Huawei Announces Hyperledger-based Blockchain Service Platform for Enterprises

During the last couple of years, the telecommunications and smartphone company Huawei, has quickly grown in size, given their expansion in numerous European countries and other regions of the world. Now, reports indicate that Huawei is involved with blockchain technology as well, given the fact that they have now become the newest large tech corporation to launch a blockchain-as-a service platform (BaaS).

The initial announcement was made at the Huawei Analyst Conference in Shenzhen. Here, Huawei presented the Blockchain Service, and described how it will help companies quickly develop smart contracts that can be run directly on the blockchain network. The conference also included a few case studies, where the Chinese tech giant gave feasible use cases, especially for enterprises.

Huawei has been both a member and a contributor to the Hyperledger Blockchain Consortium created by the Linux Foundation. Therefore, it goes without saying that the BaaS platform is based on the Hyperledger Fabric 1.0, which has been confirmed by the co-author of the project white paper for Huawei, Hu Ruifeng.

Once it is released to the public, the Blockchain Service will allow clients to create smart contract-based applications, applicable in numerous niches, such as supply chain management, financial audits, identity verification, tokenized securities, public services and more.

At this moment in time, Huawei is also working on Project Caliper, which is software that allows performance testing of major blockchain networks.

It is important to keep in mind the fact that Huawei isn’t the first large tech corporation in China to experiment with blockchain technology. Rather, both Baidu (China’s most popular search engine) and Tencent have recently released their own BaaS platforms, of course, with slight differences in services and features being offered.

These developments showcase once again that there is a clear difference between digital currencies, and blockchain technology. Countries which have dismissed bitcoin, or negatively regulated it, continue to be interest in distributed ledgers and their massive potential.