Alibaba’s Blockchain-As-A-Service is now global

The Alibaba Cloud has just taken its blockchain-as-a-service platform to the US, Europe and Asia, making the BAAS global.

Blockchain-as-a-service, which is built on Alibaba’s Ant Blockchain system, was launched for the Chinese market in the autumn of 2017. But this week, Alibaba announced that it is taking its BAAS globally.

Alibaba says that their BAAS is a sophisticated service for multiple industries and enterprises such as logistics and public benefits systems. Once the system was proven successful in implementing different blockchain optimizations, the company decided that it is time for the service to go in multiple continents.

In addition, BAAS is primarily targeted at companies that want to address their digital transformation needs in more depth and help them accelerate business growth through blockchain.

All applications built on either Ant Blockchain or Hyperledger Fabric will be supported by Alibaba.

The service will be secured by Intel SGX to protect users from cyber attacks and further enhance the security features of BAAS.

For now, Alibaba is entering an extremely competitive and growing market, where international players such as Microsoft and Amazon have already established a certain market share in the blockchain-as-a-service industry.

As cited by ETH News, a Bank of America analyst has estimated that the BAAS could quickly reach a value of more than $7 billion, given the rising interest and cost-saving benefits of the technology.


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