After announcing its European expansion described as an important landmark for organization cloud acceptance in the EMEA region, the cloud computing arm of Alibaba Group has recently announced the development of its Blockchain-as-a-Service (BaaS) posing to main worldwide markets such as South East Asia, the US, and Europe. Alibaba Group has been capitalizing in blockchain technology for a long time. According to reports, in 2017 it held 10 percent of all global blockchain patents, trailed closely by IBM.
As organizations look at how they can take advantage of the blockchain, and recognize what are the applications of the technology, and this way blockchain-as-a-Service offering seems with more and more vendors. Alibaba Cloud service is currently based on 2 major blockchain technologies that are the Ant Blockchain and Hyperledger Fabric. It offers an environment in which clients can create the tool applications for blockchain.
The Hyperledger material is one in all 5 UNIX Foundation comes targeted on open supply blockchain technology. The material is a foundation for emerging distributed blockchain ledger applications among a standard design. It has ten business blockchain and distributed ledger technologies.
Ant Blockchain was established by AliCloud parent company, Alibaba Group’s monetary affiliate hymenopteron monetary Services cluster. It’s an exclusive blockchain platform that’s backed by a safe pool blockchain network.
These platforms are based on foremost blockchain technologies, with the purpose of serving clients to create a safe and unchanging environment for blockchain applications.
Alibaba has had a stronghold on the Chinese market for some time but has recently been closing the gap on its competitors — namely AWS, Google, Microsoft, and IBM — in the greater Asia-Pacific region. In early October, research firm GlobalData called AliCloud a force to be reckoned with in the region.
“It has a strong presence and mindshare in China where it has almost 50 percent of the IaaS [infrastructure-as-a-service] market share,” GlobalData analyst Siow Meng Soh told SDxCentral at that time. This is a big competitive advantage as other cloud providers have had a tougher time penetrating the market in China due to political and regulatory reasons.
According to Yi Li, Senior Staff Engineer and lead of Alibaba Cloud Blockchain Service, the firm clients in China have already experienced the assistance from our BaaS platform and they are happy to extend this service to other company clients all over the world. Alibaba Cloud is also the first blockchain service provider of Intel SGX security technology. The firm’s main objective is to become a technology partner that allows companies that wish to use blockchain to accelerate their digital alteration.