Chinese search giant Baidu opened a subsidiary blockchain-company

Chinese search giant Baidu opened a subsidiary blockchain-company


According to the National system of announcement of credit and corporate information, the Chinese search engine Baidu in late August, registered in Hainan, a subsidiary company that will focus on developments in the field of blockchain and online games. This writes 8btc.

The new company was named Dulian Internet Technology, its authorized capital is 50 million yuan, and its president was vice president of Baidu Xiang Hailon. The company’s activities include research and development in the field of blockchain, the development of e-sports software, as well as the organization and management of sports events.

Baidu took up blockсhain in 2015, and in mid-2017 Baidu Finance launched an open BaaS platform (short for “blockchain as a service”), intended for payments and settlement operations, digital processing of accounts, management of bank loans and insurance, financial audit, etc.

In 2018, the Chinese Internet giant aims to accelerate the development of blockchain-products and services. In February, Baidu Finance launched a new CryptoKitties-like service Leci Gou; In April, the company introduced a blockchain-based platform to protect the rights to images; in June, she released a blockchain application for Duyuzhou tests; in the same month Baidu introduced Super Chain – a new blockchain-protocol, designed to reduce energy consumption during the mining process.

At the same time, Baidu joined the recent initiatives of the Chinese government to tighten trade in cryptocurrencies and ICO. As reported in late August, the Chinese edition of the China Times, the search engine closed in its forum Tieba (which works on the same principle as Reddit), several popular sub-forums related to cryptocurrencies.

The sympathy for the blockhain is demonstrated by the entire BAT triple (Baidu, Alibaba and Tencent, the three largest technology companies in China) – these IT firms promote the spread of blockchain technology in a variety of different industries. For example, Ant Financial – a payment “daughter” of Alibaba – took advantage of the blockchain in the service of international money transfers and in solving problems of food security. Tencent, among other things, uses blockchain to help local fiscal authorities in the fight against tax evasion.

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