Yu Xuemai: Sharing the trustworthy Internet infrastructure with bank staffs from Yaan City

Today,  vistors from the people’s Bank branch in Ya’an City and Finance Association of Ya’an have a banking training class in Hangzhou, which is organized by Zhejiang University. Shuqin Tech and Shuniu Tech entertained 70 staffs from banks and financial institutes together. During the training, the co-founder Yue Xuemai of Baoquan introduced Blockchain, and the development background of the trustworthy Internet infrastructure, as well as the technical character and application value.

 Yu Xuemai started from the origin of Blockchain technology, and the rich value of Bitcoin. He quoted the topic of the four assets beating HKNPL machine, for the past 30 years, the circulation growth of M2 has over 280 times, and the annual compound growth rate has reached 21%. However, from the first transaction price in August,2010,  it has up to 30 thousand times, discount for the growth rate of 20% to 30% for the nearly 30 years. And only in the past two years, the currency price also rose nearly 10 times. Meanwhile, the supporting infrastructure for the myth of wealth is the underlying technology—— Blockchain.

Blockchain technology was first applied in Banks, to solve the accounting issues by blockchain technology. For the traditional ledger of bank, data auditing requires a lot of manpower for the repeated reconciliations, and customers can only rely on the bank account, the centralized operation, so as to the problems of user account. However, the sharing ledger based on Blockchain technology, is a distributed ledger, just need to find any network node can be verified, and the accounting right in the network would be assigned randomly.

As for a Zhejiang local blockchain enterprise, Shuqin is devoting to solve the practical problem by blockchain technology with the core business on the financial service. Baoquan.com as the first product in electronic data attestation, applied the distributed and decentralized characteristics of blockchian technology to provide the one-stop service for enterprises and personal. Big data exchange centre as the core project, using blockchain technology to ensure the authenticity and safety of data sources, and achieve the transparency of chain-trading, then to realize the goal of real-time traceability for the data sources and trading information.