The China-based telecommunications equipment manufacturer is the latest technology company in the country that has embraced the blockchain-as-a-service (BaaS) network.
The announcement was made during the Analyst Conference held on Tuesday, 17th April 2018, in Shenzhen, China. The company’s new platform has been named Blockchain Service and is “a high-performance, high-availability and high-security blockchain technology platform for businesses and developers. It can help companies and developers create, deploy and deploy quickly and cost-effectively on Huawei Cloud. Manage blockchain applications,” according to Huawei.
Now, any company interested in developing Smart Contracts is able to succeed it using a Distributed Ledger Network provided by Huawei.
We want to remember that Huawei is an active member of the Hyperledger Blockchain Consortium since October 2016. In correspondence with this, the company’s new platform was designed on the Hyperledger Fabric 1.0.
Clients can build Smart Contract applications
According to the White Paper, published on the Huawei’s website, the blockchain-as-a-Service platform is currently offering clients the ability to design apps based on Smart Contracts that can be linked to “the supply chain, tokenized securities assets and public services such as ID verification and financial auditing.”
Huawei is involved more and more in the development of blockchain technology and its implementation in the country’s services. As previously reported by Coindoo, only in March 2018, the giant company has announced about its open-source blockchain Tool and the idea of launching a blockchain-based Smartphone.