Wu Xiaochuan: the blockchain Xiaoshan technology value lies in the products and services into the encryption of digital assets, low friction, no boundary circulation | P.O.D new potential Summit

In November 28th, the daily planet by Odaily combined with 36kr’s 2018 P.O.D New BlockTrend potential new blockchain summit held in Beijing.

Will Wu Xiaochuan, director of the Joint Laboratory of Xiaoshan – Fudan block chain and information security “passes economy exploration” as the theme of the speech. He shared how insurance assets to block chain world mapping from the physical world, and through asset open protocol, the establishment of asset securitization and unified standards, so as to promote the circulation of assets.

Wu Xiaochuan believes that the blockchain value lies in the products and services into the encryption of digital assets, in order to pass the form of carrying value of assets and data, low friction and no border trading circulation.

The following is the Wu Xiaochuan speech:

 Wu Xiaochuan: the blockchain Xiaoshan technology value lies in the products and services into the encryption of digital assets, low friction, no boundary circulation | P.O.D new potential Summit

Good afternoon, I am from Xiaoshan technology Wu Xiaochuan. In fact, in the afternoon the guests share are mentioned in the asset passes, but we integrate assets concept passes, this paper proposes an open protocol to help assets through asset securitization.

Block chain passes from the blockchain, produced in the block chain, the circulation in the block chain. They generally have a monetary attribute and economic attribute, tools. Monetary attribute circulation; tool attribute is the use of the blockchain certificate of interest; economic attribute refers to the pass card itself has value, such as the value of more users or users more active on behalf of it may be higher.

But today I speak from the asset passes, passes the market have seen now. The asset passes from the blockchain outside, produced in the block chain, circulation in the block chain, the assets are tangible assets, such as mountains, rivers, real estate, vehicles, cattle and sheep; can also be the Internet of digital and electronic electronic documents, such as bills, integral and Jingdong. Etc..

Pass card concept originated in the Xiaoshan years of accumulation. Zhong An insurance since 2013 years from zero to a definition of Internet insurance; the establishment of Xiaoshan technology in 2016 years, the development tools and platform; in the ability to open technology platform at the same time, we used data and service aggregation, links, refinement, and promote the development of the insurance business ability, enhance the user experience, to achieve channel innovation, product innovation, and efficient supervision and auditing.

However, we further open platform products, and found some problems, such as data open, collaborative problem of reinsurance, coinsurance industry, and with the party scene low cost flexible access link problem. We hope to solve these problems, through technical means, and this is our current mission as a technical team.

I mentioned the problems from the “step chicken” project, and even street is our cooperation in science and technology. “Step chicken” project combines block chain, networking, intelligent pseudo, realize the traceability of the chickens. Through this project, many customers come here, they demand more complex. How fast the development and iteration of new products, existing security traceability system to push integration and deployment, agricultural insurance, insurance and other financial services performance to quickly access, these are problems that we need to be taken into account in the scheme.

Our scheme is that the assets and interests in the chain that block. By opening up the assets agreement, unified service docking interface and data format. So, in the transfer of various links between the various parties involved or is no longer a messy API and discrete data, but the specific carrying passes the asset value and asset data.

 Wu Xiaochuan: the blockchain Xiaoshan technology value lies in the products and services into the encryption of digital assets, low friction, no boundary circulation | P.O.D new potential Summit

Take back in front of the just case, we found the blockchain value lies in the products, services, activities into the encryption of digital assets, asset value and asset carrying data to pass card form, low friction, no border trade flows, so as to stimulate the real value of assets, enabling entity economy.

Therefore, we propose an open capital agreement, asset securitization is used to define the general standard. While landing in the field of insurance for the insurance assets policy into policy passes, by promoting policy through credit to promote the circulation of insurance assets and data flow, so as to enhance the ability of the insurance business.

The policy actually passes more than one, according to some characteristics of our insurance business is mainly divided into 4 categories. You may don’t know much about you on the insurance, I can introduce in this. The structure of the insurance products in the actual application of which is very complex, there are usually 6 to 10 level hierarchical configuration information, and underwriting, underwriting, risk control and a series of rules. The so-called insurance products, more is a kind of abstraction, for users to understand the concept, especially after the emergence of network marketing platform. It really is the insurance product terms, such as the purchase of air tickets, flight delays, the insurance company paid me money terms.

