BATX are for China what FAANG are for the US. In a previous article, we discussed how were FAANG doing in blockchain. Let’s see in this article how BATX are doing.
In a statement from February 2019, Baidu announced the launch of Baidu Blockchain Engine (BBE), a blockchain platform to make the development and deployment of Dapps as easy as mobile apps. The platform offers a secured IT environment, advanced computing and storage capabilities. BBE has reportedly proven track record in multiple use cases including IoT, chemicals supply chain, financial data collection and assets securitization.
On March 6th, 2019, in an article from China’s largest state-owned newspaper, Alibaba’s Vice President Liu Song stated that the company is considering the deployment of a blockchain for its supply chain. Targeting explicitly complex supply chain systems, he claimed that the technology could ultimately help create a closed-loop ecological system, with is quite ambitious as the latter expression refers to ecosystems that do not rely on exchange with any part outside the system.
Back in December 2018, Alibaba Group had already announced an upgrade of its service platform to a cross-border supply chain platform with the use of IoT and blockchain technologies. Its Blockchain-as-a-Service (BaaS) is expected to be expanded to major international markets including Europe, the US and Southeast Asia. It came up with Food Trust Framework, a platform enabling its users to buy online with the assurance that safety norms had been respected throughout the whole process.
Tencent’s blockchain experience spans several years and comprise activities from several sectors such as transport. For instance, the tax bureau in Shenzhen worked closely with Tencent Financial Technology to roll out blockchain-based invoicing for transport systems in Shenzhen, including subways, taxis and airport shuttles.
The first blockchain-based invoice was issued for the metro departing from Shenzhen Futian station on the 18th of March 2018. Passengers can view a blockchain-based invoice after they’ve completed their trip. Once the transaction is complete, the platform will automatically generate an electronic invoice which can be found within the WeChat or Shenzhen Metro mobile apps.
The company is reportedly currently using blockchain in other areas such as healthcare and insurance. According to a Bloomberg report from April 2019, Tencent is collaborating with a local health insurance disruptor to help automate reimbursements.
Recruitment information shows that Xiaomi has been recruiting senior Blockchain development engineers and server development engineers from early 2018, marking its formal entry in Blockchain.
The company is reportedly looking forward dealing with problems of mistrust, cheating, and the waste of resources in data collaboration, advertisement delivery, and effective monitoring in the advertising industry. It is studying Blockchain technology to have an effective anti-cheat system and resolve IP inconsistencies and other issues.
Check the full version of Blockchain Quarterly (Q1 2019) report for more Insights.