Seele Ecological Cooperation Project BSOS Announced

Establishing the Blockchain Platform for the Data Exchange of the Commodities Supply Chain

SeeleTech
SeeleTech
Sep 6, 2018 · 3 min read

Today, Seele’s ecological cooperation project — BSOS officially held its launch conference in Taipei, announcing the development of the blockchain platform for the data exchange of the commodities supply chain. BSOS project is the first officially unveiled Seele ecological project. Seele Chief Scientist Dr. Wei Bi attended the conference and expressed his expectation for the future cooperation between BSOS and Seele.

Bulk Commodity Supply Chain Facing Development Resistance

The annual commodity production worldwide is about $10–20 trillion, accounting for nearly 20% of the global GDP, which had a profound influence on the world’s market. However, limited by the lack of unified and standardized information sharing platform for eco stakeholders in commodity industries to apply, the information flow is slow and inaccurate, which leads to the inability to maximize the overall interest and hinders the formation of supply chain alliances.

The BSOS team believes that by providing smart data exchange through blockchain technology, the operational efficiency of global commodity business processes will be greatly improved, and the operating cost will be significantly reduced.

Designed for Trust — The World’s First Decentralized Blockchain Platform for Data Exchange of Commodities Supply Chain

Due to insufficient credit, small and medium-sized enterprises are facing difficulties in raising funds even though they have the repayment ability. The cost of distrust in business collaboration is enormous. When it involves more complex commodity industry chain, the systematization and concentration ratio are relatively low, and the small and medium-sized enterprises are difficult to form effective data collaboration. Besides, the data generated in business operations may not be regarded as important information, but it might turn to be valuable for their cooperation partners. In addition, the barriers in different industries discourage the data exchange, which makes the communication more difficult. Moreover, the current mainstream blockchains are not suitable for commodity industry which is intricate, high-frequency trading and real-time information highly required.

In order to adapt to different needs of the industry, BSOS aims to build the world’s first decentralized blockchain platform for data exchange of commodities supply chain.

Off-chain Confidential Data — 3 Core Technologies to Solve the Pain Point of the Industry

Based on “Off-chain”theory, BSOS will use its 3 core technologies to solve the pain points of the industry:

Trusted Data Exchange: Thanks to cryptology and engineering, when information users know nothing about the original information from the providers, they can still achieve the trusted data exchange via the analyzation, statistic and prediction of enciphered data.

Reputation Value System: Encouraging the flow and validity of data by making full use of the essence of blockchain data transmission. Accumulated contract fulfillments, upstream and downstream relationships and transactions of small and medium-sized enterprises will be connected, and establish an objective reputation value system.

Heterogeneous Forest Network: To meet the commodities supply chain’s complex ecosystem, the design of consensus mechanism includes safety, stability and expandability. BSOS will work with Seele, use Seele’s Heterogeneous Forest Network, and come up with a mixed multi-chain architecture which fits the ecosystem of supply chain.

Dr. Bi said, Seele always keeps the faith of industrial applications, and working for the landing of fundamental industrial projects. BSOS comes up with an answer to the specific questions of commodities trade and supply chain, and designed the first global commodities supply chain smart contract platform. This is a project which will be able to solve the practical application problems of real industries. Seele and BSOS have deep communication and cooperation in the fields of underlying technology and development strategy. Both sides will make more contributions to the development of blockchain world-widely in the future.

BSOS official website is now online, for more information please go to: http://bsos.tech

SeeleTech

SeeleTech

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SeeleTech

Blockchain 4.0 - Seele is a blockchain ecosystem project developing a multi-chain heterogeneous forest network. Check out our official website at seele.pro

SeeleTech

SeeleTech

Seele is empowered by an up-scalable Neural Consensus protocol for high throughput concurrency among large scale heterogeneous nodes and aims to form a unique heterogeneous forest multi-chain ecosystem.

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