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Huawei, a Chinese multinational leading global information, and communications technology has stepped into the blockchain space. The company is all set to launch their own BaaS platform named Blockchain Service [BCS] and has released their blockchain white paper on their official website. According to the white paper, 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. The blockchain uses consensus algorithm, shared ledger, P2P network, smart contract engine, persistent storage and blockchain security and privacy (SM2, SM3 & SM4).
Lenny Jacob, a blockchain and cryptocurrency enthusiast says:
“It’s good to see all the top companies around the globe embracing blockchain technology. They know what the real deal is and are stepping forward to shape a better future. Blockchain will definitely pave path to an easier and secure future”
Ben Larson, a cryptocurrency investor, and trader says:
“China is cool with blockchain but banned Bitcoin. If only someone could make China release the potential of cryptocurrency”
addition, Huawei will be serving as the Vice President of the Trusted Blockchain Alliance, a co-operation platform for the government, universities, industry and research sectors in order to support China’s top-level blockchain design and help build a win-win and harmonious industry environment. Huawei will be working along with 150 companies which include JD Finance, China Mobile, China Telecom, Tencent, and Chainnova.