On May 19, 2017， a stratiegic cooperative agreement between Beijing Xinrun Jiayuan Tech and Zhejiang Shuqin Tech has been signed at Beijing. By this cooperation, with the help of billeteral thecnical advantage sharing, both parties will push forward the process of blockchain and bigdada applications on government and financial industries together.
With the rapid development of technology in Internet era, the hidden features in life can be shown through data, the system should deal with the vast amount of cloud data, and who is the producer, it is person. Meanwhile, the biggest problems are the data transfer capacity and efficiency, and the issue for data security also has been exposed which is accompanied by the advanced developed technology. If we can make use of the produced data, then for data analysis, it is undoutebtedly to promote the development of the digital informatization world. Therefore, how to do well in the data collection job, and apply it into the appropriate scenarios, and thus to solve the issues of information secutity in the Internet age, which has become a hot research topic today.
Blockchain technology is burning up followed by Bitcoin, from such application scenes, both in the financial field or non-financial field, have the preliminary application results. Even the technology is not matured, and its stability and applicability of the underlying technology has yet to be developed, whatever, the special encryption methods can realize the node-to node transferring of value without any intermediary with free circulation, which has become the biggest highlight of blockchain technology, but also become the important means to solve the trustworthy issue in the digital era. So the combination of big data and Blockchain is the key point to promote the cooperation between Shuqin Tech and Xingrun Jiayuan Tech.
Xinrun Jiayuan is a company that service-oriented with technology, providing the solutions for users such as system integration, data processing, data analysis, etc. And it has owned IBM awards for many times. It also has a long-term relationship with IBM, and provides the project equipments for government which has through the international quality management system certification(ISO9000：08907Q0134R0S).
For a long time, Xinrun Jiayuan has sophisticated experience on indusrial application, system itergration, software developing and project consultancy. Hence, it has formed a systematic technical service management which involves industries such as finance, insurance, central governments, educational governance bodies, intellectuall property bureau etc. With fully understanding of those industries, Xinrun Jiayuan has been approved by clients from those industries with great reputation.
Shuqin Tech is a Blockchain startup with many years of research experience on blockchain underlying technology. As the first product, Baoquan.com started for e-data attestation, using the characteristics of immutability and traceability to ensure data security, meanwhile, combined with judicial expertise centre to make the issued certificate has force of law, further to enhance the security capability. For the data analysis research, it has set up a professional team for data modeling, and cooperates with other enterprises to promote the big data application with Blockchain.
For this cooperation, both parties will promote the blockchain technology and big data access technology in the governmental boyies and insurance industry, using their own respective advantages to realize the integration of market resources, at the same time, using the advanced technology for data modeling to improve the utilization of data. The service platform that based on Blockchain, not only the data security can be ensured, the efficiency of data circulation also can be improved. For the access of big data, it can provide a strong guarantee for the construction of digital integrity world.
Nowadays, IT system and Internet have made great changes in all aspects of social industry and people’s lives. Even it can break through the limitation of time and space, the dangers and vulnerability in the digital world also will be enlarged. In the intangible and changeful world, people can falsify or delete data under the anonymous case, even spreading a computer virus, which is a problem that should be solved quickly in the digital society. Therefore, under the informatization background, the effective IT theory should make connection with practical system to promote the development of society, then to perfect the modern governance structure.
As the infrastructure system for the next generation of truted Internet, Blockchain will be the key to solcing the credits problems in the digital world. However, the application of blockchain technology is still in relatively early validation phase, some issues like compatibility, expansibility, privacy, security were strangling the major deployment in financial and government fields. How to transfer the trusted Internet technology to the effective means for IT governance, then to construct a autonomous system for IT governance, which has become the cooperation opportunity between GOVCHINA and Shuqin(Baoquan.com).
GOVCHINA, an independent professional research institute for IT governance in China, which is a platform for IT governance consulting and product innovation. And it provides services for government and the industries that rely on information system, to optimize the IT governance structure, promote the combination of IT business, control IT risk, then to improve IT value and innovation ability, finally to achieve business goals.
Shuqin Tech, as an early Blockchain startup in China, mainly from the perspective of data security, Baoquan.com as the first product, using the Blockchain characteristics of immutability, transparency and traceability to ensure the uniqueness of e-data, make the digital network world to be trusted. Shuqin also cooperates with judicial expertise centre, which can increase the credibility of blockchain technology. For theory research, Shuqin has published the Blockchain related books and papers. For another, as a member of Blockchain standard construction unit, work together with other units to promote the application of blockchain technology.
