Chinese telecom giant Huawei this week launched its blockchain-as-a service (BaaS) platform, CoinDesk reported.
Called ‘Blockchain Service’ or BCS, the new platform would help companies build smart contracts on top a distributed ledger network for a number of use cases.
“Blockchain Service is a high-performance, high-availability, and high-security blockchain technology platform service for enterprises and developers. It can help companies and developers create, deploy and deploy quickly and inexpensively on Huawei Cloud,” the website states.
Based on Hyperledger Fabric 1.0, the platform currently allows clients to build smart contract applications for areas including supply chain, tokenized securities assets, ID verification, and financial auditing. Huawei has been a member of, as well as a contributor to, the Hyperledger blockchain project since October 2016.
Huawei has also release the project’s whitepaper this month. Designed for enterprises, the BCS can be “integrated with existing Huawei Cloud products and solutions to support enterprises move towards the era of cloud in a secure, efficient, and tamper-proof approach, and quickly deploy new solutions and applications.”