Chinese Internet Giant Baidu Launches Blockchain-as-a-Service Platform
Chinese web search giant Baidu (NASDAQ:BIDU) has now launched its own blockchain-as-a-service (BaaS) platform, calling it the “most user-friendly” blockchain service in the industry.
According to Baidu, this platform was built on the company’s self-developed project, and it can make and trace transactions related to digital currencies, digital bills, bank credit management, insurance management and financial auditing.
This BaaS platform launch is seen as a move to combat its Chinese rival Tencent, which already rolled out its own BaaS service a few months ago.
Get latest cryptocurrency news on bitcoin, ethereum, initial coin offerings, ICOs, ethereum and all other cryptocurrencies. Learn How to trade on cryptocurrency exchanges.