For this cooperation, both sides will work through to establish “Financial Data Assets Research Centre”, then to study the financial information service theory, technical specification, market service standards and so on, all these will be based on blockchain technology and big data. The two parties will also combine their own superiority to develop the financial information service market, to establish the blockchain application laboratory and big data transaction laboratory that based on financial cloud platform. For the exploration of new IT governance mode, it will make blockchian technology into the management system and information risk control system of the financial institutes, governments and other enterprises, so as to realize the goal of constructing a credit digital world.
On Monday after noon, the delegates from Australian Government, Australian Trade and Investment Commission, ADCCA(Australian Digital Currency Commerce Association) as well as Victoria State Government visited the Fintech Association of Zhejiang and discussed the development of fintech and blockchian with industrial leading local companies. Cofounder of Shuqin Tech, Xuemai Yu was also invited to present the developing fintech especially blockchain industrial in Zhejiang Province.
A internal discussion about the current condition and future plan for blockchain industry was firstly held in the meeting room of Fintech Association of Zhejiang, among Nick Giuretto, the Chief Executive of ADCCA, Ronald Tucker the Chairman of ADCCA, Jianke Chen the Chief Executrive of Fintech Association of Zhejiang, Songhua Tu, BD of Canaan Creative, Zhibei Yu from Yunphant, Linchuan Zeng from Ginkoo as well as Xuemai Yu from Shuqin tech.
Ronald Tucker as the Chairman of ADCCA as well as the founder of Bit Trade lab, which is the first bitcoin exchange platform in Australia, said the cryptocurrency and blockchain industry in China has been developed in an impressive fast way, therefore, ideas and thoughts are valuable from Chinese blockchain entrepreneur. He then asked Hangzhou entrepreneurial delegates what is the business and market vision of Chinese blockchain startups, since in Australia most of the startups are focusing on the global market from the very beginning. Xuemai Yu first answered that since blockchain is a global technology supported by international community, working in this area should have an genuine international market view, however, for the limited human resources and capital supports, the first market for local blockchain startups are mostly local Chinese clients. Xuemai also added that the Chinese market focusing strategy on the other hand is also because the fast developing country as China is already providing a large amount of opportunities to be explore. Zhibei Yu from Yunphant agreed and said the Yunphant has close partnership with National University of Singapore on blockchain research and development, In the future he believe oversea market will definitely be worthwhile to expanding.
Nick Guretto as the Chief Executive of ADCCA also explained the goal of ADCCA to promoting the blockchain industry. He thought a better developing environment requires three key aspects of multilateral consensus, one is the business collaboration which is to exploring the real user cases, markets and clients for blockchain technology; secondly is the technology standards that help global community work on the same goal, ADCCA has already play a key role in global technological standard forum for blockchain; thirdly is the alignment of regulations toward this technology, and the Australia government recognition of bitcoin from 1st of July was one big achievement made by ADCCA.
During the banquet session in the evening, the MP and Minister for Small Business, Innovation and Trade of the Victorian State, Philip Dalidakis introduced the fast growing Victorian State to all attendees. He said the Victorian State is the fastest growing state of Australia and with lowest job loss rate. The state government has listed the Fintech as one of the top industry for promoting and supporting. The Victoria state government has established an industry park and incubator to attract global blockchain innovators to start their entrepreneurship there. The capital city of the state which is Melbourne is become the third largest Fintech bay around world following New York and London. He said the key advantage for Victorian State and Melbourne on the fast growing of Fintech area is because before anyone was talking about Fintech, the government has put much more effort on the cybersecurity system, and the hacking problem on last weekend just proved how cyber security is important for modern digital world, therefore, with a robust cyber security infrastructure Fintech industry could expending with a much more healthy and fast growth rate.
