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

(reporter: LI Qiang)

Finance is an historical sector, which can trace back again as significantly as 2000 BC. Finance is also a young sector, which is normally at the forefront of the moments, continuously reinventing, upgrading by itself, renewing itself for a extended time. Now, this aged and young business is ushering in adjustments when yet again. At the intersection of several unsure variables, this kind of as, the epidemic of COVID-19, the entire world economic structure is intricate and the downward tension is raising, and science and technologies have come to be the crucial to the reaction. The digital wave sweeping the globe and the powerful increase of the electronic economic system have introduced improvement vitality and certainty value to hundreds of industries.

In conditions of electronic transformation, the rapid development of China’s fiscal sector has captivated the world’s focus. This sort of achievements are inseparable from the unremitting attempts of top rated industry experts and slicing-edge elites in the field. CAI Peng is these kinds of an exceptional “rising wave” in the era of clever finance. Because learning monetary engineering at Huazhong University of Science and Technology, CAI Peng has continued to pay back interest to the digital transformation of the fiscal industry and its progress trend, centered much more on the study and development of intelligent economical solutions, committed to advertising the deep integration of AI know-how and the monetary market in diverse application situations, in get to encourage the higher-top quality improvement of the digital transformation of the economic market.

As the demand for circumstance-dependent, customized and intelligent monetary field continues to enhance, broader and further monetary digital transformation has turn out to be inescapable. In this context, CAI Peng took the guide in introducing Blockchain technology into the industry of intelligent finance, which is of excellent importance to the full monetary market to “Reducing Prices and Enhancing Efficiency”. “On the a single hand, the trust system reshaped by Blockchain will assist the monetary sector lower frictional functioning fees and fraud, increase company efficiency, enterprise auditability and precision. On the other hand, the multi-bash collaboration and knowledge sharing system brought by the Blockchain can comprehend authentic-time settlement and recording of transactions, shortening the company flow time. Nonetheless, the large value of Blockchain technology and superior system specifications have normally been the issues that plagued the application and marketing of the engineering.” Stated CAI Peng.

He tried out to complement Blockchain engineering with the systems, such as the Internet of Things, Encryption, and Big Info, and supported each individual other with cloud storage and cloud computing. Soon after recurring trials and ongoing adjustments, Small business Processing Program and Blockchain Asset Assistance Administration System Dependent on Huge Info was last but not least innovated and created, which has generally accomplished price tag reduction and efficiency advancement in the economic sector. It has the means to subvert unique monetary institutions and goods.

Enterprise Processing Technique and Blockchain Asset Provider Administration Platform Dependent on Big Data integrates a variety of chopping-edge facts systems. In the software layer, it employs the technological know-how of Internet of Things to deliver details accurately and timely, Encryption technological know-how to ensure the protection of consumer facts, and Major Details to proficiently aid the system to mine facts. At the infrastructure layer, cloud storage platforms give storage abilities, with distributed ledgers synchronized across all nodes to type a cloud storage architecture, while ledger validation is carried out based on cloud computing architectures. Used to specific situations, it has precise rewards in conditions of multi-celebration participation, elaborate transactions, sensor data transmission, high degree of transparency in supervision, and so on.

In cooperation with a effectively-regarded financial institution in the subject of trade finance, the platform combines a collection of firms, these kinds of as asset launch, cash quotation, transaction matching, inquiry management, etcetera., to kind a established of cross-institutional monetary solutions. It has completely solved the suffering details of conventional interbank asset transactions, such as, distortion of transaction information, disconnection involving transaction matching and supply, inconsistent multi-topic expectations, elaborate enterprise functions, etcetera., which gained wide recognition and praise. For example, in the situation of cross-border payment and settlement of banking companies, the system can set up mutual trust between collaborating functions, together with payers, transfer company suppliers, banking institutions, and payees, so as to know facts sharing and checking synchronization in the procedure of undertaking anti-revenue laundering and compliance inspections, which will enhance the approach, boost the effectiveness and minimize the price tag of capital occupation. In the stock funding situation, the platform can also incorporate the technologies of Internet of Things to carry out on-web site and true-time monitoring of the collateral, as well as the safe and sound storage and trustworthy sharing of the inbound and outbound documents and the pledge data, assisting the economical products and services of the provide chain to realize price tag reduction and efficiency improve, together with controllable challenges.

Marketplace professionals also have a high evaluation of the Business enterprise Processing Method and Blockchain Asset Support Administration Platform Centered on Major Facts, indicating it has produced excellent contributions to reshaping the asset transaction procedure amongst financial establishments, improving upon transaction performance and safety, and advertising the leapfrog advancement of digital finance. In truth, CAI Peng’s achievements are only a microcosm of sensible fiscal practitioners. In the future, it is thought that much more and a lot more youthful economical skills will actively find out a lot more digital economical technologies, continuously innovate business designs to put into practice, actually know the powerful allocation of means. At the exact time, they will further leverage the enormous benefit of monetary know-how and grow to be a more powerful means of aiding supervision, handle financial dangers in all dimensions, and proceed to advance monetary digitalization into a new phase of improvement.

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