In the development of blockchain industry, overseas technology giants are competing to make layout

Microsoft recently released a preview version of its blockchain-as-a-service to users through the Azure platform, allowing developers to build a blockchain test environment on the cloud platform in a simple and efficient way; IBM expects to launch a large-scale commercial blockchain project as early as September. In the development of the blockchain industry, technology giants are vying to take the lead.

Tech giants are stepping up

Two years ago, IBM launched the HyperLedger blockchain project to study virtual currencies. Hyperledger is an open source blockchain organization led by three companies (IBM, Intel and DAH) to promote blockchain.

In the development of blockchain technology and applications, IBM, Intel and DAH are currently in a leading position. Since Microsoft launched its blockchain cloud technology platform in November last year, it has added Ripple, Factom and other companies to its Azure platform partners, launched the Bletchley project, and launched the first blockchain solution in the Azure application market, the Emercoin blockchain engine, in July this year.

According to media reports, users can choose different configuration modules on the Azure platform according to their respective test directions, test private, permissioned, public or consortium blockchains, and build a blockchain virtual machine test environment in a simple and efficient way, greatly reducing developers' control of development costs.

As one of the early leaders of blockchain technology, IBM launched the Super Account project in December last year, announced the launch of a blockchain service platform in February this year, and successively launched blockchain projects such as Shadowchain to improve the lending process, identity authentication system, and cloud security services. It also announced that it will launch a large-scale blockchain commercial project as early as September.

In addition to the two giants Microsoft and IBM, Amazon has partnered with Digital Currency Group (DCG) to create a "sandbox" on Amazon Web Services.

Numerous application areas

Analysts at Guotai Junan Securities believe that the overseas blockchain industry chain is gradually taking shape, and the basic technology, platform and application levels are all developing rapidly.

The basic technology of the blockchain industry chain is to provide the underlying protocols and algorithms that blockchain applications rely on, build unified technical standards for application developers, and lower the development threshold. For example, Hyperledger, which is committed to enterprise-level blockchain technology standards, and Ethereum, a smart contract development platform, etc.

It is reported that Hyperledger has built a unified enterprise-level blockchain technology platform and created a standard library, and has begun exploring in the fields of manufacturing, banking, insurance, and the Internet of Things. The project brings together more than 80 members from around the world, including financial institutions such as Accenture, JPMorgan Chase, and the German Stock Exchange.

At the platform level, development platforms built for various industries have emerged overseas to help developers quickly build upper-layer applications. For example, in the financial field, there are R3 CEV's Corda and Chain's the Chain Platform, and in the field of the Internet of Things, there is Ethereum Computer.

Due to the relatively low threshold, a wide variety of applications have emerged, ranging from payment transfer, e-commerce, social networking, data management, copyright protection and transactions, e-commerce, financial settlement and transactions, domain name management, etc., including the cross-currency payment settlement network Ripple, decentralized e-commerce OpenBazaar, etc.

"Blockchain technology is expected to be put into practical use in one to two years." Guotai Junan analysts pointed out that although there is still a long way to go before mature large-scale applications, it will gradually extend from edge systems to core systems in the future. On June 25, the central bank once again expressed its support for blockchain applications and other policy-level catalysts, and the development of the domestic blockchain ecosystem is expected to accelerate.