Alibaba Cloud to Offer Blockchain-as-a-Service (BaaS) For Global Markets

Alibaba Cloud Will Offer Services For Global Markets

Alibaba Cloud, the popular cloud computing service offered by Alibaba, the Chinese e-commerce giant, has now decided to enhance its blockchain-as-a-service (BaaS) offering outside of the country.

The information was announced via a press release which was divulged by the company today, October 24. Alibaba Cloud will expand to new markets like Europe, the United States and Southeast Asia soon.

Alibaba’s Cloud BaaS is based on two different technologies: Hyperledger Fabric and Ant Blockchain. These technologies, used together, can provide a secure and solid ecosystem that will make the basis for a sustainable product to be released by the company. The cloud solution can be used for many different types of applications like blockchain management, smart contracts, automatic deployment of services, etc.

The senior staff engineer of the Alibaba Cloud Blockchain Service, Yi Li, has affirmed that this new expansion will be an important development for the services of the company and that the global markets will allow it to expand a lot in terms of market and quality. This, the company believes, will lead to the acceleration of the digital transformation in the world with the help from the company.

After the expansion, the company will be operating in 52 zones across 19 regions of the world. These zones will include, for instance, the United Kingdom, in which the service was just recently added.

The company has not commented on this specific matter but it looks like this is just the beginning of a strong global integration and that the company will definitely continue with its effort over time to expand its markets to more regions of the world in which it can be profitable.

Another global company, this one based in the United States, the Oracle Corporation, has recently also released a blockchain Software-as-a-Service (SaaS) app based on the Oracle Blockchain Cloud Service. The company offers a similar product to Alibaba Cloud and it looks like it may become one of the strongest competitors of the company in the global markets that it is entering at this moment.

About Alibaba Cloud

Alibaba Cloud was founded in 2009 to work as the cloud sector in the company. It is now the third largest cloud services supplier in the world and the biggest one in China.

Its parent company, Alibaba, was founded in the 1990s and it is focused on the sale of retail products to all around the world. The company currently has one of the largest marketplaces in the world right now.