Huawei, a leading global information and communications technology (ICT) solutions provider, during its analyst conference in Shenzhen, announced launching the new blockchain-as-a-service (BaaS) platform based on Hyperledger Fabric 1.0.
Hyperledger is a collaborative effort created to advance blockchain technology by identifying and addressing important features for a cross-industry open standard for distributed ledgers that can transform the way business transactions are conducted globally.
Hyperledger Fabric 1.0, the open source distributed ledger project from Hyperledger, was released in July, 2017. The Project is a Linux Foundation Collaborative Project and implements many open source best practices familiar to other leading projects.
Huawei, which has built more than 1,500 networks in more than 170 countries and regions, is helping connect over one-third of the world’s population. The company has contributed to the Linux Foundation’s Hyperledger Blockchain Consortium for almost two years, since 2016.
According to the Huawei whitepaper, the new BaaS platform will enable companies to develop smart contacts on top of a distributed ledger network. The platform allows clients to build smart contract apps that mainly focus on supply chain, public services such as financial auditing and ID verification and tokenized security assets.
“The blockchain service is a general basic technology that is open, user-friendly, flexible, and efficient. Centering on the blockchain cloud platform, the BCS can support enterprises quickly and flexibly develop blockchain solutions and applications on Huawei Cloud”, reads the whitepaper.
The blockchain service is delivered on Huawei Cloud, which delivers diverse cloud computing products and customized industry solutions to enterprises. These products and services are supported by unique technologies, low cost, flexibility, telecom-level security, and efficient, on-demand management. It 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.
The launch marks Huawei’s speed-up and boost of the Chinese tech giant into the blockchain technology. Other tech and Internet giants from China are also moving there. Recently, Tencent and Baidu launched their own blockchain service platforms.