The stock of JD.Com Inc. (ADR) (NASDAQ:JD) closed at $ 40.18 losing 0.22% in yesterday’s trading session. Huawei, Telecommunications and Smartphone provider is definitely the one of the latest tech giant in china to unveil a blockchain-as-a-service (BaaS) platform.
It was during Huawei’s analyst conference that was held on Tuesday at Shenzhen that an official working with the company stated that the Blockchain Service would be helping in a number of ways. One of them was that it would be moving quite a long way helping the companies towards the development of a series of smart contracts. And that would be an addition to the ledger network for a number of the use-case scenarios.
Since October 2016, Huawei has remained to be a contributor as well as a member of the Linux Foundation’s Hyperledger Blockchain Consortium. The company is said to have adopted the new BaaS solution on Hyperledger Fabric 1.0 and the information was unveiled a Huawei engineer called Hu Ruifeng. He is the same official that is believed to have co-authored project’s white paper way ahead of the official launch.
It was in July last year that reports came up pointing to the fact that the Hyperledger Fabric 1.0 version had being unveiled and it was a great representation of a major milestone in line with the open-source software as much progress continues to be achieved towards the production-ready status. That was in particular regard to the enterprise application development.
The white paper provides that the BaaS platform at the moment makes it portable for the various clients to proceed and develop smart contract applications focusing a huge deal on the tokenized securities assets, supply chain as well as on the various public services such as financial auditing and ID verification.
This particular launch is a real show casing of the most recent technological developments emanating from Huawei as it continues making a major head way into blockchain technology. It was a short while back that Zhou Haojun, who happens to be a Huawei engineer, proceeded to come up with Project Caliper which was targeted at testing the overall performance of the major blockchains.
It is a move that has been praised by a large number of market observers. JD.com has revealed that it might be taking the same path anytime soon.