huawei launches world wide blockchain serviceTelecommunication and cell phone manufacturing company Huawei has initiated a Blockchain Service (BCS) for users across the world which is accessable through Huawei Cloud. The service was launched worldwide after receiving critical appreciation in China. The services had been available in China since October 2018.
The official blog post states that the company aims to allow institutions and firms to innovate and implement blockchain applications effectively. It would help in creating a worldwide-distributed platform.
The blockchain is decentralized and will allow the company to earn profits is some use cases. Huawei is in collaboration with Linux foundation since 2016 and helps in managing the open source blockchain project known as Hyperledger.
Hyperledger is a blockchain platform that enables users to create smart contract applications as well as tools for managing supply chains and cryptocurrencies. The company provided technical support as well as wrote codes for the project.
BCS enables the client to unravel data transaction in order to verify the identity of the users. Moreover, this will allow users to provide evidence of their assets as well as their personal information (like qualifications). The technology can also be used to back-trace food items to their sources.
The services are easy to use and users do not need to be technical experts to utilize the services. Clients can use the services at a very reasonable price. The network works rapidly without compromising on security. The network is also very flexible and protects customer privacy.
This move has made it clear that Huawei is pro crypto enterprise. The firm had previously allowed users to download Bitcoin wallets on their devices.
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