Huawei’s Blockchain Ambition: A $ 8.5 Billion Market
China’s telecoms giant and smartphone maker Huawei announced to launch a blockchain-based open-source platform at the China Ecosystem Services Partnership Conference 2018. A Bao Association, a mutual assistance community powered by BCS (Blockchain Service).
A Bao Association would invite parties including “business platform, assessment agency, escrow agent, third-party payment platform and regulatory authority” to get involved. Each member of the association is an independent client of Huawei cloud and connected to form the mutual assistance community. According to the agreement of the association, users could get guarantee in medicare, health or accident with a voluntary payment of 9 yuan.
Huawei is a leading global information and communications technology (ICT) solutions provider, mainly focusing on ICT portfolio of end-to-end solutions in telecom and enterprise networks, devices, and cloud technology and services. Its ICT solutions, products, and services are used in more than 170 countries and regions, serving over one-third of the world’s population. Huawei’s move to step closer to blockchain means a lot to the industry.
Blockchain fever in smartphone sector
It is recently reported that Huawei is in talks with Sirin Labs, maker of blockchain-based operating system Sirin OS, to build a blockchain smartphone. And the operating system would run alongside Android. While according to an insider, no agreement has been in place yet between the two companies, Huawei could be the first major smartphone manufacturer to adopt blockchain technology if a deal is made. Talking about this news, while Yu Chengdong, Huawei’s chairman of Terminal Department, said, “I’ve never heard about it”.
Earlier on March 20, Lenovo claimed to unveil the first blockchain phone – Lenovo s5 in Beijing, with a quite competitive price starting from 999 yuan ($ 158). While 8btc noticed that few English resources related to s5 mention its blockchain feature. A small-sized smartphone maker, Sugar Phone, partnered with Ethereum Fog, has quietly launch a blockchain phone in January ahead of Lenovo.
It is speculated that the aforementioned smartphone makers are just taking advantage of the buzzword “blockchain” to revive their ailing mobile arm or put itself under the spotlight, or even having no idea how the news comes out.
Huawei’s ambition on blockchain
May 2016, Huawei joined the Financial Blockchain Shenzhen Consortium, an association claiming to be a Chinese counterpart of Dubai’s Global blockchain Committee and Linux Foundation, aiming to integrate and coordinate resources in financial blockchain technology to enhance enterprises’ capability in blockchain R&D and scenario application.
October 2016, Huawei, as the first smartphone giant who publicly supports blockchain technology, joined Hyperledger, a blockchain project led by Linux Foundation.
Jan 2018, Huawei partnered with a domestic green energy company to explore application of blockchain in microgrid and smartgrid.
Since May 2017, Huawei has been developing solution for evaluating blockchain performance of different blockchain platforms, known as Project Caliper.
As its former chief expert in blockchain Huang Lianjin stated,
“Blockchain technology would be adopted by a majority of enterprises in the future, and it needs to run on the cloud. While it seems impossible for enterprises to develop their own blockchain, so they may choose to run on Aliyun (cloud of Alibaba), Huawei Cloud or AWS. It is in fact a quite large blue ocean (uncontested market). Suppose you just take a 5% share of the current public cloud market to blockchain, that is a market worth $ 8.5 billion.”