Chinese Internet giant Baidu is launching a blockchain-based platform

Chinese Internet giant Baidu has launched a blockchain-based platform based on the concept of BaaS (the blockchain-as-a-service – the blockchain as a service). The service enables to keep track of transactions and can be used for payments in the digital currency, control of Bank credits, insurance management and financial analysis.

According to Baidu, the technology is already used in asset securitization and exchanges, including «China’s first stock exchange asset-backed securities, using the technology of the blockchain».

The company emphasizes the adaptability of the product, which «will make the platform suitable for the most different applications.» Baidu also conducts research in the field of blockchain, drones, artificial intelligence (AI), the Internet of things (IoT) and cloud computing.

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