QuChain Technology settles in Huawei Cloud and will jointly build integrated blockchain services

On September 6, during HUAWEI CONNECT 2017, Huawei and QuChain Technology signed a cooperation agreement. The two parties will deepen cooperation in the blockchain technology platform and industry application levels. With the help of Huawei's R&D accumulation, service capabilities and enterprise practical experience in public cloud basic platforms, QuChain Technology will be able to build end-to-end integrated blockchain services.

In recent years, blockchain technology has not only been valued by financial institutions, but has also gradually attracted the attention of major economies and important international organizations in the world. Blockchain is a new type of decentralized protocol that can safely store transactions or other data, has the characteristics of information that cannot be forged or tampered with, and can automatically execute smart contracts without the review of any centralized organization. At present, Hyperchain, a domestically-developed, self-controlled alliance chain platform built by QuChain Technology, is a verified and available enterprise-level financial blockchain platform in China, and has been launched in the core business systems of many large financial institutions in China. The platform is committed to providing enterprise-level blockchain solutions for the blockchain technology needs of enterprises, government agencies and industry alliances.

QuChain Technology and Huawei started cooperation negotiations in the blockchain field in March 2017, completed the testing of Hyperchain blockchain products at the end of July, and completed the deployment and launch of Hyperchain on Huawei Cloud at the end of August. Based on the "trusted, open, and global service" Huawei Cloud, and in conjunction with QuChain Technology's Hyperchain blockchain platform, the two parties jointly created an end-to-end integrated blockchain service. In the future, based on this platform, they will jointly provide customers with digital bills, supply chain finance, digital evidence and other industry solutions, and provide innovative service support for more corporate customers.

Mr. He Fei, Director of Ecosystem and Cooperation Development Department of Huawei Cloud BU, said: "QuChain Technology is a technology leader in domestic blockchain products. Huawei hopes to work with QuChain to create an end-to-end integrated blockchain service. Focusing on the specific application scenarios of blockchain technology in the industry, Huawei Cloud will use its many years of experience and practical accumulation in serving enterprises to jointly build an open, collaborative and win-win open platform ecosystem. I believe that through the joint efforts of Huawei and QuChain, blockchain technology will surely help customers achieve continuous business innovation in areas such as supply chain finance and digital bills."

Li Wei, CEO of QuChain Technology, said: QuChain Technology is a relatively young company, but it has made great progress in the field of blockchain. The blockchain systems of many domestic banks, securities companies, exchanges and other financial institutions have adopted QuChain's underlying blockchain technology. Compared with other manufacturers, the most core feature of QuChain's underlying blockchain technology Hyperchain is that it is domestically produced and controllable. As a provider of financial infrastructure, it is crucial to the country's financial security to have a deep understanding of the underlying technology. Therefore, we are very optimistic about and value the cooperation between QuChain and Huawei. With QuChain's industry-leading underlying technology and Huawei's powerful cloud platform capabilities, we believe that we will launch more and more BaaS solutions together to serve more and more actual financial application scenarios, and realize the domestically produced and controllable integration of software, hardware, cloud platform and blockchain!

HUAWEI CONNECT 2017, Huawei's annual global flagship conference for the ICT industry, was held at the Shanghai New International Expo Center from September 5 to 7, 2017. The theme of this conference is "Grow with the Cloud", aiming to build a global sharing platform for open cooperation and discuss with customers and partners how to achieve new growth through digitalization.