Xuemai Yu representing Shuiqin tech also explained the understanding of blockchian application for Shuqin Tech. Although the distributed ledger technology or blockchain could save much of the middle man cost, he said, however, most people may ignore the cost of replacing the old centralized systems. For banking and public sectors nowadays they are even sometimes using technology inherited from the 80s, so a “disruptive technology” not necessarily or should not really server as a sudden disruptor for the users. That is the reason for Shuqin tech to start on data notary function of the blockchain, by constructed an easy-to-access API platform any conventional centralized system is able to anchor there data onto the blockchian for the immutable, trackable and verifiable features, and once the underlying work flow data is on the blockchain the intuition for them to move the work flow on the blockchain step by step become then easier. Xuemai also added, for an advanced technology to be accepted, solely spreading the concept was not enough, some real acknowledgement from those “centralized third-parties” is definitely nessasry at this early stage for proving the capability of blockchain, hence, Shuqin tech partnered with Chain forensic a local juristic forensic institutions to recognition the blockchian data attestation as a legal bind technical tool for preserve electronic evidences.
Ginkoo, Yunphant expressed their understanding and practice as well, they are respectively serving on traditional banking sectors and infrastructure level blockchain technology, and the discussion and brainstorming was very vivid. At the end the Fintech Association of Zhejiang announced that in the later this year a group of entrepreneur delegates as well as Zhejiang government will be organized together to visit and learn from the Victorian State.
As one of the most experienced Blockchain entrepreneurial team, Shuqin has received 25 million yuan (~3.6 million USD) angel round funding recently. The funding was led by Dingfeng Capital, Zhejiang Tsinghua Yangtze River Delta Research Institute of Hangzhou Branch, Jia Hui Ze Co., and Dr. Lu Chunquan. And the Blockchain enterprises in Hangzhou have been noticed at home and abroad in the early before the summit.
On the other way, as a support party for this summit, Shuqin has sent more than 1500 electronic tickets to the participants by blockchain technology. Even one person may buy more than one ticket, all these can be clearly distinguished due to the unique hash value. Moreover, the immutability characteristic of Blockchain not only put an end to the possibility of faking tickets, but also obtain the Blockchain summit ticket for a permanent memento of participant certificate. The Global Blockchain Financial Summit(Hangzhou) as the first summit to create the industry agglomeration from regional to national, therefore, it will be a memorable initiative.
During the summit, Shuqin showed the detailed block for the guests about what data will be included, and how to connect the network nodes. The CEO Gao Hang took all kinds of false and fraud information on the Internet as the opening, using simple language to introduce the uniqueness of cryptography, then to ctreating a digital trust world of the Internet. He also pointed out that Baoquan plays an indipensable role in the evolution of the trusted Internet road.
During the interview of summit, Shuqin also revealed that Blockchain has made a great breakthrough in the protection of intellectual property and the online transaction. Shuqin has reached the cooperation with Hangzhou Shibei, provide blockchain technology for the trusted electronic certificate, underlying support for the efficient ownership of intellectual property and the traceability of authorized suggestion. User can achieve the rights registration in a several seconds by Blockchain, then to issue the digital judicial expertise paper by Chain Forensic Science, providing the judicial protection for digital registration.
Therefore, Shuqin won the prize of technical innovation top 10 based on the electronic certificate product of Baoquan, which is recognized by Zhejiang University, Beihang University, Tsinghua University and other experts organizations.
In addition to the cooperation between enterprises, Shuqin also cooperates with Hangzhou Normal University to build the “Big data + Blockchain collaborative innovation lab”. During the meetup, the CEO Gao Hang of Shuqin, the executive director Xie Qi of Hangzhou Normal University and other participants witnessed the opening ceremony together, and showed the blockchain attestation certificate. For the establishment, Shuqin will provide the technical guidance, which can help university to cultivate talents and serve society, then to achieve the deeper coorperation between the two sides, further to promote the construction of ecology and the development of industry for big data and Blockchain.
As the founder member of the association for blockchain technology and application, Shuqin has engaged in the compiling work for 《Hangzhou Blockchain Industry development report》. During the summit, the co-founder Yu Xuemai explained the report from various angles. For the report, it indicates that the amount of Hangzhou Blockchain enterprises has ranked second, which starting early with strong vitality. Meanwhile, the report also pointed that there is a lack of policy to support for Blockchain enterprises compared to Shanghai and Beijing. While the summit announced the establishment of association for Blockchain technology and application, also issued the related policy for Blockchain industry, then to promote Hangzhou to worldwide.
As the largest global Blockchain community, Hyperledger also participated in GBFS. The vice president Julian Gordon of Hyperledger said that China will gradually become the main part of Blockchain commercial community, and Hyperledger also set up a China technical team for communication, further to create an open, secure and stable Blockchain platform in the business environment. Among them, the enterprise certification program of Shuqin which is based on Fabrib has been affirmed as a case.
