Baidu joins global group to advance blockchain technologies

Updated 2017-10-19 17:01:54 chinadaily.com.cn
Zhang Xuyang, vice-president of Baidu.

Zhang Xuyang, vice-president of Baidu.

Chinese tech company Baidu has become a member of Hyperledger, an open source collaborative effort created to advance cross-industry blockchain technologies, on Tuesday.

Among more than 160 members of Hyperledger, which is under Linux Foundation and which aims to create common distributed ledger technology that enables organizations to build and run robust, industry-specific applications, platforms and hardware systems to support their individual business transactions, are Accenture, Airbus, American Express, Cisco, CME Group, Daimler, IBM, Intel and J.P. Morgan.

"We're thrilled to be part of Hyperledger and look forward to collaborating with other members to drive open blockchain solutions forward and to boost setting up of global blockchain standards," Zhang Xuyang, vice-president of Baidu, said.

"It's exciting to see a company like Baidu, which serves the world's largest internet user population, join Hyperledger," said Brian Behlendorf, executive director of Hyperledger. "Their deep understanding in connecting users to information and services will be tremendous experience for us to leverage as we look to expand our reach further in Asia and drive more global production deployments of Hyperledger technology."

A 400 million yuan (.4 million) asset-backed security, which was backed by Baidu's blockchain technology, gained approval for issue on the Shanghai Securities Exchange, Shanghai Securities News reported Aug 21. The security is the first blockchain aided exchange-traded ABS in China.

Baidu, as the technology provider, built a blockchain as a service for the security, with all participating parties on this consortium blockchain, including Baidu Finance, the security provider, the brokers, the rating agency and the law firm.

Information on the asset and on the fundraising company were both disclosed via the blockchain. Baidu also ensured the authenticity, inalterability and indestructibility of this data base via the Consensus Mechanism, an algorithm, and the asymmetric cryptography technologies, both features of the blockchain.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58January 21 2018 06:51:51

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16January 21 2018 06:51:51

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18January 21 2018 06:51:51

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords