China’s largest tech company, Huawei, has launched their new Blockchain Service developed for global commercial use. The company has announced that the service is intended to help “World enterprises and developers create, deploy and manage blockchain applications quickly and at minimal cost on Huawei Cloud.”

Similar to Amazon’s business structure, Huawei Cloud is a cloud service offered by the larger Huawei Global. The company believes that rolling out this product will set the stage for a widely distributed and universally used blockchain PaaS (platform-as-a-service).

According to Blockchain Service (BCS) official press release, the new innovation can assist in a myriad of scenarios across various industries:

“It is easy to use, efficient, and universally applicable, and can be used in data applications, the Internet of Things (IoT), finance, and other fields. The scenarios it can be used in cover data transactions, identity authentication, proof of information (such as real estate and education), remote healthcare, food source tracing, the Internet of Vehicles (IoV), and IoT device management.”

The BCS has already been available for domestic use but now it will be available to commercial enterprise around the world, ready to purchase on Huawei Cloud’s website. The platform boasts being easy to use, lightning fast, and cheap. This is what the global capitalist market has been waiting to see from blockchain technology, ready-to-use, and easy-to-integrate, web 3.0 solutions.

Huawei is the first in its class to place the distributed ledger technology atop their existing cloud service. Teaming up with Hyperledger back in 2016, Huawei was one of the first Hyperledger maintainers making significant code contributes to both well-known projects STL and Fabric and is still the only Asia-based Hyperledger maintainer to date. Now BCS is amalgamating cloud tech, cutting-edge security, and distributed ledger to make a one-stop commercial blockchain solution with a multitude of use cases.

The flexible product launch will set a global precedent for blockchain and cloud services. With multiple consensus algorithms and low-cost integration, Huawei’s BCS could stand toe to toe with IBM’s blockchain solutions and Amazon’s recent releases. While all aim to be the go-to blockchain service provider, it is likely the landscape will continue to diversify over time with several large major providers at the forefront. Huawei could very well have secured its spot as the leader of that pack with this latest roll out.