Huawei Launches AI-Based Blockchain Service Built On Huawei Cloud

Huawei Launches AI-Based Blockchain Service Built On Huawei Cloud

During the HUAWEI CONNECT 2021 event that started today, on Sept. 23 and will last until Sept. 25, Huawei and SDPB (SDP Bank) have announced the launch of their SPDB Finwarehouse blockchain solution.

This solution utilizes IoT in order to secure movable property pledges.

In 2020, Huawei giant together with the SDP Bank presented the Bank of Things White Paper. In it, they show a new model and system for financial services. After that, SPDB inked a partnership with Huawei and they together began using innovative tech to promote the Bank of Things and started to explore digitalization.

SPDB Finwarehouse is the outcome of this fruitful partnership. This blockchain-based solution targets industrial supply chains. It allows managing pledges for movable warehousing properties in a brand new manner.

Movable properties in China, the press-release adds, promises to turn into an innovation market where billions of RMB will be changing hands. Until now, this area has been operating without digitalization.

The new blockchain solution will use artificial intelligence, as well as multi-dimensional data verification and will be based on Huawei Cloud.