The blockchain layout of Zhongan Technology began on November 2, 2016, the day the company was established.
Zhongan Technology is Zhongan Insurance (stock code:06060.HK)'s wholly-owned subsidiary. The original intention of ZhongAn Technology was to improve the technological level of the insurance industry.
After more than 2 years of blockchain exploration, ZhongAn Technology appeared in the first batch of blockchain information service lists released by the Netcom Office on March 30, and registered 4 blockchain services: BaaS platform, active line , brand traceability, titanium platform.
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Record 4 blockchain service projects
"Zhongan Technology mainly has two departments working on blockchain: Fudan-Zhongan Technology Blockchain and Information Security Joint Laboratory and Anlian Cloud." Li Kan introduced that the former is biased towards theory, while the latter focuses on practice.
According to the official website, Anlian Cloud is an ecological cloud service platform based on artificial intelligence, blockchain and cryptography. It was established in May 2017. It mainly serves industries such as supply chain finance and medical care, and provides BaaS based on blockchain technology. services and other cloud services.
Recently, the four blockchain services (BaaS platform, product line, brand traceability, and titanium platform) filed by Zhongan Technology in the Cyberspace Administration of China are all under the umbrella of Anlian Cloud:
The BaaS platform refers to "Blockchain as a Service". According to Li Kan, this is a product launched to lower the threshold for enterprises to use blockchain. It can be designed in modules and visualized. There are currently more than 300 registered enterprise users. bit.
Jixian is a point issuance system, which is used for point marketing and point system construction. It records transaction data in the form of blockchain, which is transparent and cannot be tampered with.
The brand traceability platform is a product information traceability platform based on the alliance chain. "Brand traceability provides blockchain-based traceability and certificate storage functions, enabling product information to be uploaded to the chain and anti-counterfeiting queries." Li Kan said.
The titanium platform mainly provides services such as titanium contracts and titanium certificates. Titanium contracts provide users with electronic signing services and use blockchain technology to store contract documents. Titanium certificates refer to a series of cloud services such as blockchain certificate storage, verification, and issuance Serve.
Taking brand traceability as an example, Zhongan Technology has two application cases: Bubuji and diamond anti-counterfeiting traceability. For the former, see"From birth to death, Zhongan "Step by Step Chicken" arranges the chicken's life clearly and clearly"In one article, the latter cooperated with Zhongan Technology and Dingzuan Technology to design a blockchain "electronic ID card" for each diamond - a diamond traceability certificate, which records the circulation process of diamonds from mining to trading.
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Apply for 131 blockchain patents
expressexpress: "The impact of tokens on the asset side will be as huge as the impact of WeChat Alipay on the capital side."
Blockchain occupies an important position within ZhongAn Technology.
Up to now, ZhongAn Technology has applied for a total of 230 patents, including 131 blockchain-related patents.
In addition, as of December 31, 2018, ZhongAn had a total of 1,618 engineers and technicians, accounting for 52.4% of the company's total employees, including 100 related to data analysis, 76 related to artificial intelligence, and 122 related to blockchain.
Li Kan believes that the application of the blockchain mainly includes two levels: the first is the deposit of information, and the second is the blockchain certification of physical, virtual and financial assets.
"Blockchain is the foundation of the Internet of Value. After the physical, virtual and financial assets are certified by the blockchain, low-cost, frictionless transaction circulation can be carried out on the chain, and more efficient and value-exchangeable tokens can be derived. Economic form.” Li Kan said that information deposit certificates can promote high-net-worth physical assets, high-flow virtual assets, and high-flow financial assets.
Accounts receivable is a term in supply chain finance. Accounts receivable is an important credit certificate for many enterprises. Due to the large number of participants and the incompatibility of data, the phenomenon of "data islands" has been caused. The difficult and expensive financing of small and medium-sized enterprises is a big pain point in the supply chain finance industry.
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Popular choice in the insurance industry
Li Kan said that after all, Zhongan Technology is owned by an insurance company, so it has been exploring the use of blockchain to reduce costs and increase efficiency in the insurance industry.
The core competencies of insurance companies are underwriting, loss assessment, product pricing, risk management, etc.
Insurance involves multiple links such as consumers, intermediaries, insurers, and reinsurers. In each link, there may be problems such as information loss, misinterpretation of policy content, and prolonged policy processing time. How to solve the above problems is a task for every insurance technology company. The problem ahead.
to reportto report, Many insurance companies and institutions are trying to reduce underwriting costs and improve efficiency by adopting blockchain technology. For example, insurance brokerage company Marsh cooperated with IBM, insurance non-profit organization ACORD Corporation, and ISN Software to jointly develop a blockchain-based insurance verification platform. In September 2017, the Shanghai Insurance Exchange released the blockchain underlying technology platform "Insurance Chain".
Li Kan revealed: "The security and anonymity of the blockchain can effectively solve the information asymmetry between the two parties (in the insurance chain), and greatly promote the level of informatization."
On October 18 last year, ZhongAn Technology and the China Institute of Electronic Technology Standardization of the Ministry of Industry and Information Technology issued the "White Paper on Insurance Token Based on Blockchain Asset Protocol", and launched the Policy Backed Token (Policy Backed Token, referred to as PBT), Zhongan Insurance's comprehensive air travel insurance "Feixiang e-Life" is connected to PBT, becoming the first insurance asset certification product.
In addition to its own insurance business, on March 27, the Hong Kong Monetary Authority issued the first batch of three virtual banking licenses, and ZhongAn Online Virtual Finance, a wholly-owned subsidiary of ZhongAn International, obtained one of them. ZhongAn International is held 51% by ZhongAn Technology and 49% by Beststar.
Li Kan introduced that obtaining a virtual bank license will greatly help Zhongan Technology to promote the blockchain. In the future, Zhongan Technology may explore the use of blockchain to protect virtual bank data privacy, etc., first landing in the Guangdong-Hong Kong-Macao Greater Bay Area. Then the verified business model is exported to more regions.
"ZhongAn Technology's plan in 2019 will focus on promoting more high-net-worth physical assets, high-circulation virtual assets, and high-circulation financial assets on the chain. Digital tokenization of assets such as receivables." Li Kan revealed.
