Huawei filed a patent application for blockchain ledger storage technology earlier this year, with the announcement coming in mid-July through the Tianyancha database. The filing marks the latest move
Huawei filed a patent application for blockchain ledger storage technology earlier this year, with the announcement coming in mid-July through the Tianyancha database. The filing marks the latest move by the Chinese tech giant into a sector where Beijing has made strategic investments.
Blockchain represents an older focus for Huawei. The company holds multiple patents covering data archiving and settlement methods for payments. In 2018, Huawei launched Blockchain Service (BCS), a platform designed to let enterprises and developers deploy blockchain applications on HUAWEI CLOUD without major infrastructure costs.
This month, Huawei partnered with Nanshan District in Shenzhen to develop the Kunpeng industrial ecosystem, integrating blockchain infrastructure with artificial intelligence and 5G technology.
The company participates in China's National Blockchain and Distributed Accounting Technology Standardisation Technical Committee, where 71 firms are represented. The Ministry of Industry and Information Technology oversees the committee. Huawei has also signed a strategic cooperation agreement with the People's Bank of China regarding the Digital Yuan, which remains in development. The specific details of the arrangement have not been disclosed.
China's blockchain development extends well beyond Huawei. The Ant Group operates AntChain, a blockchain workstation that can deploy systems in 20 minutes, a 30 percent reduction from typical setup times. Ant Group also joined the E-seal initiative, which applies blockchain technology to reduce paperwork and provide safeguards against data tampering.
Beijing has released a 145-page action plan for blockchain adoption across the city. The plan outlines how blockchain will reshape communication between companies and government agencies. The city currently operates 140 government services on blockchain infrastructure.
The government's expanded investments in blockchain demonstrate the technology's importance to China's future. Over the next decade, blockchain will anchor the country's technological development strategy.
