Blockchain

Huawei Provides Updates on New Blockchain Service Platform

Huawei which is a Chinese leading telecommunications and smartphone provider recently announced about launching a blockchain-as-a-service (BaaS) platform. The announcement was made by the company during Huawei’s analyst conference on April 15, in Shenzhen stating that the new service platform which will be based on Blockchain will enable companies to develop smart contracts in addition to distributed ledger network for several use-case scenarios.

Huawei engineer, who also was involved in the development of the new project’s white paper released earlier, Hu Ruifeng, stated that Huawei has based the new BaaS solution on Hyperledger Fabric 1.0.

As stated in the white paper of the project, the BaaS platform currently allows clients to build smart contract applications which focus on the supply chain, tokenized securities assets as well as public services which include verification of IDs and financial auditing.

This new launch by Huawei is the latest example of technological development of the leading company which invests lot of resources and efforts in the new blockchain technology. As reported by the company, the following step by the development team will include Huawei engineers, Hu Ruifeng and Zhou Haojun working on development of Project Caliper soft which will be designed as test for the performance of the major blockchains to come.

This is a major step towards development by Huawei which promise measurable technology giants for the company. The investments in the new technology promise to help the company in moving into the space of such giants as Baidu and Tencent both of which already launched their own blockchain service platforms, as reported recently. In addition another leading e-commerce company JD.com recently also released a white paper where it was stated about having a similar plan of building a service platform based on the new technologies.

 

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