Blockchain plays an important role in the scientific and technological upgrading of the financial industry. Based on the characteristics of anti tampering and traceability of blockchain technology, baidu super chain and Baixin bank first implemented it in the merchant clearing business of Baidu cashier. As early as 2017, baidu super chain has carried out leading practice in asset securitization and other fields, while Baixin bank, as an AI driven digital inclusive bank, actively explores the application of big data analysis and advanced algorithms in intelligent risk control and other financial fields. This joint launch of merchant clearing application is another important progress in the field of financial technology.
Blockchain provides a new solution for merchant clearing
In order to solve the problems of opaque settlement and possible fraud among e-commerce platforms, merchants and banks, baidu super chain takes Baidu’s self-developed blockchain technology as the bottom layer to build a merchant clearing alliance chain for Baixin bank, merchants and e-commerce platforms, so that the alliance chain nodes can obtain first-hand transaction information at the same time and ensure the lossless transmission of trust. Based on the tamperable and real data on the alliance chain, Baixin bank carries out liquidation. In addition, in order to ensure the information security of the commercial platform, the transaction information on the alliance chain will be desensitized to ensure that the sensitive information of merchants will not be obtained by non alliance chain organizations.
Continuous deepening, baidu super chain financial technology layout panorama
In 2017, super chain launched the first Asset Securitization Product Based on blockchain Technology issued in China. Baidu super chain, as a technical service provider, has built baas (blockchain as a service) and introduced blockchain technology. The participating institutions in the project (duxiaoman, asset generator, trust, securities company, rating, law firm, etc.) are the participating nodes in the alliance chain. As an independent underlying data storage and verification technology, blockchain technology has the characteristics of disintermediation trust, tamper proof, transaction traceability, etc., which can realize that each node can jointly maintain a set of transaction ledger data in the transaction process, and master and verify the contents of the ledger in real time.
In March 2019, baidu super chain launched a data collaboration solution. Data island effect is widespread in the industry. On the one hand, financial institutions, as data demanders, can not effectively introduce high-quality data to support the risk control model. On the other hand, relevant organizations with rich high-quality data sources are worried about data privacy leakage and data sharing difficulties in the process of providing data. With Baidu xuperdata computing solution, the data can be invisible. On the premise of ensuring the data privacy and security of organizations, the credit data sharing of organizations can be realized. The problem of unequal information between financial institutions and other organizations can be solved, the risk control ability of financial institutions can be improved, and the credit risk can be reduced. Thus, the credit loan difficulty of enterprises, especially small and micro enterprises, can be solved It’s a matter of time.
As a domestic self-developed blockchain technology, baidu super chain has been widely used in government services, people’s livelihood, smart city and other fields, boosting the high-quality development of all walks of life. The combination of blockchain and finance goes deep and far, which helps to alleviate the problems of trust, efficiency, cost control, risk management and data security in the financial field. In the future, baidu super chain will continue to promote the deep combination of Finance and blockchain, and explore a new path of financial technology.