Chinese Internet search giant Baidu is launching its own blockchain-as-a-service (BaaS) platform.
The open platform is based on the technology developed by Baidu in order to create the most “user-friendly” blockchain-service.
According to the company website, “Baidu Trust” allows you to conduct and track transactions, and can also be used in various ways for crypto-currencies, digital billing, bank credit management, the financial audit of insurance management, etc.
Baidu claims that the technology is already being used for securitization of assets and their exchange, and is also the “first asset-backed exchange in China using blockchain technology”
Thus, Baidu follows the Internet conglomerate Tencent, which launched its own block of blockchain services.
In April 2017, the company announced that it would begin using a technology called “TrustSQL” to provide asset management services, authentication, “shared economy”, etc.
Even before the launch of the BaaS platform, Baidu was one of the first companies to start using bitcoin. In October 2013, it was announced that the company would begin taking bitcoin as payment for using the Jiasule service, which improves the performance, speed, and security of sites.