On May 28, the 2019 Global Blockchain Technology Development Forum (GBF), hosted by the Organizing Committee of the 2019 China International Big Data Expo, undertaken by the China Academy of Information and Communications Technology, and co-organized by Teleinfo and Odaily, was held in Guiyang.
Xu Hui, chief product architect of Ant Financial, said that finance is the pillar business of Ant Financial, but the future of Ant Financial is to move towards technology. Ant believes that five directions including blockchain, artificial intelligence, security, Internet of Things, and cloud computing are the future of technology, referred to as BASIC.
He said that the challenges of blockchain technology are gradually breaking through, and business opportunities are coming quickly. The ant blockchain is driven by scenarios and has more than 30 scenarios, distributed in trusted data, trusted objects, trusted contracts, and trusted assets. , people's credibility and so on.
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Why is Ant Financial doing blockchain?
What is Ali's mission? It is to make the world easy to do business. We found that the most difficult thing in doing business is reputation. If you can gain the trust of others, the business will be easy to do.
In fact, Alipay, the predecessor of Ant Financial, was born to solve the problem of trust. In the earliest days of e-commerce, the hardest part was that buyers and sellers did not trust each other.
In fact, ants have been focusing on solving the key issue of trust along the way.
First, resolve trust through Alipay guarantee.
Secondly, there is a credit system for enterprises and individuals to make credit evaluations, so that those small and medium-sized enterprises can more easily gain the trust of financial institutions, obtain loans, and obtain more business opportunities.
These are all based on our set of centralized, big data-based, and AI models to predict individuals and companies to achieve trusted connections. But we found that big data and AI alone are far from enough.
With the development of the Internet, a large amount of data is generated. When the problem of fraud occurs, the value of the data is greatly weakened.
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What has Ant Blockchain been doing in the past two years?
In the past two years, Ant Blockchain has created a completely independent and controllable financial-grade blockchain platform. It will solve many problems that are not visible on the surface. For example, fairness, security, and efficiency are difficult to balance among the three at the same time, and there is actually a trade-off relationship among them.
On the platform, we have explored many blockchain applications, with the goal of serving the real economy. There are three main directions. First, on-chain finance. The transfer of all assets on the chain will be on the blockchain in the future. Second, retail on the chain, which essentially represents commodity logistics, that is, the circulation of goods will also be on the chain. The third is life on the chain. We believe that all government services that serve the future will also be circulated on the chain.
Now various industries are talking about blockchain, much like all industries are talking about Internetization. Its bottom layer needs to have some product layers, so we call it BAAS, and the bottom layer is our core basic technology.
In terms of scenarios, we have divided five types of directions, first, data trustworthiness, second, object trustworthiness, third, contract trustworthiness, fourth, asset trustworthiness, and fifth, people trustworthiness.
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Where is the core source of power for ants?
In order to create value for users. Ant has served 900 million users around the world. The needs of these users come from various industries and aspects. In order to solve their pain points, solutions for various industries have been produced.
During this process, we had several particularly profound feelings.
First, we feel that blockchain technology faces many challenges, but now these challenges are being overcome, so it will usher in a business opportunity of rapid development.
The second is that we can’t finish this job by relying on the ants alone, because every industry is different, so our approach is to adopt an open ecology. Ants will build the bottom blockchain platform and integrate the upper Applications and business opportunities are open to our partners.
Our advantage is that large-scale node consensus, including some of our security management, and privacy models, including some core technical modules such as the Internet, are completed by Ant.
At the same time, a BaaS underlying technology platform has been built. All enterprises can build their own blockchain based on this platform, but in the end we need a stronger ecology to promote the development of various industries and form different solutions for different industries. , to better serve our users.
Welcome to join us to discuss how to build a credible digital society in China faster!
