Chinese search engine giant Baidu has launched Blockchain-as-a-Service (BaaS) platform and has rolled out a dedicated website https://chain.baidu.com/.
Called ‘Baidu Trust’, the BaaS is “a self-developed project based on blockchain technology,” according to the translated version of the text on the official website.
Baidu Financial told local media outlet that the platform (or probably its pilot version) was launched in July last year. Baidu Trust has already supported the authenticity of over 50 billion yuan of assets.
“Baidu Trust has been successfully applied in asset securitization and asset exchange business and has contributed to the first asset-backed securities exchange products using blockchain technology in China,” the official website reads. “Baidu Trust is committed to creating the most user-friendly blockchain tool. To facilitate the deployment of access, reliable decentralized trust mechanism, robust service capabilities, rich operation and maintenance tools and excellent system performance as the goal. Rely on underlying technical features for safe, efficient and low cost traceability and trading, ideal for digital currency, payment and settlement, digital ticketing, bank credit management, equity proof and exchange-traded securities, insurance management, financial auditing and more.”
Baidu, which became a premier member of Hyperledger consortium in September 2017, has been involved in the blockchain space for a couple of years now. In early 2015, it started exploring the technology in the field of finance and the following year it made an investment in blockchain startup Circle.
In May 2017, Baidu Finance, in collaboration with Baiqian Leasing and Huaneng Trust, announced the issuance of the first blockchain-based ABS product in China with 424 million yuan.
