The new trend of blockchain scenario application highlights the open source empowerment of the FISCO BCOS platform

Our reporter Qin Yufang reports from Shenzhen

Since the beginning of this year, the strategic layout of the next-generation Internet (Web) based on blockchain has developed rapidly, driving the application of blockchain in various fields to usher in new development opportunities.

In the "2023 FISCO BCOS Industrial Application Development Report" (hereinafter referred to as the "Report") recently released by WeBank and Shenzhen Financial Blockchain Development Promotion Association, it is pointed out that blockchain has become an indispensable infrastructure in the digital economy, and the application innovation in various fields such as government affairs, cross-border, carbon peaking and carbon neutrality, medical care, and education is increasing.

The construction of ESG application has achieved phased results

According to the report, the current blockchain industry is showing five new changes: blockchain has become an indispensable infrastructure in the digital economy, blockchain technology has highlighted the value of promoting the circulation of data elements, the inflection point of blockchain business value has appeared, the blockchain has extended to diversified scenarios in the cross-border field, and the application and construction of blockchain in the field of ESG have achieved phased results.

At the "2023 Industrial Blockchain Ecological Day and FISCO BCOS Open Source 6th Anniversary Ecological Conference", the person in charge of relevant technology of WeBank said that promoting the orderly flow of data elements is the highlight area of this year's new cases, which cover data collection, data storage, data processing, data transmission, data exchange, data destruction and other data life cycle links. "Blockchain technology promotes the circulation of data elements, and the value is becoming more and more prominent. ”

The above-mentioned person in charge emphasized that after years of accumulation and precipitation, the open source model of FISCO BCOS has driven a large number of application innovations to solve business pain points, and many applications have begun to take shape, promoting the innovation and development of business. "For example, in the field of ESG, blockchain has solved the transparency and authenticity of corporate ESG data, and effectively solved the problem of the credibility of ESG information disclosure from the source. ”

Li Xiang, CTO of Techdow Financial Technology Co., Ltd., said that the digital credit information service product built on the basis of blockchain can effectively solve the financing problems of small, medium and micro enterprises in the field of carbon finance through the collection and collation of corporate carbon data to form ESG reports.

"For the majority of micro, small and medium-sized enterprises, it is very difficult to obtain financing credit from commercial banks through ESG reports, and in addition to the cost burden, the greater challenge is how to obtain reliable carbon data. Based on blockchain technology, we build a 'business cerebellum' for small, medium and micro enterprises, collect and sort out the data generated in the production and operation process of enterprises, access the credit platform established by the government, and generate real and credible carbon credit reports after compliance authorization, helping small and medium-sized enterprises to obtain credit support for carbon finance from banks and other financial institutions. Li Xiang said.

The report discloses a number of scenario application innovation cases, including the Hong Kong Society for Environmental and Social Governance (ESGC) and the dual-carbon digital management and control platform. In the next stage, the blockchain industry will show three major trends: in terms of technology ecology, the underlying platform ecology will further gather to the head open source platform, in terms of application depth, blockchain is expected to make a big difference in the field of trust economy, and in terms of application breadth, cross-border collaboration scenarios may become a new blue ocean.

Extension of diversified scenarios for cross-border collaboration

While the application innovation of various fields such as government affairs and carbon peaking and carbon neutrality is accelerating, the application exploration of blockchain in cross-border fields has also extended to diversified scenarios since the beginning of this year.

Based on the development pattern of deepening the integration and integration of the Greater Bay Area, the interconnection of cross-border data is a necessary prerequisite for promoting high-level cross-border cooperation. However, in the context of "one country, two systems, three jurisdictions", there are significant differences in supervision between the three places, the threshold for direct cross-border transfer of personal data between institutions is high, and there is a lack of credible digital infrastructure to support collaborative innovation in the past.

The above-mentioned person in charge of WeBank's relevant technology pointed out that there are still many problems and challenges in opening up the flow of cross-border data elements, and the application scenarios of blockchain in the cross-border field have gradually diversified, solving the pain points of multiple scenarios in cross-border trade, finance, and people's livelihood. The integrated offshore trade service platform and the Shenzhen-Hong Kong-Guangdong-Macao cross-border data verification platform are important explorations of blockchain in cross-border integration and digital infrastructure.

The Shenzhen-Hong Kong cross-border data verification platform and the Guangdong-Macao cross-border data verification platform are both developed based on the DDTP (Distributed Data Transmission Protocol) concept proposed by WeBank and the domestic open-source blockchain underlying platform FISCO BCOS led by WeBank. It uses the technical advantages of blockchain that cannot be tampered with and can be traced, and realizes the trusted verification mode of user-carried data with hash value cross-border verification, breaking the compliance bottleneck of two-way cross-border transmission of sensitive data such as personal information under the traditional model.

According to WeBank, the principle of DDTP (Distributed Data Transfer Protocol) is based on the right to portability of personal information, users take the initiative to initiate personal information data transmission and upload it by themselves, and at the same time, with the help of the immutability of the blockchain, data verification and user authorization records are uploaded to the chain, and the whole process can be traced and audited, and finally realize cross-institutional, cross-industry, cross-scenario and even cross-border trusted data transmission and collaboration.

"Throughout the transmission, the user downloads personal data from the data provider and stores it in a location specified by the individual. In order to ensure the authenticity of the data, with the authorization of the user, an authoritative and neutral third-party organization can be further introduced to witness the storage process of the personal data file, and obtain the hash value of the relevant file (instead of the source file) and store it on the blockchain as a 'data fingerprint'. After that, the user transmits the downloaded personal information data to the recipient of the data, and authorizes the scope of use and the purpose of use. After receiving the personal information data file, the data recipient can conduct a 'data fingerprint' verification based on the hash value through the blockchain, so as to complete the verification process. The above-mentioned person in charge of the relevant technology of the micro-banking industry said.

The above-mentioned person in charge emphasized that under this model, a closed-loop blockchain network is built between data providers, data recipients, users and third-party authorities, and the platform itself does not do cross-border transmission and storage of data source files, but only provides trusted verification services for business scenario institutions based on hash value, which can not only solve the cross-border problems of personal financial business, but also carry out data verification in many cross-border scenarios such as wealth management, asset transfer, commercial services, professional certification, marriage certificates, etc. in the future, effectively solving the problem of cross-agency and cross-agency Cross-industry and cross-scenario data collaboration issues to further improve the quality of integrated development in the Greater Bay Area.

(Editor: Zhu Ziyun Proofreader: Yan Jingning)