Innovating Financial Technology and Escorting the High-quality Development of Smart Finance

(reporter: LI Qiang)

Finance is an ancient market, which can trace back again as significantly as 2000 BC. Finance is also a young field, which is usually at the forefront of the occasions, frequently reinventing, upgrading by itself, renewing itself for a lengthy time. Now, this old and younger sector is ushering in modifications at the time once again. At the intersection of lots of unsure things, such as, the epidemic of COVID-19, the globe economic construction is complicated and the downward stress is escalating, and science and technological innovation have grow to be the vital to the reaction. The digital wave sweeping the entire world and the robust rise of the digital financial system have introduced advancement vitality and certainty price to hundreds of industries.

In terms of electronic transformation, the swift development of China’s monetary field has attracted the world’s awareness. These kinds of achievements are inseparable from the unremitting endeavours of leading industry experts and slicing-edge elites in the market. CAI Peng is these an fantastic “rising wave” in the era of clever finance. Given that studying monetary engineering at Huazhong University of Science and Technology, CAI Peng has continued to fork out consideration to the electronic transformation of the fiscal sector and its growth trend, centered far more on the study and growth of clever economical options, fully commited to promoting the deep integration of AI technology and the economic business in distinctive software scenarios, in get to advertise the superior-good quality enhancement of the digital transformation of the economical field.

As the desire for scenario-based, customized and intelligent economical business continues to increase, broader and further fiscal electronic transformation has develop into inescapable. In this context, CAI Peng took the lead in introducing Blockchain technologies into the subject of sensible finance, which is of good significance to the total monetary marketplace to “Reducing Fees and Bettering Efficiency”. “On the just one hand, the rely on mechanism reshaped by Blockchain will enable the fiscal industry lessen frictional functioning fees and fraud, increase provider performance, business auditability and precision. On the other hand, the multi-get together collaboration and info sharing mechanism brought by the Blockchain can recognize true-time settlement and recording of transactions, shortening the business movement time. However, the higher cost of Blockchain technology and high method necessities have often been the problems that plagued the application and promotion of the engineering.” Claimed CAI Peng.

He experimented with to complement Blockchain technologies with the technologies, such as the Online of Matters, Encryption, and Huge Information, and supported every single other with cloud storage and cloud computing. Right after repeated trials and constant changes, Business enterprise Processing Method and Blockchain Asset Assistance Administration Platform Centered on Huge Facts was last but not least innovated and created, which has typically obtained price tag reduction and performance enhancement in the fiscal sector. It has the skill to subvert diverse financial institutions and merchandise.

Business Processing Method and Blockchain Asset Support Management System Centered on Big Facts integrates a amount of cutting-edge information technologies. In the application layer, it utilizes the technology of Net of Factors to make data precisely and well timed, Encryption know-how to guarantee the protection of consumer details, and Big Data to properly support the system to mine details. At the infrastructure layer, cloud storage platforms present storage capabilities, with distributed ledgers synchronized across all nodes to type a cloud storage architecture, while ledger validation is performed dependent on cloud computing architectures. Used to particular situations, it has unique strengths in phrases of multi-get together participation, sophisticated transactions, sensor information and facts transmission, substantial diploma of transparency in supervision, etcetera.

In cooperation with a well-recognised bank in the field of trade finance, the system brings together a collection of corporations, this kind of as asset release, cash quotation, transaction matching, inquiry management, etcetera., to sort a set of cross-institutional monetary alternatives. It has wholly solved the suffering factors of conventional interbank asset transactions, this sort of as, distortion of transaction information, disconnection involving transaction matching and supply, inconsistent multi-matter benchmarks, complex business operations, etcetera., which received huge recognition and praise. For illustration, in the state of affairs of cross-border payment and settlement of banking companies, the system can create mutual have confidence in among participating functions, which includes payers, transfer provider vendors, banking companies, and payees, so as to realize data sharing and checking synchronization in the course of action of performing anti-money laundering and compliance inspections, which will enhance the process, improve the efficiency and reduce the charge of cash profession. In the inventory financing circumstance, the system can also merge the technological know-how of World wide web of Factors to conduct on-website and serious-time checking of the collateral, as properly as the risk-free storage and dependable sharing of the inbound and outbound data and the pledge data, supporting the fiscal providers of the source chain to reach value reduction and efficiency improve, along with controllable challenges.

Market specialists also have a high evaluation of the Enterprise Processing Program and Blockchain Asset Company Administration Platform Dependent on Major Facts, declaring it has built remarkable contributions to reshaping the asset transaction process concerning economic institutions, enhancing transaction efficiency and protection, and advertising the leapfrog growth of digital finance. In truth, CAI Peng’s achievements are only a microcosm of intelligent financial practitioners. In the long run, it is considered that much more and more younger fiscal skills will actively understand far more electronic economic technologies, continually innovate business types to employ, certainly realize the productive allocation of methods. At the identical time, they will even more leverage the huge value of economical know-how and become a far more highly effective implies of aiding supervision, control monetary dangers in all proportions, and carry on to progress fiscal digitalization into a new stage of progress.

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