Alibaba Unveils Blockchain-as-a-Service Product October 28, 2018 October 28, 2018 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsOctober 28, 2018 by Kelly Cromley

Alibaba Unveils Blockchain-as-a-Service Product

While the Chinese regulator is wrecking the crypto currency industry in the country, Alibaba was quite optimistic about blockchain technology thanks to its visionary leader Jack Ma. Alibaba now continues its support for Blockchain and has opened doors to the rest of the world with the Blockchain as a Service (BaaS) product.

Per the report published in Asia times, one of China’s largest businesses is diversifying and widening its blockchain products across the world. The ecommerce giant Alibaba is expanding its “blockchain as a service” (BaaS) solution to the rest of Asia, the USA and to Europe.

It will be introduced in 19 regions with the support from 52 of the company’s data centers. Alibaba cloud’s BaaS solution unveiled in China in October last year. The solution offered users a number of products and services to develop and host their own blockchain-based products. This includes apps and smart contracts.

Alibaba explained that it offers “an enterprise-level platform service based on leading blockchain technologies [that] helps customers build a secure and stable environment for blockchain implementations.”

Furthermore, Yi Li, senior Staff Engineer and lead of Alibaba Cloud Blockchain, elaborated that BaaS has an objective to “become a technology partner that enables companies that wish to use blockchain to accelerate their digital transformation.”

The BaaS offer consists of an “automatic deployment” facility as well as the development of blockchain supervision systems and smart contract and customer certificates.

The platform can, say the developers, also support the development of “software development kit applications” while providing a selection of “monitoring, operating, and maintenance functions.”

Since its introduction last year, the platform has found applications, says Alibaba, primarily for Chinese logistics and medical industries. The platform will presently be available in 19 regions across the world via a network of 52 Alibaba data centers.

Alibaba cloud also added two UK data centers to its global portfolio that, according to Alibaba cloud’s EMEA general manager, Yeming Wang, will use “AI-powered and data-driven technology” to present a range of facilities that come with “machine learning capabilities to predictive data analytics.”

The news of Alibaba opening doors to the world has been welcomed by the crypto sector.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.