Sentinel Chain and Banyan Network announce Strategic Cooperation in Big Data Analysis and Global Market Access
Shanghai, China— 30 March 2018 — InfoCorp Technologies, the company behind Sentinel Chain, a blockchain-based B2B financial inclusion services marketplace — is pleased to announce a partnership with Banyan Network, a fusion of big data network based on blockchain technology called Data Fusion Value Chain Network (DVN). Banyan Network has signed a partnership agreement with InfoCorp Technologies to advance our goal of financial inclusion through the use of big data blockchain technology with livestock collateralisation.
Banyan Network is also the world’s first distributed ecosystem of data economies raised and built by team experts in the field of data analytics. Banyan Network covers data collection, cleansing, integration, and applications of complete business chains, developed theories such as “three laws of data value” and mechanisms such as “tripartite model”.
“This partnership can provide Banyan Network access to a large untapped unbanked market with high demand on big data usage needs. This is an example of how SENC and BBN token model can complement effectively in creating high utility value for both networks.” — David Zhou, CEO of Banyan Network
An important aspect of enabling livestock collateralisation is the effectiveness of providing livestock insurance. One of the challenges of livestock insurance company is determining the value of the animal at the issuance of policy. In order to design a livestock insurance product, insurance companies require a large amount of time series data associated with livestock mortality rate.
“By leveraging Banyan Network’s technology, our livestock insurance partner will be able to gain access to an integrated big data analytics platform that can be used to facilitate their design of livestock insurance products. At the same time, loan providers will be able to use the same technology to create high quality credit analysis for unbanked borrowers using our onchain data.” — Roy Lai, CEO of Sentinel Chain
With Banyan Network’s focus on blockchain enabled trusted data connection as well as building a positive interactive value-linked network of data benefits by establishing standards, the two sides have agreed to complement each other’s resources and jointly build a credit rating system to promote the application of inclusive finance on a global level.
Sentinel Chain is a blockchain-based international marketplace for cross-border financial services and the world’s first platform to accept the use of livestock as collateral. Taking a unique approach to the last mile problem of financial inclusion, the Sentinel Chain model establishes livestock provenance through the creation of livestock insurance on blockchain — the registration of livestock provenance on blockchain provides the unbanked with a new opportunity: the real possibility of accepting livestock as ‘collateral’ for loans.
Banyan Network is a fusion of big data network based on blockchain technology called Data Fusion Value Chain Network (DVN). It is also the world’s first distributed ecosystem of data economies raised and built by team experts in the field of data analytics.
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