Summary: On the basis of FISCO BCOS, WeBank has laid a comprehensive commercial map of block chain and upgraded from ” open source technology ” to “business scenario”.
The open source layout of WeBank’s block chain includes FISCO BCOS, the bottom platform of financial cascade alliance chain built by Fisco open source group, WeBASE, middle platform to connect with bottom block chain, WeIdentity, identity identification and reliable data solution, and WeEvent, a distributed event-driven architecture based on block chain.
At the first FinTech Day of WeBank, which just ended, Zhang Kaixiang, chief architect of WeBank’s Block Chain, said, “We have seen the development of Block Chain from technology to industry step by step. In 2019, we feel that we should develop a high-speed way to distributed commerce based on block chains. We should not only open code, but also open services, industries and platforms.
Ma Zhitao, Vice President and Chief Information Officer of WeBank, once said, “Distributed commerce is a new type of production relationship established by several business interest communities with equal status. It organizes and manages, divides functions, exchanges value, provides goods and services together and shares benefits through presupposed transparent rules.” In terms of the main characteristics of such new type of economic activities, distributed commerce shows multi-party participation, sharing resources, intelligent collaboration, value integration, transparent mode, across border and so on.
As an online bank without offline bases, WeBank’s daily business takes place in everybody’s daily life through Wechat, QQ and other Apps, which also determines that it is necessary to establish links with many partners. At FinTech Day, Ma Zhitao officially announced “Financial Science and Technology Full Open Source”, including AI, Block Chain, Distributed Architecture and Big Data. Besides, it also has formally proposed a “3O Banking Strategy”, namely Open Platform, Open Innovation and Open Collaboration.
“WeBank has launched a series of open source capabilities in the hope that it will become an implementation standard. Through the open source of scientific and technological, more people can use them and get feedback, such as which functions are not perfect, which need to be strengthened, which is beneficial to the WeBank’s further development. At the same time, once opened source technology becomes the industry’s implementation standard, the number of partners will dramatically increase. Furthermore, business opportunities will come. This is Ma’s important judgment on the future business model.
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