​​Chinese web search giant Baidu launched its own blockchain-as-a-service platform

Based on technology developed by Baidu, the open platform sets out to provide the most “user-friendly” blockchain service.

According to the firm’s dedicated website, “Baidu Trust” allows the conducting and tracing of transactions, and can be applied in various use cases, including digital currency, digital billing, bank credit management, insurance management financial auditing, and more.

Baidu says the technology has already been applied in asset securitization and exchange, and claims it has contributed to the “first asset-backed securities exchange products using blockchain technology in China.”