For many, Baidu is the alternative to Google in China. The Internet giant is very popular in the Eastern market. As of lately, it has launched its own blockchain-as-a-service (BaaS) platform and labeled it is ‘the most user-friendly’ blockchain service in the industry.
According to Baidu, the platform was built on the company’s self-developed project – designed to make and trace the transactions that are related to digital currencies, bulls or insurance management and auditing.
The platform’s launch is seen as big news, especially because Baidu wants to combat its rival Tencent which already rolled a BaaS service a couple of months ago. In a forum in Chengdy in November 2017, Guo Rui (Vice President of Payment in Baidu) said:
“We independently developed a complete set of bottom-layer blockchain protocols and actively participated in the formulation of credible blockchain standards for China Institute of Information and Communications.”
Rui also stressed the importance of the blockchain industry nowadays and its potential to be the next big boom in the digital world. After Baidu and Tencent, the eyes are on the tech giant Alibaba which is also in the process of developing its own blockchain technology.
Jack Ma, the CEO of Alibaba already said that he has a team specifically studying blockchain and noted that they already spent a lot of efforts on the technology and how it could possibly be implemented.
With the Baidu blockchain platform launch, the top three tech firms in China have entered the global blockchain revolution – and Alibaba is following their moves.
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