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Baidu launches Blockchain-as-a-Service platform

Chinese web search giant Baidu has launched its own blockchain-as-a-service (BaaS) platform.

12.Jan.18 6:52 AM
By Daria Zaytseva


Baidu launches Blockchain-as-a-Service platform

Based on technology developed by Baidu, the open platform offers the most user-friendly blockchain service.

According to the specialized site of the company, "Baidu Trust" allows to conduct and track transactions and can be used in various use cases, including digital currency, digital billing, bank credit management, financial audit of insurance management and much more.

Baidu says the technology is already being used in securitization and asset swaps, and claims that it contributed to "the first asset-backed securities using blockchain technology in China."

With the transition, Baidu follows Chinese Internet conglomerate Tencent in the launch of its own blockchain service package.

Announced in April 2017, the company said it would use technology that coincides with the name "TrustSQL" to offer digital asset management, authentication and "common economies" among other services.

Although, perhaps a little behind the launch of the BaaS platform, Baidu was an extremely early adoptive bitcoin. It is noteworthy that in October 2013 it was announced that it accepts payment for the Jiasule service in bitcoin, which increases the productivity, speed and security of websites.

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