Search Giant Baidu Launches Blockchain-as-a-Service Platform

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

Based on technology developed by Baidu, the open platform sets out to provide the most “user-friendly” blockchain service.

According to the firm’s dedicated website, “Baidu Trust” allows the conducting and tracing of transactions, and can be applied in various use cases, including digital currency, digital billing, bank credit management, insurance management financial auditing, and more.

Baidu says the technology has already been applied in asset securitization and exchange, and claims it has contributed to the “first asset-backed securities exchange products using blockchain technology in China.”

With the move, Baidu follows Chinese internet conglomerate Tencent in launching its own suite of blockchain services.

Announced in April 2017, the company said it would use the technology – coincidentally called “TrustSQL” – to offer digital asset management, authentication and “shared economies”, among other services.

While maybe a little behind on launching its BaaS platform, Baidu was an extremely early adopter of bitcoin. Notably, it announced in October 2013 that it was accepting payment in bitcoin for its Jiasule service, which improves websites’ performance, speed and security.

Baidu headquarters image via Shutterstock

The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Have breaking news or a story tip to send to our journalists? Contact us at [email protected].

You may be interested

Alibaba and Microsoft AIs Outperform Humans in Reading Test
AI
shares24 views
AI
shares24 views

Alibaba and Microsoft AIs Outperform Humans in Reading Test

Brian Evans - Jan 16, 2018

Machine learning is one of the more interesting industries to keep an eye on right now. Various technology giants have shown a great interest in this technology,…

Most of the World’s Biggest Cryptocurrencies Are Down Today
Bitcoin
shares32 views
Bitcoin
shares32 views

Most of the World’s Biggest Cryptocurrencies Are Down Today

Brian Evans - Jan 16, 2018

The top 20 cryptocurrencies by market capitalization are all down today in excess of 10 percent, market data reveals. According to CoinMarketCap.com, those cryptocurrencies have fallen by…

Dallas Mavericks to Accept Bitcoin ‘Next Season,’ Says Owner Mark Cuban
Accepts Bitcoin
shares31 views
Accepts Bitcoin
shares31 views

Dallas Mavericks to Accept Bitcoin ‘Next Season,’ Says Owner Mark Cuban

Brian Evans - Jan 16, 2018

Advertisement Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month.Dallas Mavericks owner Mark Cuban said that the NBA team will accept bitcoin beginning…

Most from this category

%d bloggers like this: