| The name of the base system (platform): | Projects based on blockchain technology |
| Developers: | Ping An |
| Date of the premiere of the system: | January, 2020 |
| Branches: | Information technologies |
2019: Start
At the beginning of January, 2020 the Chinese province of Guangdong started a blockchain platform for financing of the small and medium enterprises. Passes a new solution under the name Guangdong Provincial Small and Medium Enterprise Financing Platform credit analysis and assessment of the companies that in turn should accelerate and simplify crediting process.
The platform was developed with the assistance of OneConnect, subsidiary company of the Chinese insurance giant Ping An. Industrial Commerce Bank of China, China Construction Bank and Ping An Bank loans through the platform to three local startups already began to be issued. In day of start of technology through it the credits for total amount of $160.6 thousand were processed.
The blockchain platform provides access to detailed information on small and medium business on all province and also displays credit rating of the organizations which is formed on the basis of financial and administrative data from 26 government departments. The chairman and the chief executive officer of OneConnect E Ye Wangchun explained that "by cross validation of data from state bodies the platform estimates authenticity of the data provided by the company and its solvency". It accelerates process of approval and a design of the credit.
It is known that the blockchain platform is connected to 129 banks. For receiving a loan of the enterprise should submit to bank reports on the trading activity, and that, in turn, will provide a wide choice from 319 financial products, including direct and indirect financing and also financing of a supply chain.
The director of Bureau of financial control and management of the Province of Guangdong He Xiaojun (He Xiaojun) told that in 2020 the blockchain platform should service up to 300,000 clients, and by the end of the 2022nd it should cover up to 1 million small enterprises.[1]
Notes
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