Chinese multinational tech company Huawei has recently announced its new blockchain service in its Huawei Connect 2021 event. The company said that it has partnered with the SDP Bank to roll out its Internet of Things (IoT) to create movable property ledges.
Last year, Huawei and SDP bank partnered to introduce the Bank of Things (BoT) which is an advanced model and system for financial services.
Since then, the two companies have been close partners in exploring and venturing into different technologies that can further improve the concept of the Bank of Things.
SPDB Finwarehouse
Their shared passion for innovative solutions and technologies have resulted in a new service called “SPDB Finwarehouse”, a blockchain-based solution that is specifically made for supply chains.
This new service can provide management of pledges for movable warehousing properties in a new and more convenient way.
Until now, China’s movable properties market isn’t digitized yet which clogs its growth and prevents it from reaching its big potential to be one of the country’s most innovative markets.
But SPDB Finwarehouse, which is a result of the Huawei and SPD Bank partnership, is set to change this industry by introducing a solution that combines the power of blockchain tech and artificial intelligence.
Huawei and SPD Bank
Huawei develops and sells telecommunications equipment and consumer electronics.
One of the astounding feats it has achieved is overtaking Apple last 2018 as the world’s second-largest smartphone manufacturer.
In July 2020 Huawei surpassed both Apple and Samsung as the top smartphone brand in the world.
SPD Bank or the Shanghai Pudong Development Bank, is a joint-stock commercial bank with headquarters located in Shanghai, China.
The bank’s main purpose is to provide financial services for the development of Pudong (a district in Shanghai) and help turn Shanghai into one of China’s international financial hubs.
Image courtesy of Cointelegraph News/YouTube
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