Baidu, China’s largest Internet company, released a preliminary version of its new blockchain service on Thursday. “Xuperchain” is advertised to help small to medium-sized businesses launch decentralized apps or “dapps.” Blockchain is a decentralized public ledger that allows individuals around the world to securely share data with one another. Champions of Blockchain technology and its various applications (like Bitcoin) believe in a decentralized monetary system with minimal government interference.
China’s internet censorship agency last year announced that any service involving blockchain must collect its user’s names, national ID and telephone number. Such stringent regulations, however, stands somewhat at odds with the crypto community’s general ethos on personal privacy.
Read More: Baidu’s “Xuperchain” launch is just the beginning of China’s blockchain rush
