Financial Blockchain Cooperation Alliance (Shenzhen) was established in Shenzhen

Blockchain is a cutting-edge technology for Internet finance, and will have a huge impact on financial business models and financial technology architecture. At present, international financial giants have laid out blockchains. The R3 organization established the R3 Alliance in September 2015 to develop CORDA; the Global Blockchain Committee was established in Dubai in November 2015; the LINUX Foundation began to build HyperLedger in December 2015; and Japan established the Blockchain Cooperation Alliance (BCCC) in April 2016. China's financial institutions and financial technology companies are also unwilling to lag behind. On May 31, the Financial Blockchain Cooperation Alliance (Shenzhen) was successfully held at the Shenzhen Wuzhou Hotel, marking the official establishment of the Financial Blockchain Cooperation Alliance (Shenzhen).

The Financial Blockchain Cooperation Alliance (Shenzhen), referred to as the Golden Chain Alliance, aims to integrate and coordinate financial blockchain technology research resources, form a joint force and coordination mechanism for financial blockchain technology research and application research, improve the R&D capabilities of member units in the field of blockchain technology, explore, develop, and realize financial alliance blockchains suitable for financial institutions, as well as application scenarios based on this.

The Golden Chain Alliance was initiated by 25 financial institutions and financial technology companies, including Essence Securities, JD Finance, Bosera Fund, Chongqing Stock Exchange Center, First Capital Securities, Fude Insurance Holdings, Guosen Securities, Hang Seng Electronics, Southern Fund, Ping An Bank, Qilu Stock Exchange Center, Ping An Financial Technology, WeBank, Jinzheng Shares, Shenzhen Jinxinhui, Yingshisheng, Zhiyuan Speed ​​Link, Sifang Jingchuang, Silver Chain Technology, Shenzhen Securities Communication, Wuhan Stock Exchange Center, China Merchants Securities, China Merchants Bank Network, China Equity Group, and China Securities Credit. At the meeting, the 25 alliance initiators jointly signed the alliance agreement.

The Golden Chain Alliance also includes six member units, including Huaan Property & Casualty Insurance, Huawei, Qianhai Stock Exchange, Qianhai Life Insurance, Tencent, and Shandong City Commercial Bank Cooperation Alliance.

Representatives and technical backbones of the above 31 Golden Chain Alliance member units attended the founding conference and the first member conference of the Financial Blockchain Cooperation Alliance (Shenzhen).

At the meeting, Dr. Shentu Qingchun introduced the preparatory work of the Golden Chain Alliance on behalf of the preparatory group; the conference reviewed and voted to pass the alliance charter; the conference elected 16 units including Essence Securities, JD Finance, Bosera Fund, Fude Insurance Holdings, Guosen Securities, Hang Seng Electronics, Southern Fund, Ping An Bank, Qianhai Equity, Shenzhen Jinxinhui, Jinzheng Shares, Silver Chain Technology, Shenzhen Securities Communications, China Merchants Securities, CMB Network, and China Securities Credit as members of the Golden Chain Alliance presidium; the conference nominated the Shenzhen Financial Information Service Association as the organization responsible for the alliance secretariat. Based on the nomination of Li Shen, the elected secretary-general of the alliance, the presidium of the alliance also hired Silver Chain Technology CEO Shentu Qingchun as executive vice secretary-general, and hired Su Xusheng, director of Shenzhen Securities Communications R&D Department II, and Yao Huiya, director of WeBank's innovation research, as deputy secretaries-general.

Under the chairmanship of WeBank's Chief Information Officer Ma Zhitao, the conference discussed and approved the alliance research plan. Shenzhen Securities Information Technology Co., Ltd. organized relevant blockchain equity trading institutions to carry out the "Research on the OTC Equity Trading Market Platform Based on Blockchain"; WeBank was responsible for leading the research on "Blockchain Underlying Technology Platform", "Blockchain Cloud Service" and "Blockchain Financial Products Primary and Secondary Markets"; China Securities Credit was responsible for leading the research on "Blockchain Credit Service"; Fude Insurance Holdings was responsible for the research on "The Application of Blockchain in the Points Field", Hang Seng Electronics was responsible for the research on "Blockchain Bill Management Topic" and "Ethereum Light Wallet" topics, and China Merchants Network was responsible for the research on "The Application of Blockchain Technology in Banking Financial Instruments"; Ping An Financial was responsible for the research on "Digital Diamond (Marriage Insurance)", and JD Finance was responsible for the research on "ABS Cloud Service Based on Blockchain" and "Digital Asset Registration and Transfer". The host and the secretariat approved the above research topics on the spot.

Zhou Tianhong, Gao Hong and Wang Deying, co-chairmen of Shenzhen Financial Information Service Association, delivered speeches respectively. Zhou Tianhong pointed out that the research groups of each blockchain topic should implement specific research tasks and strengthen exchanges and cooperation to improve R&D efficiency. Gao Hong pointed out that after the blockchain is established, it will be more about innovation and subversion of business models. Customers are more important in market factors. Financial institutions should cooperate to provide customers with better services. Wang Deying pointed out that the establishment of the Financial Blockchain Cooperation Alliance will help improve Shenzhen's innovation in the field of financial technology, but the development and application of blockchain technology also face many challenges. The Golden Chain Alliance will regularly hold blockchain technology training sessions and application scenario discussions to ensure the smooth progress of research on various topics.

The guests and member companies have high hopes for the establishment of the alliance. The establishment of the Golden Chain Alliance will accelerate the accumulation and digestion of technology by financial institutions and financial technology companies. The combination of all participants can make applications land faster and promote the development of blockchain in China and even the world.

Copyright Statement: The author reserves all rights. The article is the author's independent opinion and does not represent the position of Babbitt.

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Columnist

Shentu Qingchun

Founder of Silverchain Technology, PhD of Shenzhen University

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