Alibaba has a dazzling record in blockchain patents. As the main contributor, Ant Financial has brought blockchain technology into multiple fields such as cross-border transfers, electronic bills, traceability, and insurance. In terms of the combination of blockchain technology and the real economy, Ant Blockchain has more exploration and practical experience.
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Yan Ying
The following is a summary of the speech:
Let's talk about trust first. Ant Financial has been committed to using technology to create a better credit mechanism. Simple because of trust. For example, Alipay, which was launched in 2004, has increased the payment success rate from 75% to over 95% through real-time risk control technology. Another example is the micro-loan service. Through artificial intelligence technology, we have realized 3-minute application, 1-second lending, 0 manual participation, and so on. Behind every product service is inseparable from the advancement of technology. Today we have entered the digital age, and digital finance requires digital services. How to connect users, merchants and all service providers safely, credibly and efficiently, and provide inclusive and sustainable digital financial services is the direction of our efforts. We see blockchain technology, which gives us such a possibility, it is the infrastructure for connecting trust.
Ant Blockchain has done a lot of practice in empowering entities. What are our criteria for choosing blockchain scenarios? Certainly not blockchain for blockchain's sake. In fact, the answer is one. Whether to implement a scene depends on whether it creates user value. Only when user value is found, can the value of the blockchain be deeper and more sustainable.
Scenarios are roughly divided into three categories, on-chain finance, on-chain retail, and on-chain life. For example, our cross-border remittances, medical bills, electronic prescriptions, traceability of 150 million commodities during the Double 11 period, judicial deposit certificates, etc. Life on the chain is not far away, it has already arrived.
Supporting so many scenarios requires an efficient, stable, secure, and privacy-protected blockchain underlying platform. Here, we must talk about the ant blockchain platform. Ant Blockchain is a self-developed, financial-level alliance blockchain platform. Modular design, providing different core algorithms according to the environment configuration and business requirements of different scenarios. A general-purpose platform is difficult to optimize in all scenarios. The modular design provides a lot of space for scene-driven algorithm optimization. Overall, the technical challenges of the blockchain include performance, general and efficient privacy schemes, contract security, cross-chain complexity and performance, verifiable access to data from off-chain to on-chain, and how to manage on-chain alliances. Ant has made core technological breakthroughs in the above-mentioned challenges combined with actual scenarios. As an example, what is the reason why blockchain has so many technical challenges? Because it is designed to solve trust itself, there is no trust assumption in its architecture. Therefore, everyone sees that in the blockchain system, usually I have to save a copy of your data, and I have to calculate and verify the transactions you have calculated again. Performance and privacy are difficult to guarantee. If in some scenarios, we can have credible assumptions about the hardware of the nodes, then there is a lot of room for improvement in the complexity and performance of the architecture.
The expansion of blockchain scenarios is inseparable from ecology. What is a good ecology? A scenario-driven blockchain ecology is a good ecology, which includes solving physical pain points, creating value-added value and a sustainable model. In order to create a better ecology, we have launched a partner program, which covers professional training, business empowerment and publicity and marketing. At the same time, we have also launched a university cooperation plan, and are willing to work with experts and scholars to make continuous breakthroughs in the core technology of the blockchain. Finally, we are aware of the business and technical challenges ahead, and look forward to cooperating with all of you to link to the future!
