Is It Difficult To Implement Blockchain Technology? Higgs Block Has Begun To Improve Its Multi-scenario Application Capabilities

Blockchain is almost crazy these days. Critics consider it synonymous with bubbles, while supporters hail it as the fourth technological revolution.

Before the introduction of blockchain technology, the Internet of Vehicles industry faced problems such as data security, narrow coverage, and limited monetization. Use blockchain technology to build new data transactions that directly benefit all participants. This is also Higgs Block’s exploration of blockchain technology serving the development of the real economy.

On May 26, the 2018 China International Big Data Industry Expo (hereinafter referred to as: 2018 Big Data Expo) was held in Guiyang. With the global economic development boom led by digital technology, blockchain has become one of the themes of exhibitions and forums.

At the opening ceremony of the Digital Expo, Liang Lihua, director of the Information Administration Bureau of the Central Cyberspace Administration of China, said in his speech: "According to the World Economic Forum survey report, by 2025, 10% of the global GDP of relevant information will be stored using blockchain technology. The development and application prospects of blockchain are worth looking forward to."

In the opinion of many people in the industry, the non-replicable and non-tamperable characteristics of blockchain and its trust-based community mechanism have easily solved many problems that the Internet in the pre-blockchain era could not overcome and solve. This also reflects the role of blockchain as a new technology. The value of technology.

The number of front-end users of the smart car chain platform has reached one million

In recent years, a number of blockchain application scenarios and technologies that are closely related to people's lives have emerged in fields such as the Internet of Vehicles and supply chain finance.

At the 2018 Digital Expo, a platform called Smart Car Chain (SCC for short) attracted the attention of many exhibitors.

According to on-site information, the smart car chain is one of the first smart car chain platforms based on blockchain technology. It is led by the Singapore Internet of Vehicles Fund and jointly built by Higgs Block Company and Jitu. The platform built based on Higgs Chain heterogeneous blockchain technology consists of vehicle OBD intelligent terminals, data providers, data platform companies, data users and other major links. In terms of data providers, the platform will cover car manufacturers, 4S stores, Internet of Vehicles companies, LBS manufacturers, etc., integrating the entire process data of cars from factory to scrap; in terms of data users, the platform will include e-commerce companies. Platforms, auto finance and many other automotive aftermarket service providers, as well as government agencies such as traffic management and urban construction.

The data on the chain comes from special equipment for vehicle data collection, which not only ensures the authenticity of the source data, but also accurately records the vehicle driving data. With the authorization of the car owner, relevant data can be uploaded to the smart car chain platform in real time.

It was further learned that the technical core of the entire platform is Higgs Chain, a heterogeneous blockchain network based on a trusted blockchain system and a public chain system. Compared with other blockchains, the heterogeneous attributes of Higgs Chain enable it to have characteristics such as data immutability, privacy protection, real-time performance, and smart contracts, as well as efficient performance, hierarchical isolation, ledger optimization, and ecological sharing. Treatment Features.

At present, Higgs Chain has obtained more than 20 core invention patents, has 100% independent intellectual property rights and a unique consensus algorithm, and has gradually built its own technical barriers.

Li Guining, chief technology officer of Higgs Block Company, said that the data processed by the smart car chain will form valuable data and be provided to third parties for paid use. Car owners who provide data will receive corresponding rewards. “This approach both collects more valuable data and benefits those who provide the data.”

Relevant staff of the smart car chain platform said: "Currently, the number of front-end smart end users of the platform (mainly private cars and fleets) has exceeded one million. In terms of automobile manufacturers, we are cooperating with JAC and BAIC is waiting for cooperation with manufacturers. , and plans to introduce more partners.”

The staff member further said: "Due to the use of blockchain as the basic technical facility, the smart car chain can truly realize that the value of big data is in the hands of the data owner: the data is owned by individual car owners or institutions. All are processed through their respective public keys. Processed. Encrypted, other individuals and institutions cannot infringe data ownership; During the data access process, smart contracts can also be used to stipulate whether a certain data needs to be authorized by its owner to access, and the data accessor should report to its owner Pay as much as you want. Only then can you use it.”

Blockchain technology is difficult to implement, and the scenarios it can currently solve are limited.

In recent years, there have been a variety of scenarios and areas where blockchain technology has been implemented. Li Guining also expressed frustration with the many difficulties faced by blockchain in its implementation.

In Li Guining's view, different businesses have different performance requirements, business roles have different consensus permissions, business data has different dissemination scopes, and business operations go through different stages and processes. "This has resulted in hundreds of blockchains on the market." The underlying technology is difficult to implement, and it is difficult for most real economy businesses to run on the blockchain. "

Taking the example of providing blockchain solutions for the cross-border letter of credit business of foreign-funded banks, Li Guining said that first of all, the letter of credit business involves multiple banks, transnational logistics units and trading units. Whether it is true and valid, and whether it has strong commercial attributes cannot be completed solely by relying on relevant consensus protocols; Secondly, this business has confidentiality requirements, and most business data is not suitable for widespread dissemination to all business participants; Thirdly, decentralization There are conflicting needs between business models and KYC (Know Your Customer).

In addition, as far as on-chain data is concerned, the blockchain cannot accurately determine the authenticity of these data. “I have always believed that blockchain technology can only solve the problem of fidelity, but not the problem of anti-counterfeiting. That is to say, for the data on the chain, blockchain technology can guarantee that it cannot be tampered with, but it does not guarantee that it is absolutely authentic. Data." Li Guining said, "The authenticity of the data on the chain should be solved through IOT (Internet of Things), not the blockchain."

Although there are still many difficulties in the implementation of blockchain technology, there is no doubt that blockchain has entered a prairie fire in China. How to expand the application scenarios and fields of blockchain is a long-term task with a long way to go.

"The heterogeneous blockchain network Higgs Chain connects the real world and the blockchain world, which is conducive to realizing the multi-scenario application of blockchain technology, thereby better serving the development of the real economy." Li Guining said, Higgs Chain Already implemented in financial supervision, data sharing, Internet of Vehicles, etc., blockchain technology is currently being actively promoted in multiple scenarios such as Internet finance, banking, insurance, supply chain finance, clearing and settlement, etc. Settlement center.

In terms of financial supervision, Li Guining said: "At present, our financial supervision sandbox project has realized the supervision of capital flows. Next, we are ready to put the enterprise's information flow on the chain and realize the transformation from ex-post supervision to ex-ante supervision. "

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