With this foundation, we look through the insurance certificate. PPT501 is a thousand faces of single terms of insurance products. A single clause refers to the uniqueness, only one clause. And thousands of thousands of people face is always an insurance product, each policy passes are not the same. Technically, thousands of thousands of people face is non homogeneity. PPT502 and 501 opposite: passes with an insurance product all is the same, for mutual insurance, such as users spend 10 dollars to buy an insurance for a security, users spend 20 dollars to buy a copy of the insurance guarantee two. PPT701 is a combination of insurance. What is the combination of insurance? In some specific scenarios, we hope to provide users with a full range of security, and not just a risk guarantee. Technically, the policy passes can be any combination of PBT701 PPT501 and 502 single insurance products. PPT901 is a kind of insurance marketing, marketing and insurance marketing is more passes in the different levels in different sales channels, different scenes, different events, including the terms of insurance, insurance amount or channel rebate may be slightly different. Provide maintenance and configuration of insurance passes in each scene, is a very stupid behavior. The marketing of insurance certificate through PPT901 is a dynamic combination of allowed clause in the following special scene.

“Fly e” is the first landing on the insurance through card products, it actually has 8 terms, one of the main risks and 7 additional risk. Each clause is PPT501 in terms of single product, and every clause is based on Intelligent contract.

So we will realize the insurance assets, from the four latitude definition, user behavior, insurance products insurance business cooperation, audit supervision, insurance assets from the physical world to block chain map world. This is the certificate of insurance.

 Wu Xiaochuan: the blockchain Xiaoshan technology value lies in the products and services into the encryption of digital assets, low friction, no boundary circulation | P.O.D new potential Summit And what kind of insurance passes the value to our insurance business? According to the analysis of the traditional insurance system. In our traditional insurance system, in the face of massive, rich, high frequency, fragmentation of the scene, the existing system of insurance has some defects in the external coordination and ductility. Why are these defects? Because there is no uniform standard, there is the value of the assets and assets between the data and the business model of trust.

The insurance system passes transformation based on the system’s transfer card, transfer in chain alliance. At the same time, the standard of service by passes to the unified definition, authenticity of the value of the assets by the participants based on the blockchain consensus to prove, so the friction on the business boundary, cooperative transaction threshold, greatly reduced.

In the business environment, it often involves four aspects, the four aspects of the user, product, scene and supervision of mutual promotion and mutual influence. The insurance certificate for such a pass play what role?

Through the insurance card for users, to achieve unified management of insurance assets of the user. The insurance clauses and the claims process more transparent, user experience and Realization on the insurance trust enhance the protection of user data privacy. As for the products, on one hand it makes the maintenance, configuration, development and iterative products more flexible, on the other hand it through open data capacity, greatly enhance the ability of risk control and automation, and promote product innovation ability. For the scene, to better link existing scene at the same time, links to more new scenes, open data islands, innovation in the channel and the scene. As for the regulatory supervision, can achieve real-time, initiative and coordination, so as to ensure the compliance of business development.

Open data and data privacy protection are the second core values of our assets passes, we’ve also done a lot of relevant data privacy protection attempts, such as combining cryptography algorithm, homomorphic encryption and so on, in the way of sharing security based on the increase. And now this passes through evidence based on the theory of the binding data and block chain to prove. Because the card is owned by the user, so we based on the distributed user access control and user authorization, to better protect data.

Here we look at the application of open protocol assets in other areas, such as “step chicken” in this case, by forming a chicken to the farm, and then to the packaging and logistics, until the whole process of consumers, the circulation of all passes. In this platform, there are already more than 40 thousand chicken passes.

For the case of high-end consumer goods. The diamond for example, on this platform, the diamond from the inlet to the customs declaration, to drill in origin, to the hands of consumers, plus add financial activities, pawn, auction, storage, custody, a series of process of circulation are also passes, this platform has 1 million 450 thousand diamond passes, close to the value of 7 billion yuan.

To see a future scenario, hospitals and insurance claims of the scene, the user to buy insurance, and then to the hospital to see a doctor, pay first, after claims. We think such an experience, the same user to buy insurance, to go to the hospital, the hospital and the end user can associate the insurance side, in pay, direct docking by insurance companies and hospitals, this is not a better. But with the present technology can’t solve this problem, mainly because there is isolated between hospital data and policy data, considering the patient privacy and data leakage problems, who did not dare to move. It now has assets passes here, said by the user to both associated hospitals and insurance companies, which is equivalent to an active authorization process, we can see from the picture, a three passes of an insurance company, through the card also has a hospital, the two passes through binding user association, safe and reliable.

 Wu Xiaochuan: the blockchain Xiaoshan technology value lies in the products and services into the encryption of digital assets, low friction, no boundary circulation | P.O.D new potential Summit

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