Huawei rolls out its BaaS blockchain-based platform

Friday 20 April 2018 10:41 CET | News

Huawei has announced is stepping into the blockchain space with its new BaaS platform.

The company is all set to launch their own BaaS platform named Blockchain Service [BCS].

According to a white paper released by the company, Huawei’s top priority is piloting blockchain in various industries like supply chain, finance, IoT based logistics, connected cars, carriers cloud network synergy and government data storage. The white paper even talks about the crucial need of advanced security while constructing blockchain and says that the blockchain service will be making use of three layers i.e, cloud, pipe and devices and a combination of software and hardware protection in order to provide a highly reliable and secure system.

Huawei will be providing one-stop blockchain platform services to all its developers and enterprises which includes planning, purchase, configuration, development, product launch and O&M. The platform promises high performance, security, and reliability to all the users. The key features of the product are flexibility, on-demand charging and visualized data management and thereby increases the usability and decrease the on-going and initial usage costs, claims the company.

The blockchain uses consensus algorithm, shared ledger, P2P network, smart contract engine, persistent storage and blockchain security and privacy (SM2, SM3 & SM4).

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Keywords: Huawei, BaaS, blockchain, supply chain, IOT
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: World
This article is part of category

Banking & Fintech