Onchain and Microsoft cooperate to explore blockchain applications, and the second round of crowdfunding of Ant Financial will start in July

What is a reliable electronic signature? my country's "Electronic Signature Law" promulgated in 2005 stipulates that a reliable electronic signature must meet the following four conditions: when the electronic signature production data is used for electronic signature, it belongs exclusively to the electronic signatory; when signing, the electronic signature production data is controlled only by the electronic signatory; any changes to the electronic signature after signing can be discovered; any changes to the content and form of the data message after signing can be discovered.

Although my country's current laws have confirmed that "a reliable electronic signature has the same legal effect as a handwritten signature or seal," there are still loopholes in its actual implementation.

"Based on this pain point, Onchain reached a cooperation with Microsoft by developing an embedded Office 365 add-in + calling the face recognition and voice wave recognition API, and formed a more complete and innovative solution in the field of electronic signature by adding blockchain timestamps."

Onchain founder Da Hongfei introduced this at the 3rd Blockchain International Summit on the 23rd.

Onchain is a leading blockchain technology company in China. Its iconic project, Ant, is a blockchain underlying protocol for registering digital assets. Another important business of Onchain is enterprise-level blockchain solutions, providing enterprise users with alliance chain and private chain development, deployment, and operation and maintenance services.

At the beginning of his speech, Da Hongfei announced a major news: Ant Financial is working with Microsoft to explore cooperative projects on how to implement blockchain.

"In the process of electronic signature, we found a legal problem: the problem of private keys. Private keys stored in mobile phones can be stolen by hackers, and it is difficult to prove the ownership of private keys. Therefore, a mechanism is needed to combine real-world people and private keys. In further communication with Microsoft, we found that Microsoft has a Microsoft Cognitive Service with "face recognition" and "sound wave recognition" APIs. If this technology is added, it will bring about great changes. Let the judge see the face of the person, and the timestamp of the blockchain will be very effective." Da Hongfei introduced the opportunity for this cooperation idea.

A Microsoft representative also took the stage to introduce the cooperation reached with Xiaoyi, which included using VS for development, deploying Xiaoyi on the Microsoft Cloud, embedding Xiaoyi's electronic contract function in Office, and using cognitive services to better make legal identifications.

Regarding this cooperation, Tao Rongqi, VP of strategy at Onchain, said:

“This is a recognition of domestic blockchain startups by international giants, and it also shows that the development of blockchain is not limited to blockchain itself. In the future, it will be increasingly connected with existing social trust mechanisms. The application of blockchain may be able to quickly lower the threshold and move from the conceptual stage to the implementation stage through such cooperation.”

In addition to the big news of the cooperation with Microsoft, Da Hongfei also revealed the many progress and cooperations that Xiaoyi has made this year.

In terms of electronic signatures, in addition to cooperating with Microsoft, Onchain also cooperated with another Internet company, FaDaDa, to develop a digital evidence storage system.

FaDaDa is an open SaaS service platform that provides online electronic contract signing and hosting for enterprises and individuals. It provides legal services such as online contract conclusion and evidence hosting for Internet finance, O2O e-commerce enterprises and individuals.

Da Hongfei said that they are currently developing a digital evidence storage system with FaDaDa to solidify the data and store it. FaDaDa will find a judicial appraisal agency to approve the data. This will also better promote the legal certification of electronic signatures.

In May this year, shortly after the New York Consensus Conference, Onchain announced that it had officially joined the Hyperledger project, becoming the first blockchain technology company from China to join the project.

Da Hongfei mentioned that as the first blockchain company in China to join Hyperledger, Ant Financial will contribute more codes with local experience and Chinese conditions.

Da Hongfei introduced:

"In cryptography, my country uses the SM series of algorithms. For mainstream financial applications in China, we still need to use the SM2 and SM3 algorithms instead of the algorithms used in the community before. We also want to play a role in promoting the update of algorithms."

At the end of October 2015, Antminer launched its first round of crowdfunding, raising 2,100 bitcoins in ten days. Nearly a year later,二期众筹Antminer, which has attracted the attention of many investors, is about to start.

Da Hongfei revealed that the second phase of crowdfunding will be officially launched globally on 7月7日Following international experience, this time, the crowdfunding of Antshares will only accept Bitcoin.

“We hope that Antminer can become a benchmark blockchain project in China. At the same time, it will transform from a local project to a more international project. In addition, a guarantee mechanism has been added this time, which is the multi-signature in Bitcoin. Only when at least two of the three parties agree can the money be used.”

Onchain has released good news frequently this year. Its development in the past year seems to provide a glimpse into the overall environment of current blockchain entrepreneurship.

"The current domestic entrepreneurial environment is very good. Many institutions are still cautious, but not as conservative as before. Five or ten years ago, it would have been unthinkable for a small company like us to talk to the clients we are dealing with now, but now some of China's most core financial institutions are looking for us to cooperate with them."