-as-a-Service (BaaS) platform, along with the whitepaper. The system is called “Blockchain Service” and it will help companies create, manage and implement blockchain applications.

The announcement came on April 17th at Huawei’s analyst conference in Shenzhen. BaaS was built using HyperLedger Fabric v1.0, which has been previously employed by technology company IBM. Huawei’s Research engineer, Yaoguo Jiang, said:

At Huawei, we’ve been working with Hyperledger Fabric and collaborating with the larger community for quite some time. Over the past several months, the project has made great progress with all the contributors’ efforts. Hyperledger Fabric 1.0 has several exciting features and is leading the direction of blockchain technology in the enterprise. We look forward to seeing all the production deployments and use cases powered by Hyperledger Fabric in the future.

The whitepaper states that customers can use Blockchain Service to integrate various industries into smart contract applications including supply chain traceability, audit reports, crowdfunding and tokenized securities assets. It also promises a cost-effective solution with a deployment time of a few minutes.

Last month, Huawei began working on Project Caliper, a “benchmark framework” that would allow users to test the performance of any blockchain. The proposal stated, The intent is for Caliper results to be used as a reference in supporting the choice of a blockchain implementation suitable for the users specific use-cases … The first goal of the project is to provide the community a functioning benchmark framework capable of running against both Fabric and Sawtooth Lake.”

Huawei is not the only Chinese company working on blockchain technology. Baidu, an Internet search engine, also launched a blockchain stock photography platform – ‘Totem’ – last week. The service will record copyright information and help photographers keep a check on their work by using distributed ledger technology’s transparent nature.

Image Credit: Deposit Photos