Chinese Internet Giant Baidu Teams With Hainan Province To Accelerate Blockchain Adoption

Blockchain, News | February 22, 2019 By:

Chinese search engine giant Baidu is working with the Hainan province, the smallest and southernmost province of China, to broaden the adoption of blockchain technology.

In October 2018, Baidu partnered with the government of Hainan province and high-tech incubator Hainan Resort Software Community to establish a blockchain research center to promote the use of Baidu’s first decentralized ledger XuperChain.

In its Fourth Quarter and Fiscal Year 2018 Results, Baidu said that it is now offering XuperChain to a wide range of industries in Hainan. Baidu claims that the XuperChain blockchain can handle over 55,000 transactions a second using interchain parallel and sidechain technologies. It helps multiple parties execute transactions without the need for a trusted, central authority, addressing challenges commonly faced in information security, copyright verification, supply chain financing, online trading and other areas.

The search engine giant also announced that it is working with the Beijing Internet Court to develop an electronic-evidence platform using XuperChain. As of December 2018, Baidu said that over 93 million patents were stored and protected on XuperChain’s copyright protection system.