Block chains, large data and the value of global trade


nnnRush when comment: the world today, the data were the world. Companies like Visa are one of the most valuable data sets on Earth, but the company will never disclose data about customers’ transactions, which may change with the emergence of a more open and centralized Internet. The combination of block chains and supply chains not only provides transparency for trade finance, but also realizes real-time transactions, and the relationship between block chains, large data and global trade is mutually reinforcing.n
nnTranslation: Nicolen
nMixing data is more valuable than fragmented data. About the global courier company, there is a legend, sometime in 2007, the company’s monthly orders fell sharply, and this happened just before the global economic downturn soon. The traditional economic forecast did not find the problem, but there were some visible trade finance data that showed that many contracts had been canceled, which brought us some warnings.n
nMacroeconomic forecasters and statistic analysts believe that trade data provides the most accurate window for the global economy. Trade finance data has been a notorious opaque part of the supply chain, but as more and more banks and software vendors have tested trade / supply chains and other digital platforms, we are now witnessing end-to-end digitization.n
nTraditionally, the supply chain uses outdated procedures, physical letters of credit, bills of lading and purchase orders to trade. Now the supply chain is rapidly digitizing, allowing this process to make information data easier to aggregate and access.n
n”Said Christian Lanng, chief executive officer of Tradeshift (trade finance and supply chain solutions in collaboration with HSBC and Santander)n
nn”In the next two to five years, we will see a large number of global data sets of digital, these data sets are from the line to the line. This also means that you can use different ways to trade, there are different The use of the same time you can use these data for research or other applications.n
nnTradeshift supports more than 100 different types of transactions, such as bills of lading, letters of credit, invoices, purchase orders and so on. Lanng said that one of the main reasons for the large amount of data aggregation is because of cloud computing, which also reduces the cost of the program. “All of this is built on an open and powerful platform, and we have an open API that allows us to build third-party applications that use that data.”n
nToday, the industry traverses alternative data that can be used to clean up and prepare for hungry asset managers and hedge funds. However, companies like Visa are one of the most valuable data sets on Earth, and the company will never disclose data about customers’ transactions. Maersk is also the case, Maersk hands more than half of the global supply chain snapshot.n
nSo when the supply chain platform and the use of shared ledgers will undoubtedly make these data more intuitive and detailed – and the question is that this will eventually make the platform easier to access it?n
nTony Nash, chief executive of Complete Intelligence, Inc., said the trade data set is a very good representation of global supply / demand, but trade finance is still a missing part.n
nn”Trade let us know what is happening in the supply chain, let us know exactly what the finished product situation, and today’s trade finance problems are very opaque, personal banking and trade finance companies really do not want to expose their trade financial data, So the public-oriented data on trade finance is really numbered. “n
nnn”I think the chain chain will bring some transparency to the total value of trade finance and the actual value, and we can let us trade in a more real-time way.There are many such information there is a delay, so you can not understand The progress of things. “n
nnn”There is no global source of information. We already have cargo data; we already have some service data and macro data for all of these currencies, and trade finance adds a very interesting one in terms of time and the cyclical impact of trade Floor.”n
nnThose who focus on the chain area of ​​the enterprise know that data privacy is a prerequisite, so it is necessary to run as many nodes as possible in participating banks. Professional data collection and curators are well aware of this fact. They see this potential and are paying close attention to this area.n
nAsset Management Industry Data Insight Tammer Kamel, Chief Executive Officer of Quandl, a well-known provider, said:n
nn”Almost all hedge fund customers are envious of the supply chain’s insight, although Quandl has some data to illustrate some of the reasons, but the gap still exists, and the adoption of block chains can make things clearer.”n
nnn”That is to say, most of the supply chain participants have a strong incentive to keep the details of the business in a state of secrecy.As in other areas, in this area, we are closely watching the block chain to take a look at by-products Will show what kind of powerful data. “n
nnBlock chain technology is well suited for development, and with different use cases being fully explored, there may be many changes in design. Amber Baldet, leader of JPMorgan’s block chain program, has created a highly secure, modified “Ethereum” public group called Quorum, which is intended for use by businesses. However, she says some blocks of chain use – and she takes global trade as an example – in the future may be dispersed in the huge user network to see more value.n
nBaldet said:n
nn”Everyone is concerned about the chain of supply chains on the chain if you only want the accounts receivable to flow or the credit is internalized – a relatively small number of banks between the markets – then you can use a business block Chain solutions specifically built for infrequently trusted participants. “n
nnn”But if you think that over time, you want to add tens of millions of terminal vendors in the chain chain supply chain, not just businesses, but also the actual suppliers and sizes of fabric Very small shop … any fully licensed chain begins to look more like a public chain.n
nnThis type of block chain, although not open to the whole world, but may be widely used, we will gradually see the safety / utility trade-offs. At some point, it seems to infiltrate the old Internet / internal network parameters that are usually presented by private chain opponents.n
nJeremy Epstein, CEO of Never Stop Marketing, spent some time thinking about the interaction between large data blocks and block chains and how to make full use of them. He argues that this phase of the block chain is similar to the company’s intranet in the late 1990s, both as exciting. Epstein said:n
nn”Over time, you will find that the real value is not to get permission, or the Internet version of the block chain.I think you will start to focus on the new supply chain built around these public chains.”n
nnHe pointed out that companies like Google and Facebook are currently in the leading position in man-made intelligence and machine learning, in part because they can get the most data. But this may change with the emergence of a more open and centralized Internet.n
nn”In the short term, big companies with large amounts of data will have an advantage, but I think we will see the value of the public chain and the convenience of innovation on it, which is the real difference.”n
nnn”As more and more small-scale participants begin to emerge, they create nodes and micro-applications, so collaboration will emerge as an example of the Kenya coffee supply chain node on the global coffee supply chain.”n
nnHe said:n
nn”Big companies can not innovate at the micro level because there is no value for big companies, but some entrepreneurs in Nairobi can suddenly, and the data on the public chain begins to explode, so if I want to analyze the global coffee market Progress, I can view the public chain, and can put my AI and machine learning algorithm on top.n
nnn”The more data you have is the winner, and there will be more and more data in the public chain, and no private organization or even a private ecosystem can compete with billions of people.”n

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