Financial Supply Chain Platform for the Real Estate Industry
Real estate is the biggest industry in China. In the real estate supply chain, medium and small enterprises in upstream have difficulties in financing. Financial institutions take great efforts to ver …
|Financial Supply Chain Platform for the Real Estate Industry
|Baohua Yang (Principal Architect, Oracle Blockchain Platform, Oracle), Kai Wang (Founder & CEO, ENTROBUS)
|Hyperledger Global Forum
|Phoenix, AZ, USA
|Mar 2- 6, 2020
Real estate is the biggest industry in China. In the real estate supply chain, medium and small enterprises in upstream have difficulties in financing. Financial institutions take great efforts to verify the authenticity of information.Kai‘s team designed and implemented a financial supply chain platform for the real estate industry, named ENTROBUS blockchain. The prototype platform system ranked the 2nd in 2018 Alibaba Cloud Blockchain Competition among 600+ projects. After that, with one year’s system development and deployment, it is now a real-world platform with dozens of enterprise users. Country Garden is China’s leading largest residential property developer focusing on urbanization, which services as the core enterprise in the platform. Based on the core enterprise’s payment accreditation, it could break information asymmetry, reduce credit costs, and optimize capital allocation by credit transfer.With the core enterprise’ credit transfer, enterprises in the supply chain could enjoy low cost financial services, and improve competitive advantage. With blockchain techniques, the financial institutions could get first-hand information in the supply chain, which reduces the cost of risk control. It provides a platform for the financial institutions with end-to-end data traceability, confirmation and validation, and promotes the healthy and stable development of supply chain financial services.