FISCO bcos application case – launch of the first cross-border data verification platform in Guangdong, Hong Kong and Macao Greater Bay

Time:2022-6-12

Recently, the Guangdong Macao cross-border data verification platform was put into trial operation in Guangdong and Macao. This is another innovative practice for Guangdong and Macao to accelerate the convenient and orderly flow of cross-border data and explore the establishment of open, cooperative and exemplary cross-border digital service integration after the official release of the outline of the development plan for Guangdong Hong Kong Macao Great Bay area and the overall plan for the construction of Hengqin Guangdong Macao deep cooperation zone. In the first stage, financial information will be used as the trial category.

The Guangdong Macao cross-border data verification platform is developed based on the domestic safe and controllable blockchain underlying open source platform FISCO bcos. It aims to provide efficient cross-border data verification infrastructure for institutions in Guangdong and Macao, and thus provide convenient cross-border service experience for residents and enterprises in both places. The Guangdong Macao cross-border data verification platform is another innovative pilot of qinao finance based on and serving people’s livelihood, providing valuable practical experience for qinao financial cross-border cooperation.

It is understood that the platform is coordinated and promoted by the Macao science and technology development fund and the Financial Development Bureau of Hengqin Guangdong Macao deep cooperation zone. Zhuhai HUAFA Financial Technology Research Institute Co., Ltd. and Shenzhen United Financial Holding Co., Ltd. are the mainland side operators, Nan Guang Tong Co., Ltd., a subsidiary of Nan Guang group, is the Macao side operator, and Macao wangao Information Technology Co., Ltd. is the platform technology supplier, Shenzhen Qianhai Weizhong Bank Co., Ltd., as the blockchain open source technology supporter, jointly researched and built.

Among them, the data verification capability of the platform is developed based on FISCO bcos, the underlying open source platform of the blockchain. With the tamperability and traceability of blockchain technology, it ensures the authenticity, reliability and privacy of data. In practice, users transfer data across borders independently. Institutions in Guangdong and Macao do not directly transfer and exchange user data. They verify whether the data is reliable by comparing hash values rather than specific information, so as to protect the data privacy of users and institutions and reduce the risk of cross-border data credibility and abuse.

As an open platform, the Guangdong Macao cross-border data verification platform has a number of Guangdong and Macao banking institutions negotiating to launch services on the platform. It is expected that a number of application services will be launched this year. With the maturity of the platform operation test, all parties to the project will also promote the expansion of the platform service to more financial institutions in Guangdong, Hong Kong and Macao Bay area, and further explore the promotion of the platform service to other application areas.

The launch of the Guangdong Macao cross-border data verification platform marks another successful practice of FISCO bcos in the field of cross-border data trusted verification. As early as may2020, the Guangdong Macao health code cross-border mutual recognition system based on FISCO bcos was launched and served for customs clearance between Guangdong and Macao during the epidemic period.

The cross-border mutual recognition system of Guangdong and Macao health codes is developed based on FISCO bcos and adopts weidentity, an open-source entity identity and trusted data exchange solution of wechat blockchain, so that users can carry and declare their personal health information independently. By uploading verifiable digital vouchers, the authenticity and validity of information can still be easily verified in minutes and seconds when the background of Guangdong and Macao institutions is not interconnected, It has promoted mutual trust and recognition of epidemic prevention data between Guangdong and Macao. By the end of 2021, the number of customs clearance personnel with health code clearance certificates had exceeded 100million.

To learn more about dry goods, please follow the official account of FISCO bcos open source community and visit the FISCO bcos code warehouse to download all the source codes of the project: https://github.com/FISCO-BCOS/FISCO-BCOS ,Welcome to click Star Collection in the upper right corner of the page, get the latest version.