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From "improving efficiency" to "promoting fairness and sustainability", WeBank blockchain has a new mission

Mengchen Mingmin was sent from Oufei Temple

Qubits | Official account QbitAI

During the epidemic period, travel must have a health code.

The inter-city and inter-provincial movement of people and materials is crucial to the economy and people's livelihood, but there are also special difficulties between Guangdong and Macao.

According to the provisions of the Macao Personal Data Protection Law, personal data in Macao cannot be sent directly out of the country through the data server, and the personal information and nucleic acid testing information of residents of the Mainland and Macao can only be verified by local authorities.

Under the premise of protecting personal privacy, the establishment of a verification channel that can verify the true validity of user-submitted information has become the key.

Now the solution of the Guangdong-Macao health code cross-border mutual recognition system is to rely on blockchain technology.

Blockchain can be likened to a publicly managed ledger, with data that is immutable, traceable, and anonymous.

With blockchain as a credibility guarantee, it is possible to ensure that data is true and trustworthy without direct transmission and exchange of data between cross-border institutions.

At that time, Guangdong's "Yue Kang Code" and Macao's "Macao Health Code" achieved mutual recognition by virtue of this system, and it took only an average of 100 seconds to generate customs clearance vouchers for the first time, and shortened the number of vouchers obtained for customs clearance again to 3 seconds. By the end of 2021, the number of customs clearance personnel holding health code customs clearance certificates has exceeded 100 million.

Recently, there have been new progress in cross-border credible verification of data in this region, and the first cross-border data verification platform in the Guangdong-Hong Kong-Macao Greater Bay Area, the Guangdong-Macao Cross-border Data Verification Platform, has been put into trial operation.

At present, the first application of the platform - ICBC "Qin'ao Information And communication" - the first business has been successfully handled in the Hengqin branch of ICBC, and it is expected that a number of application services will be launched based on the platform within this year.

From "improving efficiency" to "promoting fairness and sustainability", WeBank blockchain has a new mission

The Guangdong-Macao Health Code Cross-border Mutual Recognition System and the Guangdong-Macao Cross-border Data Verification Platform are both based on the DEVELOPMENT OF THE FISCO BCOS blockchain open source platform led by WeBank.

Blockchain applications such as cross-border data verification not only improve the efficiency of multi-party collaboration, but also a model practice for practicing the ESG concept and serving the people's livelihood of society.

At the recent "WeBank Blockchain" brand launch, WeBank put forward the new mission of "building an ESG trusted infrastructure to promote fairness and sustainability".

ESG is a concept and practice that integrates environmental, social and governance multidimensional factors in addition to financial information, and measures the sustainable development ability and long-term value of enterprises.

Since 19 years, blockchain has risen to a national strategy, which has been written into the 14th Five-Year Plan and the outline of the 2035 vision and goals, and has become part of the "new infrastructure".

Blockchain technology can play a key role in liberating data factor productivity, supporting ESG, and promoting the sustainable development of social equity.

How does blockchain deliver trust?

The original intention of the blockchain is to solve the trust problem between people, and Bitcoin and NFT are only a small part of its application method. There is also a group of developers who use blockchain to do real things, and have gone deep into social and economic development to come to you and me.

In fact, every link involving the transmission of trust is the space for blockchain to play.

For example, trust needs to be built between individual consumers and merchants. The product is really not real, easy to use, the price is unreasonable, and it is easy to dispute.

A blockchain technology company, Tianyan Weizhen, has adopted the weEV blockchain open source technology to trace the origin of hairy crabs in West Lake Longjing and Yangcheng Lake. Using the traceable, tamper-proof nature of blockchain, each agricultural product is given a unique identity information.

After consumers buy agricultural products, they can scan the code to understand the source of the product, producers, breeding information and other types of detection and circulation information, and combine the Internet of Things technology in the data collection stage, compared with the traditional manual filling method, can ensure the authenticity of the data from the source.

In this way, blockchain has conveyed trust between enterprises and consumers, helping to modernize agriculture and revitalize rural areas.

From "improving efficiency" to "promoting fairness and sustainability", WeBank blockchain has a new mission

After talking about individuals and merchants, you can also talk about the trust between merchants and merchants.

