Innovating Financial Technology and Escorting the High-quality Development of Smart Finance


Jun 2, 2022 , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

(reporter: LI Qiang)

Finance is an historic business, which can trace back again as much as 2000 BC. Finance is also a younger business, which is often at the forefront of the occasions, frequently reinventing, upgrading alone, renewing by itself for a very long time. Now, this outdated and young business is ushering in alterations once once more. At the intersection of a lot of unsure variables, these kinds of as, the epidemic of COVID-19, the earth financial structure is complicated and the downward force is increasing, and science and technology have turn out to be the critical to the response. The electronic wave sweeping the world and the strong increase of the electronic overall economy have brought advancement vitality and certainty benefit to 1000’s of industries.

In phrases of digital transformation, the rapid development of China’s economical business has attracted the world’s focus. These types of achievements are inseparable from the unremitting endeavours of major specialists and chopping-edge elites in the market. CAI Peng is such an excellent “rising wave” in the period of smart finance. Because studying fiscal engineering at Huazhong University of Science and Technology, CAI Peng has continued to shell out awareness to the electronic transformation of the economical market and its development trend, focused more on the analysis and enhancement of smart money alternatives, dedicated to promoting the deep integration of AI technological innovation and the monetary field in unique application eventualities, in order to encourage the substantial-excellent advancement of the electronic transformation of the money market.

As the demand for scenario-centered, personalized and clever financial business carries on to raise, broader and further money digital transformation has develop into inescapable. In this context, CAI Peng took the guide in introducing Blockchain engineering into the discipline of smart finance, which is of excellent significance to the overall fiscal sector to “Reducing Charges and Improving Efficiency”. “On the 1 hand, the have confidence in mechanism reshaped by Blockchain will help the economical industry reduce frictional operating expenses and fraud, boost support effectiveness, business enterprise auditability and accuracy. On the other hand, the multi-bash collaboration and info sharing system brought by the Blockchain can realize true-time settlement and recording of transactions, shortening the enterprise movement time. However, the large expense of Blockchain technologies and large program requirements have constantly been the complications that plagued the software and advertising of the technologies.” Stated CAI Peng.

He tried using to complement Blockchain know-how with the systems, this sort of as the Web of Factors, Encryption, and Large Information, and supported each other with cloud storage and cloud computing. Immediately after recurring trials and steady adjustments, Business enterprise Processing Procedure and Blockchain Asset Support Administration Platform Primarily based on Large Information was eventually innovated and designed, which has typically achieved price reduction and effectiveness improvement in the money sector. It has the potential to subvert various fiscal institutions and products and solutions.

Small business Processing System and Blockchain Asset Company Administration Platform Primarily based on Big Data integrates a selection of cutting-edge information and facts technologies. In the application layer, it works by using the technological innovation of World-wide-web of Points to produce facts precisely and well timed, Encryption technologies to make sure the security of person info, and Massive Facts to successfully aid the system to mine details. At the infrastructure layer, cloud storage platforms provide storage abilities, with dispersed ledgers synchronized throughout all nodes to form a cloud storage architecture, whilst ledger validation is done centered on cloud computing architectures. Applied to precise situations, it has specific benefits in phrases of multi-celebration participation, intricate transactions, sensor facts transmission, large degree of transparency in supervision, etc.

In cooperation with a perfectly-identified lender in the discipline of trade finance, the system combines a sequence of firms, these kinds of as asset launch, money quotation, transaction matching, inquiry management, and so on., to sort a set of cross-institutional monetary alternatives. It has absolutely solved the soreness factors of regular interbank asset transactions, these kinds of as, distortion of transaction information and facts, disconnection among transaction matching and delivery, inconsistent multi-subject matter requirements, elaborate business enterprise operations, and many others., which received wide recognition and praise. For illustration, in the scenario of cross-border payment and settlement of banks, the system can build mutual have confidence in among the taking part events, together with payers, transfer service providers, banking companies, and payees, so as to realize facts sharing and checking synchronization in the method of undertaking anti-funds laundering and compliance inspections, which will enhance the method, improve the effectiveness and decrease the expense of cash profession. In the inventory financing state of affairs, the system can also blend the engineering of Web of Factors to carry out on-web site and actual-time monitoring of the collateral, as effectively as the safe and sound storage and trusted sharing of the inbound and outbound records and the pledge information, encouraging the economic services of the supply chain to attain price reduction and efficiency maximize, alongside with controllable dangers.

Sector gurus also have a high analysis of the Business Processing Procedure and Blockchain Asset Provider Administration System Based mostly on Major Data, expressing it has created outstanding contributions to reshaping the asset transaction course of action concerning fiscal establishments, improving transaction performance and security, and marketing the leapfrog growth of electronic finance. In reality, CAI Peng’s achievements are only a microcosm of clever economic practitioners. In the future, it is believed that more and more youthful monetary skills will actively study additional digital monetary technologies, continually innovate company styles to implement, genuinely realize the powerful allocation of resources. At the same time, they will further more leverage the substantial benefit of money technologies and come to be a a lot more impressive signifies of helping supervision, command monetary pitfalls in all dimensions, and continue on to progress economic digitalization into a new stage of improvement.

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