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CTO Time: Trias’ Supply Chain Finance Solution(II)

Dr. Wei, Trias CTO, will have a series of Trias Technology Sharing in Trias group( on every Monday 12:00 GMT. The following is the recap of the 9th time:

We have talked about the supply chain finance and blockchain. As we know supply chain finance is the closest step for blockchain to the real economy. Now there are many projects has adopted blockchain tech into supply chain, like Vechain. Trias has also landed its supply chain finance solution in to real economy now, that is Intelligent Platform for the valve industry in Zhejiang China.

Intelligence Platform is a set of vertical industry internet platform system created by Trias and Taizhou innovation center of Yangtze River Delta Research Institute, Tsinghua University of Zhejiang Province, relying on the local valve industry cluster in Yuhuan. It incubates online copper raw material procurement and supply platform, enabling enterprises in the chain to increase efficiency. Relying on blockchain, supply chain and other technologies, it provides enterprises with information authentication and sharing, transaction guarantee, logistics tracking and other functional support, and constructs a complete and efficient “one-stop” comprehensive service system for valve industry.

1. In this case, does the valve industry need to apply blockchain technology?

In our investigation, we found that Yuhuan valve enterprises are numerous, but 90% of them are small. These small and medium-sized enterprises lack the right to bargain for products and their risk tolerance is weak. In addition, the market for raw materials is scattered, and the business qualification of raw material manufacturers lacks credit system. Intelligent platform effectively solves the problems of low efficiency of transaction links, high communication costs, and mismatch between supply and demand in the upstream and downstream of valve industry, effectively deepens and optimizes the supplier relationship and improves the efficiency of fund utilization.

2. Compared with the traditional platform, what is the role of Intelligent Platform?

In addition, the existing supplier credit rating system relies more on centralized data storage, and the data may be tampered with. The role of blockchain in this scenario can be summarized as follows: first, to ensure the security, integrity and unforgeability of transaction data and operation records; second, to ensure that digital assets can not be tampered with, shared by multiple parties and traceable without damage; third, intelligent clearing can be completed by executing smart contracts.

3. What kind of upgrading effect has the Intelligent Platform played on the industry by accelerating the circulation, safe circulation and convenient circulation?

In this project, Intelligent Platform has established a distributed ledger of valve material transaction based on blockchain technology. From the aspects of transaction subject, transaction price and trading mechanism of valve industry, the trading mode framework of valve industry has been constructed, and the accurate settlement between transaction subjects has been realized. Secondly, the industrial big data precipitated on the platform in various business scenarios was summarized and analyzed again to excavate more potential value and complete the comprehensive recycling of industrial big data, so as to promote the technological innovation and production of value Internet Industry upgrading.

4. Is Trias’ design scheme based on the understanding of valve specific industry or the basic economic model of industrial manufacturing? What are the key concepts or technical routes presented on this platform?

For a long time, restricted by the traditional data storage, data mining means and traditional industrial concept, the potential of digital economy hidden in industrial data has not been effectively explored and fully utilized. In this project, the value discovery of data is the core proposition. To explore the value of data resources, the industrial big data of the whole valve industry is stored on the Intelligent Platform by using the blockchain, and the combination of artificial intelligence, secure multi-party computing and data service intelligent contract is used to realize the aggregation of industrial data, explore its potential value and realize the data and drive industrial upgrading.

5. The platform realizes the circulation of value in the industrial chain by using the blockchain. What value is the value here and how to realize the circulation?

The value here mainly refers to the value of industrial big data. Based on the big data generated by the trading behavior of platform users, the performance ability of business flow, logistics, information flow and capital flow can be reflected in the whole chain in real time by putting the data on the chain in time and using the powerful information sharing ability of the blockchain.

6. What are the key features of blockchain technology to ensure this flow?

In the process of value transfer, the basic logic is to make use of the characteristics of blockchain that can not be tampered with and distributed ledgers, and rely on the core enterprises in the industrial chain to digitize and capitalize the commercial credit of the core enterprises into a kind of digital carrier that can be paid and financed, and circulate in the multi-level supply chain system.

TRIAS(Trustworthy and Reliable Intelligent Autonomous Systems)

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