Blockchain, Featured

Alibaba Cloud Extends Its Blockchain Service To Global Market Economy Post Initial Launch In China

Alibaba Cloud extended its blockchain service to the global market economy post launching it initially in China. Incidentally, Alibaba Cloud is the cloud computing arm of the Chinese e-commerce giant, Alibaba Group. The company expanded its Blockchain as a Service (BaaS) facility to a major chunk of global markets including Europe, the U.S., and South East Asia.

The BaaS from Alibaba Cloud provides service of an enterprise-level platform that is based on the leading blockchain technologies for helping customers build a stable and secure environment for implementing blockchains. At present, the BaaS from Alibaba Cloud supports the blockchain applications of enterprise level on Hyperledger Fabric and Ant Blockchain, the two major platforms currently available. Hyperledger includes 10 distributed ledger technologies (DLT) and blockchain technologies. Supported by multi-stakeholders, it is a multi-project blockchain framework implementation, one of which is hosted by The Linux Foundation.

Developed by the financial affiliate of Alibaba Group, Ant Financial Services Group, Ant Blockchain is a multi-patented, proprietary, high-performing blockchain platform. A secure consortium blockchain and trusted computing network guard the security of BaaS.

The strong architecture of BaaS will help the customers develop their own BaaS applications post the global market economy launch on the reliable and effective platform of Alibaba Cloud, reported Alibaba Cloud. The Senior Staff Engineer and Alibaba Cloud Blockchain Service lead, Yi Li said, “We proud ourselves to be the trust infrastructure for business which empowers many innovations across all industries. Our customers in China have already experienced the benefits from our BaaS platform and we are excited to extend this service to other enterprise customers all over the world. “

According to ETH News, Alibaba will now give tough competition to leading names in global cloud BaaS marketplace including Oracle, Microsoft Azure, and Amazon Web Services (AWS) which introduced its blockchain ecosystem and Hyperledger Fabric and Ethereum templates in April this year.

Just a few days ago, Parity Technologies said that Substrate, its blockchain-building platform for all the companies irrespective of the sizes will be launched in November and is expected to create a stir in the global market economy of the blockchain.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Sangati has graduated in biological sciences and also has completed P.G. Diploma in Mass Communication. She has an experience of 14 years writing for leading ad agencies, corporate and media houses, online news channels and websites. She is passionate about writing, reading, music and traveling. Sangati writes blockchain and cryptocurrency news for OWLT Market.

Leave a Comment

Your email address will not be published. Required fields are marked *