Huawei launches blockchain platform based on the concept of BaaS

Largest telecommunications company, Huawei of China joined the ranks of tech giants that started the blockchain-a platform based on the concept of BaaS (the blockchain-as-a-service – the blockchain as a service). A new platform called the Blockchain Service was announced at a conference in Shenzhen on Tuesday, where representatives of the company said that it will allow businesses to develop smart contracts for multiple usage scenarios on top of the network of the distributed registry.

According to Hu Guifen (Hu Ruifeng), engineer at Huawei, who is also the co-author of the White paper project, the new platform Huawei established on the basis of Hyperledger Fabric 1.0, as the company from October 2016, is a member of the consortium Hyperledger Linux Foundation.

Fabric Hyperledger version 1.0 was first released
in July last year and became a key milestone for private blockchain projects with open source because it has reached the stage that allows development of enterprise applications.

According to the official documentation, the BaaS platform currently enables clients to create applications for smart contracts, focused on the supply chain, licenzirovanie stock assets and implement services such as ID verification and financial audit.

This launch marks the latest technological development from Huawei in its efforts to introduce the technology of the blockchain and follows the recent efforts of engineer Huawei Zhou Hatsune (Haojun Zhou) on the drafting of the Caliper — the software designed to test the performance of the main block chain.

Huawei clearly wants to keep up with the largest Internet and technology giants in China – Baidu and Tencent, which has also launched its own blockchain platform. The Chinese company JD.com also reported
on startup, the blockchain platform based on the concept of BaaS last month.

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