Baidu Blockchain Lab, along with the Baidu Search Engine and the Baidu Institute of Marketing, released its first ever blockchain white paper, titled “Baidu Blockchain White Paper V1.0”. The document focused on XuperChain, Baidu‘s proprietary blockchain network, and the commercial applications of Baidu‘s blockchain technology.
The 48-page report is divided into four chapters: blockchain development, the overall structure of Baidu‘s work on blockchain, the company’s commercial blockchain solutions, and the industry applications of Baidu‘s blockchain technology.
Baidu has been focusing heavily on the development of blockchain technology in 2018, with most of the work done through the Baidu Blockchain Lab founded earlier this year. Since then, Baidu has introduced XuperChain (the company’s own blockchain network), launched Totem—a blockchain-based stock photo service and the first application developed using XuperChain, and added blockchain functions to its online encyclopedia Baidu Baike.
The document also detailed Baidu‘s commercial plans for its blockchain technology. Along with Baidu Cloud, Baidu Blockchain Lab has created a whole suite of blockchain-as-a-service (BaaS) solutions tailored towards enterprises and governmental organizations. Baas is a new blockchain-based cloud service that can help users set up their own blockchain networks quickly. It can drastically lower the cost of developing, operating, and maintaining these networks.
Baidu‘s commercial blockchain solutions will be applied to six key areas, such as finance at its financial arm Duxiaoman, AI Internet of things, gaming, and copyright protection and so on. Baidu has already begun experimenting with the application of its blockchain technology in the areas of content copyright, information security, digital advertising and more.