A New Public Service of Xinghuo BIF
What to do when contract signing becomes a trouble during the COVID-19 pandemic?
What to do when package deliveries of agreements and contracts become insecure and inefficient?
What to do when the identity of a fake signatory representative can’t be verified?
What to do when the division of signing and ceremony makes it hard to update records in real time?
The normalization of the COVID-19 pandemic has brought many difficulties to the traditional way of signing offline agreements and contracts, the subjects of which usually live in different cities or even countries. Such a way of signing — delivering packages of signed agreements and contracts, and then exchange and sign them, proves to be insecure and unverifiable. It can’t be updated and checked in real time. Besides, it is costly, inefficient and hard to manage.
Xinghuo Blockchain Infrastructure & Facility (Xinghuo BIF) just launched out its public service — Xinghuo Blockchain Signing. By making use of blockchain features like distributed ledger and immutability, it keeps the records of operation process and signed documents on the blockchain, making traditional signing a reality in the infrastructure, Xinghuo BIF, and promoting the efficiency of multi-party and multi-site signing. Xinghuo Blockchain Signing applies to multiple contexts, including the signing of custom cooperation agreement between enterprises, governments and nodes trusted by Xinghuo BIF, on-site signing ceremony and certificate issuance.
At present, Xinghuo Blockchain Signing is already applied in business like the signing of certificate for suppliers of Xinghuo BIF backbone nodes technology and the Xinghuo BIF backbone node access certificate. Plus, it had already finished the signing of 29 Xinghuo BIF backbone nodes supplier certificates. By issuing certificates through Xinghuo Blockchain Signing, all network users can find detailed information about their certificates as quick as possible based on the blockchain-based Identifier (BID).
Next, Xinghuo Blockchain Signing will come up with functions like account managing and visa managing one after another. It will also launch out more templates of signing occasions, extension usage environments ( like mini programs in Wechat and H5), and API integration, providing safe and efficient blockchain signing services for all industries.
Highlights about Xinghuo Blockchain Signing
With its Safe and Reliable Service Ability, Xinghuo BIF, a New Type of National Infrastructure is a Guarantee
As a new type of infrastructure at the national level , Xinghuo BIF , with special support from the Ministry of Industry and Information Technology, practices consensus algorithms on the blockchain through super nodes operated and built by multiple parties, therefore ensuring the safe and stable operation of Xinghuo Blockchain Signing.
BID Conforms to the Standards of W3C and DID, Makes Global Resolution a Reality
Xinghuo Blockchain Signing takes its self-developed Blockchain-based Identifier (BID) as the only identifier for signed documents. After the signing process, it inputs key information into BID documents and preserves certificates on the Main Chain of Xinghuo BIF. In this way, users from all around the world can search relevant information quickly through BID identifier resolution service provided by Xinghuo BIF.
Multi-party Analysis, Diverse Ways of Signing
Xinghuo Blockchain Signing supports single-party and multi-party signing, which meets the demand of clients in many contexts including B2B and B2G.
Blockchain Application Throughout the Process
Xinghuo Blockchain Signing carries out signing management throughout life cycle, possesses operation recording and extraction ability throughout the process, and meets the demand for inquiry and examination.
Function Description of Xinghuo Blockchain Signing
Signing Management
It supports multiple signing templates and user-defined signing, meeting various kinds of signing demands and occasions. After the signing is completed, the user can download, preserve or send out the signed documents.
Verification of Documents on the Blockchain
Owner of the document can upload signed document and through comparison between the computer file Hash and blockchain Hash, can examine whether the document is already existed on the blockchain and relevant information.
Inquiry about Documents on the Blockchain
Users can search signed documents that “had already been published” , analyze the source document after it is signed, information about the signing date, operator, and the time of accessing blockchain through signed BID, parties and names.
Contexts of Xinghuo Blockchain Signing Application
On-site Signing Ceremony
Traditional ways of recording on-site signing ceremony mainly include news and pictures inconvenient for long-time recording and inquiry, whose authenticity is also hard to be examined. The application of Xinghuo Blockchain Signing in all kinds of on-site signing ceremonies in offline activities and in information about signing date and party allows the public to access signing information without news release.
Certificates of Xinghuo BIF Backbone Nodes Access
At present, certificates of Xinghuo BIF backbone nodes access are issued on paper. There is no convenient way of examination that has public credibility. However, through Xinghuo Blockchain Signing , China Academy of Information and Communications Technology (CAICT) can issue certificates on the blockchain, through which everyone can search their certificates of Xinghuo BIF backbone nodes access, saving the trouble of backbone nodes handing paper certificates to the demand side.
On February 28th, the directory of Xinghuo BIF backbone nodes suppliers was released in the Second General Assembly of the Alliance for Blockchain Industry,Z-park (ABI). All certificated issued for suppliers were signed through Xinghuo Blockchain Signing and were preserved on the blockchain. They can also be examined through “Signing BID”.
The signing of MOU
The signing of international Memorandum of Understanding (MOU) often involves different regions. The cost of MOU signing is especially high during the COVID-19 pandemic. Through Xinghuo Blockchain Signing, however, users can make operations online anywhere and anytime, which is shortcut, convenient and low-cost without geographical restrictions.
About Xinghuo Blockchain-based Identifier(BID)
BID (Blockchain-based ID) is in line with the DID (Decentralized Identifiers) requirements of W3C (World Wide Web Consortium), including the encoding rules and resolution protocols. It is an AIOT (AI+IOT) identifier system based on the new type of infrastructure, Xinghuo BIF. It has many features, including self-registration, self-management and permanency. Besides, It can be analyzed all over the world. It is distributed and can verify identities.
BID can be taken as the native embedded address of the basic blockchain of Xinghuo BIF. Moreover, the attribute, credibility validation, can be preset in the bottom of the chain to ensure the security and credibility of the blockchain address.
BID guarantees its global uniqueness, mutual connection and recognition and natural credibility, helping enterprises solve the problem of data island and promoting mutual and cross-chain operation of heterogeneous data in different regions with different owners.
About Xinghuo BIF
With the special support of the Ministry of Industry and Information Technology, Xinghuo BIF is China’s largest national-level blockchain network supported by all levels of the Chinese government. Lead by China Academy of Information and Communications Technology (CAICT) , it is jointly built by Beihang University，Beijing University of Posts and Telecommunications and China Unicom. Xinghuo BIF provides basic services including multi-identifier integrated management, digital identity, public data sharing for individuals, enterprises, devices and digital subjects based on permissioned public blockchain and distributed identifier technology. Xinghuo BIF aims to build brand new credibility and value systems. It has built a basic service system based on the blockchain technology for all industries that is decentralized and equal. It guarantees data security and credibility with a highly practical system and structure. It realizes the value-based and point-to-point exchanges and transfer of data and property in order to achieve the credible connection and mutual practicality of data that crosses sectors, industries, systems and platforms, thus building a smart E-connected world. As a digital basis of China’s development of digital economy, transformation of economic digitization and high-quality development, Xinghuo BIF will strengthen its independent innovation ability.
For more information about Xinghuo BIF, please contact via gaofei3@caict.ac.cn or follow us with @ABI_Zpark
