Baidu, the company behind the most important search engine in China, has announced to the public the release of the final version of a whitepaper with all the details of a service project based on the use of blockchain technologies.
With this decision, the Asian giant is focusing on innovative technologies to strengthen its business model. Baidu's vision is in tune with that of the Chinese government, which is sure that the use of blockchain technologies can be instrumental in the development of many industries, especially those that have some relationship with technological services.
Previously, Baidu had announced the intention to experiment with the development of blockchain technologies; however, the public had to wait until this week to learn more in detail what ideas the Asian giant intends to implement.
Baidu: not just a blockchain but a XUPER chain
According to information in the White Paper, Baidu plans to develop a "super chain" that will optimize the performance of the company by providing services related to supply chains, intellectual property, commerce, tourism and social networks.
Baidu Blockchain Lab has released Baidu #Blockchain Whitepaper v1.0 today, introducing the XuperChain network system of independent laboratory research. By integrating XuperChain w / AI + Big Data, we have released 6 applications, incl. #Totem, in the field of the right of author, of the security of the information and other! pic.twitter.com/0DGrMUaPqD
– Baidu Inc. (@Baidu_Inc) September 26, 2018
In turn, this excellent chain will serve as an aggregator for different sidechains, which will work independently with different applications.
The white paper explains that there will be at least six applications running on this blockchain: Totem, Degree Universe, Baidu Association, Treasure Chest, Encyclopedia Online (which has worked with accounting technology distributed since May) and Hubert. Moreover, the services offered by the so-called super chain will deal with digital rights, certification scenarios, compensation and settlement, digital resources and game development.
Baidu assures that its architecture is much more efficient than a traditional blockchain because the hardware resources necessary to guarantee its operation are minimal. To achieve this, the Baidu team developed a "multi-core parallel processing technology to maximize CPU utilization and increase performance".
In early 2018, Baidu launched a BaaS (Blockchain as a Service) solution focused on the processing and monitoring of transactions and payments. According to the company, this technology could be used in billing applications, bank loans and insurance.