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Huawei launches its own cloud blockchain service

Huawei, the Chinese telecommunications and electronics giant, announces its descent into the field with cloud business services including blockchain.

The announcement was made at the Cloud Summit in Hong Kong and also signaled the strategic willingness of the multinational to invest heavily in the autonomous territory to make it the engine of innovation for the whole of China. Over 1,000 companies and entrepreneurs from Guandong, HK and Macao were present at the summit.

The offer of the Huawei platform is very articulated and complete and includes:

  • Huawei Enterprise intelligence, Huawei’s AI solution, including OCR, and understanding of natural language;
  • Decentralized blockchain services with all the positive features of DLT, from traceability to non-modifiability dedicated to the growth of a real Chinese financial hub;
  • The solution is already integrated with IoT including over 1000 objects already modeled for this solution;
  • the presence of over 40 companies already able to offer 250 ready solutions.

Huawei claims that its solutions are the smartest and best value for money, suitable for companies in both the private and public sectors, and with a high level of service included. The imaging recognition service, also facial, is very advanced, already actively implemented successfully by the Shenzhen police force and, in the medical sector, by Kingmed Diagnostic.

The development of these new cloud solutions will be concentrated in Hong Kong and in its territory which, in corporate projects, will become the main hub of AI development for the Far East. The company has very ambitious programs which, however, will have to face the strong competition of the three main world groups that offer combined cloud and blockchain services, namely Amazon with AWS, Microsoft with Azure and Google.

However, Huawei does not lack resources, having billed 92 billion dollars in 2017, and can also count on the direct support of the Chinese government, which will be very important in spreading the system within the People’s Republic.

Fabio Lugano
Fabio Lugano
Graduated with honors from Bocconi University, Fabio is a consultant for companies and wounded shareholders of the Banche Venete. He is also the author of "Scenari Economici", and lecturer and analyst of cryptocurrencies since 2016.