Baidu Doing Blockchain Shows Just How Important Crypto is as a Trend

Chinese internet company Baidu today officially launched its open-source blockchain network, known as Superchain. Superchain aims to provide an out of the box solution for small to medium-sized businesses, as well as developers.This represents a significant advancement for the crypto space. But Baidu’s decision to “do blockchain” was primarily born from a need to diversify its business model. All the same, this only demonstrates confidence in crypto as an enduring technology.Baidu and Blockchain https://t.co/8ImgMOazQo pic.twitter.com/ziiqRixfki— Matthew Graham (@mg0314a) January 6, 2020Baidu’s Superchain Had Lofty AmbitionsDetails of Baidu’s foray into the crypto space first emerged on September 2018, on the release of the Baidu Blockchain White Paper V1.0.Back then, it was very much touted as a Chinese developer’s dream. Senior R&D Engineer at Baidu, Sun Junyi, acknowledged that there’s no shortage of high-quality public chains, such as EOS, but he sees room for Superchain as it was made with Chinese developers in mind.“the initial goal is to create a self-developed, high-performance, modular block chain system… We still want to promote domestic self-development, we hope to create a suitable blockchain development platform Chinese developers.”Also, Junyi spoke of the multi-faceted applications for Superchain. These included expected uses, such as traceability in the supply chain, and immutable records for justice administration. But more futuristic was Junyi’s talk of AI.“Block chain technology and AI combine to amplify the value of both sides.”Scaled Back FunctionalityHowever, today’s press report shows a project that has been scaled down from Baidu’s original plans. With no mention of AI whatsoever. Instead, there is talk of a network of supernodes throughout China as well as ready compliance with Chinese regulations.It provides users with an environment for rapid deployment and operation of blockchain applications, and computing. The flexible payment capabilities of resources such as storage and storage directly reduce user deployment and operation and maintenance costs, and make trust links more convenient.

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