The biggest problem of supply chain finance business is that logistics, information flow and business flow cannot ensure unity and authenticity in actual business.Due to the length of the chain, the complexity of the links and the many parties involved, frauds in the supply chain occur frequently and lack effective solutions.For the capital side, such uncertainty has caused the capital side to face huge challenges in post-loan management and also restricted the healthy development of the industry.However, the existing blockchain-based data management technology cannot take into account the credibility and efficiency of massive data access, nor can it ensure the authenticity of the data source. As a result, it can only serve pure online businesses such as credit splitting and cannotFully applied to a wider market.Technically speaking, blockchain technology is inefficient in terms of mass data access: writing too much data in the block will affect the scalability of the chain, and both packaged writing and traversal reading will cause dataLow access efficiency; although the combination of blockchain and database (or distributed file system) can be used for large data access, it cannot prevent the data itself from being modified; finally, the indelible characteristics of data on the blockchainThere is a certain conflict with the needs of enterprise-level applications. As the data continues to grow, the system will become more bloated, increasing maintenance costs.Wuyuan Technology, as a new player in the industry (established in May 2018), has independently developed a blockchain-based mass data storage system ImSQL, which has solved the problem of ensuring that data is protected from unauthorized deletion and trusted storage.The problem of data access and maintenance performance, at the same time, it also has the capabilities of protecting data privacy, efficient indexing, supporting horizontal expansion, and SQL that are not available in traditional blockchain storage systems.Performance comparison between IMSQL and other storage methods With the core technology of ImSQL, the company has further developed a “trusted data management technology based on material chain fusion” to solve the authenticity problem of data sources and meet the requirements for data integrity in areas such as supply chain finance.The need for process authenticity.Regarding the reasons for entering from the field of supply chain finance, Dr. Jiao Zhenxuan, the founder of Wuyuan Technology, believes that the supply chain financial market is huge.However, traditional technology cannot meet the demand of “three streams in one”, data is frequently falsified, corporate data cannot be self-certified, and financial institutions have difficulty in monitoring, which has restricted the development of supply chain finance.Wuyuan Technology’s blockchain + IoT fusion technology stack uses blockchain to manage massive data flows and trusted IoT to track cargo flows. In the future, it can access the central bank’s legal digital currency and control the capital flow through smart contracts.The feasible three-flow one-in-one management and control scheme provides scientific and technological assistance for the healthy development of supply chain finance and solving the financing problems of small and micro enterprises.The technical solutions provided by Wuyuan Technology can be further understood from three levels: On the “physical end”, the company’s self-developed Edge Trust object-end trusted system enables field monitoring equipment to ensure the identity credibility and data security of the monitoring equipment.Sex.For example, in terms of identification and monitoring of goods, it is possible to prevent risks such as counterfeit identification and data falsification.In the “cloud”, the trusted source cloud service supports highly concurrent, massive, real-time data upload from the “object side”, and ensures the security and immutability of data during the collection process, so as to ensure that the data will not be transmitted.Stolen and tampered with.At the “chain end”, ImSQL opens up the data flow of all participants through the full credible storage of massive data, and stores the massive data collected at the object side to ensure mutual trust in data at all links.Core enterprises, upstream and downstream enterprises in the supply chain, and financial institutions can jointly maintain and share necessary data in the interconnected data pool to prevent any unilateral tampering with the data.In addition, based on ImSQL’s innovative privacy protection technology, multiple parties cannot see data that is not authorized for them while maintaining data together.The company currently outputs standardized products for a number of different scenarios, and has already landed in multiple supply chain areas in Guangdong, Shanxi, Shandong, Henan and other places, with the first orders of millions of yuan.The solution architecture team currently has 13 people, including 6 PhDs, with core members from the Chinese Academy of Sciences, Huawei BAT, etc., and 3 people serve as members of the Blockchain Committee of the Chinese Computer Society and the Chinese Communications Society.The company currently serves as the Chairman of the IEEE Blockchain IoT Trusted Data Management Standards Group, the Chairman of the Digital Assets Standards Group, and the Secretary General of the IoT and Blockchain Integration Technology Standards Group.Well-known companies such as Xiaomi and Xiaomi have jointly promoted the standardization of blockchain IoT technology, which has advantages in this segmented field.The company has recently completed a multi-million-dollar angel round of financing led by Hongtai Fund..
Let the blockchain realize mass storage, “Maoyuan Technology” provides a more secure and reliable solution for supply chain finance