For the summit, the talents in various fields have gathered, including finance，technology, Internet, academic institution and government sectors. The Blockchain electronic ticket from Shuqin have been showed for public, as well as Blockchain bill transaction from 33.CN, and Blockchain public welfare from ANT Financial. As a result, the underlying technology for Blockchain has got close to public, “Blockchain + New finance+ Smart life” will become a new label for China’s new Sillicon Valley in Hangzhou.
Recently, the Bloackchain financial technology company Shuqin Technology Co.,Ltd.(hereinafter referred to as Shuqin) had development communication with Factom, discussed the purpose of further cross-border cooperation. Both sides have reached a strategic cooperation intention to promote the development of Blockcchian underlying technology, and Factom also said that Shuqin is the customer who uploading the maximum amount of data on Factom chain except itself. On the meetup, for the technical level, discussed the Blockchain technology issues about stability, synchronization, identity authentication, distributed storage and so on, and synchronized the development of alliance chain with abroad. The core developer Micheal of Factom also came to Shuqin for the technical guidance, prepared for a stable platform used to access to large data resources.
Factom is an infrastructure service provider for recording, verifying and auditing based on Blockchain, and stores the world’s data on a decentralized system. Using blockchain technology for smart contracts, digital assets and database integrity. The core technology that enables company to interact smoothly with data, improve efficiency, and make better decisions. And Factom software can plug into the existing systems with proven technology that can be deployed quickly and adapt to any domain. The application of Factom has far exceeded the scope of recording and management, and is being ued in copyright, education, taxation, government services and some other fields.
As for a Zhejiang local blockchain enterprise, Shuqin is devoting to solve the practical problem by blockchain technology with the core business on the financial service. Baoquan.com as the first product in electronic data attestation, applied the distributed and decentralized characteristics of blockchian technology to provide the one-stop service for enterprises and personal. Big data exchange centre as the core project, using blockchain technology to ensure the authenticity and safety of data sources, and achieve the transparency of chain-trading, then to realize the goal of real-time traceability for the data sources and trading information.
For this further cooperation, Factom gives full technical supports to optimize the scalability of blockchain technology, enhance the security recording and management of data. Shuqin is actively promoting the landing of big data project, but the large number of data also take great challenge for blockchain technology. In future, Shuqin will keep cooperation with Factom in technical and commercial fields, to accelerate the innovation of blockchain technology, promote the upgrading of products, perfect the construction of platform, then working for the efficient and safe financial service platform, further to build and maintain a honesty digital world together.
Hyperledger Meetup was held in Zhejiang University in Hanghzou in March 13th by Hyperledger( the world’s largest Blockchain alliance). At the appointed time, Brian Behlendorf (the founder of Apache & the executive director of Hyperledger ) attended the conference, and showed the lastest technology and application achievements of Blockchain together with the Hyperledger members (Dr. Li Wei: CEO of Hyperchain, Dr. Huang Butian: CEO of Yunphant, Mr. Zhang Yifeng: President of ZhongChao Smart Card Research Institute, Mr. Wu Sijin: Founder of Fuzamei-33.cn, Mr. Yu Xuemai: Co-founder of Shuqin Tech-Baoquan.com)in Hangzhou.
Before the meetup, Wang Lei(Member of Hangzhou Blockchain preparatory group) revealed that the global Blockchain summit will be held in Hangzhou at the end of April this year, with the opening ceremony of Hangzhou Blockchain Association of application and technology.
Yu Xuemai shared Blockchain application in insurance with the stored and proved digital electronic data which can be accessed to judicial expertise. And Blockchain can store the reality and integrity in the digital world. The new project about trusty network ecology will be in the near future landing by Baoquan.com.
The executive director Brain of Hyperledger made an introduction about Hyperledger, and hyperledger is the fastest growing open source project in Linux which involving banks, finance, things of Internet and so on. Hyperledger has 30 members in China, more than 120 members in the world so far. As a member of Hyperledger, Baoquan has devoted itself in the research of Blockchain application, and give support to the development of Hyperledger in China.
This Blockchain meetup doesn’t only mean the first meetup in Hangzhou by Hyperledger, but also means a significant technical exchange between Blockchain enterprises. Of course, we can believe that Hangzhou will cause the world’s attention in the Blockchain industry in the near future.