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

George T. Taft

(reporter: LI Qiang)

Finance is an historical field, which can trace back again as much as 2000 BC. Finance is also a youthful market, which is generally at the forefront of the situations, constantly reinventing, upgrading itself, renewing alone for a lengthy time. Now, this previous and young field is ushering in alterations when again. At the intersection of lots of unsure components, such as, the epidemic of COVID-19, the earth financial framework is intricate and the downward stress is raising, and science and technologies have develop into the key to the reaction. The digital wave sweeping the earth and the sturdy increase of the digital economic climate have brought improvement vitality and certainty price to countless numbers of industries.

In phrases of digital transformation, the rapid development of China’s monetary marketplace has captivated the world’s awareness. These types of achievements are inseparable from the unremitting attempts of top specialists and slicing-edge elites in the business. CAI Peng is such an excellent “rising wave” in the period of intelligent finance. Considering the fact that learning fiscal engineering at Huazhong University of Science and Technology, CAI Peng has continued to fork out focus to the electronic transformation of the money business and its progress trend, targeted much more on the research and improvement of intelligent economic solutions, fully commited to promoting the deep integration of AI technological innovation and the economic market in unique software eventualities, in buy to advertise the superior-quality progress of the digital transformation of the financial industry.

As the desire for situation-dependent, personalised and clever financial sector proceeds to increase, broader and deeper financial electronic transformation has grow to be unavoidable. In this context, CAI Peng took the lead in introducing Blockchain technologies into the discipline of wise finance, which is of fantastic importance to the entire economic marketplace to “Reducing Fees and Enhancing Efficiency”. “On the a person hand, the belief system reshaped by Blockchain will help the fiscal field decrease frictional working prices and fraud, increase services efficiency, organization auditability and accuracy. On the other hand, the multi-social gathering collaboration and information sharing mechanism introduced by the Blockchain can notice true-time settlement and recording of transactions, shortening the small business circulation time. Nevertheless, the significant value of Blockchain technology and large method requirements have generally been the challenges that plagued the software and advertising of the know-how.” Said CAI Peng.

He tried using to complement Blockchain technologies with the technologies, this kind of as the Net of Items, Encryption, and Major Knowledge, and supported just about every other with cloud storage and cloud computing. After repeated trials and ongoing changes, Organization Processing Method and Blockchain Asset Provider Management Platform Based on Massive Facts was eventually innovated and made, which has commonly realized price tag reduction and performance enhancement in the fiscal field. It has the capacity to subvert distinct fiscal establishments and goods.

Business enterprise Processing Procedure and Blockchain Asset Service Management System Primarily based on Big Knowledge integrates a amount of reducing-edge info systems. In the software layer, it employs the technologies of Online of Issues to generate facts correctly and well timed, Encryption technology to guarantee the stability of consumer info, and Major Facts to properly assistance the system to mine facts. At the infrastructure layer, cloud storage platforms give storage capabilities, with distributed ledgers synchronized across all nodes to variety a cloud storage architecture, although ledger validation is done primarily based on cloud computing architectures. Used to certain situations, it has distinct rewards in phrases of multi-party participation, elaborate transactions, sensor details transmission, high diploma of transparency in supervision, and so forth.

In cooperation with a very well-known lender in the industry of trade finance, the platform combines a sequence of firms, such as asset release, money quotation, transaction matching, inquiry administration, etcetera., to form a set of cross-institutional financial solutions. It has wholly solved the agony points of regular interbank asset transactions, such as, distortion of transaction information, disconnection amongst transaction matching and shipping, inconsistent multi-issue requirements, advanced small business functions, and so forth., which won vast recognition and praise. For example, in the scenario of cross-border payment and settlement of banks, the system can establish mutual rely on among collaborating parties, such as payers, transfer provider vendors, financial institutions, and payees, so as to recognize info sharing and checking synchronization in the course of action of doing anti-revenue laundering and compliance inspections, which will optimize the approach, strengthen the performance and lower the cost of funds occupation. In the inventory funding circumstance, the system can also mix the technology of Online of Items to perform on-web-site and genuine-time checking of the collateral, as properly as the protected storage and trustworthy sharing of the inbound and outbound information and the pledge documents, serving to the monetary solutions of the provide chain to realize value reduction and effectiveness improve, alongside with controllable pitfalls.

Marketplace specialists also have a substantial analysis of the Enterprise Processing Procedure and Blockchain Asset Services Management Platform Primarily based on Big Information, declaring it has produced outstanding contributions to reshaping the asset transaction method concerning economical establishments, increasing transaction performance and security, and endorsing the leapfrog improvement of digital finance. In simple fact, CAI Peng’s achievements are only a microcosm of sensible money practitioners. In the long run, it is considered that additional and additional young money abilities will actively find out far more digital monetary systems, repeatedly innovate organization models to put into practice, actually know the productive allocation of methods. At the same time, they will further more leverage the big price of monetary technology and develop into a more effective usually means of aiding supervision, manage money hazards in all proportions, and keep on to progress monetary digitalization into a new stage of growth.

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