- Huawei Launches Blockchain-as-a-service (BaaS) Solution powered by Hyperledger Fabric 1.0.
- This platform will enable customers to develop smart contracts on a distributed ledger network.
China:Huawei, the China-based smartphone and telecommunications provider, becomes the newest technology giant in China to unveil a blockchain-as-a-service (BaaS) solution. The company made the announcement of the new blockchain service at its analyst conference in Shenzhen on 17th April. The new platform, named Blockchain Service, is supposed to allow firms to develop smart contracts on a distributed ledger network for a number of use-case scenarios.
Huawei has been a member of the Linux Foundation’s Hyperledger Blockchain Consortium, and also a contributor since Oct. 2016. An engineer in Huawei who also coauthored BaaS’s white paper prior the launching, Hu Ruifeng, stated that the China-based firm has based its new BaaS platform on Hyperledger Fabric 1.0.
Hyperledger Fabric version 1.0, which was first announced in July 2017, marked a key breakthrough for the open-source software as it developed towards production-ready status for enterprise application development. The project’s white paper states that the Blockchain Service presently enables customers to develop smart contract apps that focus on supply chain, tokenized securities assets and public services such as ID verification and financial auditing.
Launching of the Blockchain Service marks the newest tech advancement from Huawei in its move into blockchain tech and follows recent attempts by Ruifeng and Zhou Haojun – another Huawei’s engineer – to develop Project Caliper, a software intended to test-run the performance of major blockchains.
Prior to Huawei’s launching of the BaaS platform, Baidu and Tencent have both recently launched their own blockchain service platforms. JD.com, one of the e-commerce giants, also released a white paper last month announcing a similar plan.
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