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Huawei Releases Its Blockchain White Paper, Keeping Distance From Cryptocurrency

Huawei, the world’s third largest smartphone maker, has unveiled a blockchain white paper detailing the blocckhain service( BCS) offered by Huawei’s cloud unit on April 17 at the annual analyst meeting in Shenzhen.

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Zheng Yelai, president of Huawei’s cloud business unit,stressed that Huawei Cloud is committed to becoming an enabler for the blockchain industry, and will not provide virtual currency-related service.

According to the white paper, Hua wei is an early blockchain pioneer, which joined the Linux Foundation-led Hyperledger blockchain consortium in October 2016. And the Chinese electronics giant released BCS, a cloud blockchain service platform on March 30, which focuses on helping companies create enterprise-level blockchain solutions and applications. BCS is based on open-source blockchain and Huawei’s years of technology accumulation of  distributed parallel computing, data management, and encryption,

It is reported that BCS enables enterprises to deploy blockchain technology within 5 minutes. And the platform concentrates on 9 application scenarios, including data assets, IoT, operation, identity verification, data certification, data transactions, new energy, philanthropic donations, and inclusive finance.

“Blockchain features such as decentralization, immutability, and traceability enable it to solve some problems in various areas, including identity verification, food traceability,  Internet of Vehicles (IoV),  IoT Device Management, supply chain finance,etc.” Zheng said. “ Meanwhile, the decentralized framework will definitely lower efficiency. Therefore, the technology cannot solve all problems.”

Although Huawei is bullish on blockchain technology, the smart phone giant still turns its noses up at cryptocurrencies. “ Cryptocurrency is just an use case of blockchain. Huawei will not jump on the cryptocurrency bandwagon, but only focus on becoming the enabler of blockchain industry.” Zheng said.

Ren Zhengfei, founder and president of Huawei, denied blockchain being the priority target in Huawei’ s strategy in early April, as 8BTC previously reported.

 “Blockchain hasn’t been mentioned on the schedule of our company. Innovation on algorithm and computing power is extremely sophisticated and extremely difficult.” Ren said.

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