Baidu has established a new subsidiary to focus on blockchain technologies and supplied $7.3m to the business through another subsidiary, Dinglu Zhongyuan Technology.
Dulian Internet Technology, a newly launched blockchain subsidiary of China-based internet company Baidu, has collected RMB50m ($7.3m) in funding from fellow Baidu subsidiary Dinglu Zhongyuan Technology, China Money Network reported on Friday.
Dulian will focus on the research and development of blockchain technologies in a wide range of areas – games, sports organisation and management, social media, ticketing, the internet of things and apartment rental.
Xiang Hailong, currently vice-president of Baidu, will become president of Dulian.
The creation of Dulian…
