Categories: Ethereum

Baidu launches judicial arbitration blockchain

Click here to view original web page at www.ledgerinsights.com

Yesterday it was reported that China’s leading search engine Baidu has launched a blockchain solution for legal arbitration. It aims to ensure electronic evidence is trustworthy, accurate, and safe from tampering. The platform also allows for secure storage and transmission of data.

The firm claims that it is the first electronic evidence platform using 5G network slicing, which allows virtual networks to run on top of the super-fast mobile network. The platform was built with the Qingdao Arbitration Commission and was mentioned at a press conference two weeks ago. The organizations reached an agreement earlier this summer.

China is one of the world’s most active users of arbitration for dispute resolution. Online mediation, for disputes in finance or ecommerce where documents are easily digitised, is also becoming more popular. The country’s Wuhan Arbitration Commission issued new guidelines for implementing the service last month.

However, judicial arbitration in general can be hampered by poor-quality evidence, improper methods of evidence gathering, and a lack of trust. Baidu’s solution addresses these issues by utilizing the immutability of blockchain to provide a trustworthy log of evidence from the source.

The platform uses Baidu’s open-source XuperChain protocol on the Baidu Blockchain Engine (BBE). The Engine supports both Ethereum and Hyperledger Fabric.

The lead of the XuperChain team said that this is just the beginning of Baidu’s legal projects: “In the future, Baidu […] will provide diversified services for more public security law scenes such as notarization and judicial appraisal, and promote new technologies such as blockchain, big data and artificial intelligence to become the core technology supporting the judicial system.“

Baidu’s arbitration blockchain is the latest addition to its many projects. Last week, the firm launched a health blockchain. It also has a copyright protection system named PIC-CHAIN, which was released a few months before Baidu began to offer the BBE blockchain as a service.

In the legal sector, however, there are few projects in arbitration due to possible pitfalls. Online arbitration platforms are used in China, such as one offered by the Arbitration Court of the Minjiang New Area last week. It focuses on cross border disputes, allowing for remote resolution.

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama

Recent Posts

Watford FC to brand Bitcoin logo on the jersey

The initiative is being carried out as a part of a brand partnership with sports betting site Sportsbet.io. Sportsbet.io's marketing… Read More

5 hours ago

Latest Bitcoin price and analysis (BTC to USD)

At the time of writing, Bitcoin (BTC) is trading at just above $10,300 after gaining about 1% since last week.BTC… Read More

5 hours ago

Johnstone: How To Defeat The Empire

Authored by Caitlin Johnstone via CaitlinJohnstone.com, One of the biggest and most consistent challenges of my young career so far… Read More

5 hours ago

Today’s Bitcoin Drop Driven by Massive Volume Influx

Bitcoin has been facing a bout of sideways trading for the past several days, but today’s drop to below $10,200… Read More

5 hours ago

L.A. to Choose Blockchain Pilot Project at CIS Conference

With a growing interest in blockchain solutions for government, the city of Los Angeles has partnered with organizers of a… Read More

5 hours ago

Bitcoin’s heading to a new all-time high along with the S&P 500, says Fundstrat’s Tom Lee

watch nowTalk about a bitcoin bull case.The digital currency is headed to new record highs, says Tom Lee, co-founder, managing… Read More

5 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More