Chinese giant Baidu launches Blockchain-as-a-Service platform

The Baidu search engine has launched a blockchain-as-a-service platform that supports various use cases, including payment, trading and cryptocurrencies.

Baidu, China's leading web services provider, recently launched Baidu Trust, a blockchain-as-a-service (BaaS) platform. Baidu Financial revealed that the service had been operational since last July, at least at the experimental stage. However, it was officially launched a few days ago.

The new site claims that all elements of the platform were designed and built in-house, and thus would be a " self-developed project ". The blockchain service of Baidu can be approached in several ways, as the site specifies:

(Our BaaS can use to) a t raçabilité effective and inexpensive trading, payment and settlement crypto-currency, digital ticketing, management of bank credit, the traded securities, insurance management, financial audit and much more.

Unlike Microsoft, which offers similar blockchain solutions through its Azure platform, Baidu has developed the technology by itself, giving it the appearance of a private registry.

In addition to its potential use for payments, Baidu Trust may apply to securitization and the exchange of financial assets. The company says it has developed the first Chinese securitized products using blockchain technology.

With regard to its potential application for digital currencies, it is not clear whether we will see the emergence of a cryptocurrency issued by Baa Baidu in view of China's negative attitude towards the universe. crypto. In September 2017, the government banned local crypto exchanges and ICOs.

In addition to the use cases mentioned above, the Chinese giant of the Web plans to integrate blockchain technology mainly to artificial intelligence. Baidu is indeed one of the world leaders in AI technologies.

To date, Baidu has not made any announcement regarding the start of a large pilot project on its BaaS platform. We recall that in the past, Baidu joined Hyperledger, an international project focused on open source blockchain solutions, as well as SAP's blockchain initiative.