In an industrial chain, it often involves the delivery cycle of goods and payments between upstream and downstream. For small and micro enterprises, accounts receivable, inventory, etc. will occupy cash flow, affecting capital turnover.

The model of financing accounts receivable, inventory, and advances is known as "supply chain finance." Traditional supply chain finance requires cumbersome manual review in the business, with high labor costs and high fraud risks.

Sifang Jingchuang designed a supply chain finance platform based on FISCO BCOS. Make good use of the non-tamperable, non-negatable and traceable characteristics of the blockchain to let the bank put the loan out with confidence.

This is the blockchain from the transmission of trust, accelerate the digitalization of the industry, support the development of small and micro enterprises.

Blockchain, combined with privacy computing, can also be used in the medical field.

The resident health file circulation platform of Yilianzhong allows the public to avoid repeatedly entering the health file during the referral process, and has a security and privacy guarantee while reducing the cost of medical treatment and adding convenience to life.

This product is also based on the UNDERLYING open source platform of the FISCO BCOS blockchain.

……

There are many blockchain companies and developers like this.

Up to now, WeBank blockchain has brought together more than 3,000 enterprises and institutions and more than 70,000 individual developers to participate in the blockchain industry ecology. More than 200 benchmark applications have emerged in the open source community, covering a wide range of fields such as finance, government affairs and people's livelihood, medical care, industry and agriculture, and education.

How does WeBank Blockchain undertake the new mission of "building an ESG trusted infrastructure"?

Facing the future, WeWeweh Blockchain announced that it will build a trust infrastructure for ESG, and is committed to accelerating the digitalization of the industry and helping sustainable development.

So why them?

Referring to the exploration of WeBank in the past seven years, connecting the dots into a line can be attributed to 3 aspects of efforts.

Clear development concept with core technology in hand to establish industry ecology

First of all, in terms of development concept, it is necessary to make correct judgments according to market demand and industrial environment.

Is technology embracing open source? Real Economy or Virtual Economy?

These choices determine where blockchain technology will flow.

WeBank's choices are clear at a glance:

Technology should be open source and insist on serving the real economy.

On the basis of the steering wheel that has been put in place, the next thing to solve is the power problem.

One of the driving forces, of course, is technology.

In this regard, FISCO BCOS, the underlying platform of the financial-grade blockchain led by WeBank, adopts a microservice architecture design to achieve modular hierarchical governance and parallel expansion, which can support large-scale scene applications.

With this as the underlying layer, according to the needs generated in the actual application process, such as privacy protection, distributed message collaboration, etc., WeBank has further developed a series of open source technology components and solutions, and has formed a set of full-stack open source technology architecture.

From "improving efficiency" to "promoting fairness and sustainability", WeBank blockchain has a new mission

Since 2019, blockchain technology has been included in one of the major development strategies at the national level. Therefore, technological autonomy and controllability and localization have gradually become inevitable for development.

FISCO BCOS has achieved all-round, full-link localization support.

At the same time, combined with the thinking of its own development concept, the FISCO BCOS platform has been officially open sourced in 2017.

WeBank also actively participates in the formulation of blockchain standards by ISO, IEEE and other international standardization organizations, enhancing the mainland's international discourse power and standard rule-making power in the international blockchain field.

The second motivation depends on people, that is, ecological construction.

The open source ecosystem jointly built by WeBank Blockchain has brought together more than 3,000 enterprises and institutions, as well as more than 70,000 developers. But that's not enough. How to gradually radiate technology to all corners of society and how to go longer is a big proposition that needs to be considered at present.

Here, WeBank took the lead in releasing a new brand of "WeBank Blockchain" to explore the direction of ESG (environment, society and corporate governance).

In the past, financial technology represented by blockchain has assumed the role of pioneer explorer, and has been continuously extended to key industries such as government affairs and people's livelihood to improve the efficiency of multi-party collaboration.

On top of this, how to promote social fairness and sustainable development and provide support for national strategic goals such as double carbon and rural revitalization is the new mission of WeBank Blockchain.

In addition, WeBank has also integrated the ESG concept into the talent cultivation system, hoping to cultivate more compound talents who understand both blockchain and ESG concepts.

These talents are then invested in the construction of the blockchain ecosystem.

What role will blockchain play in the future in promoting how social equity can continue to develop?

We'll see.

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