Chinese internet giant Baidu has established its own research and development company to specialise in blockchain technology.
Baidu subsidiary Beijing Dinglu Zhongyuan Technology Co., Ltd. (北京鼎鹿中原科技公司) recently contributed 50 million yuan in registered capital to establish Dulian Wangluo Keji (Hainan) Co., Ltd. (度链网络科技（海南）有限公司) according to domestic media reports.
The company was registered on 29 August, with a business scope encompassing blockchain R&D, technology transfer and technology application services; online game R&D and operation, as well as eSports software development, consulting and sales.
Analysts say the appointment of 37-year old Baidu vice-president Xiang Hailong (向海龙) as chairman of Dulian indicates that the new company will serve to consolidate the existing blockchain operations of the search company into an independent vehicle.
Rumours had recently circulated that Baidu planned to make a major foray into the blockchain sphere, as well as integrate all blockchain related operations.
Baidu reportedly has two main groups that engage in blockchain R&D- the Baidu search team and Baidu’s fintech arm, Du Xiaoman Financial (previously Baidu Financial Services Group).
Du Xiaoman was the first to pursue blockchain research, starting towards the end of 2016, while the Baidu search company established its own blockchain team after the spring of 2018.
Du Xiaoman has already launched its Blockchain-as-a-Service (BAAS) platform and blockchain cloud solution, while the search company team has developed the “super chain” (超级链) and Duyuzhou (度宇宙) blockchain product.
The two teams have also collaborated on the Baidu “Totem” (图腾) project.