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October 18, 2019
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Blockchain

Wanxiang Blockchain and PlatON Launch Consortium Blockchain Infrastructure in China

Non-profit analysis establishment specializing in blockchain expertise Wanxiang Blockchain, and PlatON, the pioneering international privacy-preserving computing community introduced the launch of an open-source consortium blockchain infrastructure, PlatONE.

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Yu Cheng, General Manager for Digital Insurance Innovation at Minsheng Life Insurance stated:

“For years, Minsheng Life Insurance has invested in blockchain and big data solutions in the hopes of bringing greater digitalisation to the insurance sector. With PlatONE, we have been able to see the benefits to be reaped from blockchain, especially when coupled with privacy-preserving technologies. Now having seen the limitations of legacy centralised insurance solutions, we look forward to continuing our collaboration with PlatONE in order to enable progressive digital solutions for the insurance industry.”

PlatONE addresses the prevailing inadequacies in at this time’s blockchain infrastructures and supplies better safety, scalability, and privateness for information delicate industries trying to acquire the advantages of blockchain. With its emphasis on privacy-preserving computing and environment friendly, optimised consensus, PlatONE is a next-generation infrastructure designed with the wants of enterprises in thoughts.

PlatONE contains a number of user-friendly options comparable to one-click contract information migration and a contract naming service (CNS). Along with with easy-to-use toolchains and elements, in addition to optimised user-permission fashions, the open-source infrastructure may be tailor-made to quite a lot of use instances and utility situations. In order to make sure that the community is compliant with native information privateness necessities, PlatON leverages a bunch of cryptographic algorithms and privacy-preserving computing. PlatONE supplies a mature ecosystem for blockchain utility and improvement, permitting builders to simply migrate and create expertise stacks for the broader consortium ecosystem.

Ada Xiao, Chief Strategy Officer of PlatON stated:

“From the Linux Foundation’s Hyperledger Project to R3’s Corda, the ongoing rise of consortium blockchain solutions has provided a viable starting point for enterprises looking to experiment with distributed ledger technology. These platforms have allowed companies to significantly improve their business processes and internal operations within a secure, efficient environment. PlatONE looks to take this a step further, allowing companies to leverage both a decentralised network structure but also access easy-to-use toolsets that will allow them to implement, operate, and maintain blockchain-based solutions throughout the entire lifecycle of their businesses.”

PlatONE has additionally onboarded Minsheng Life Insurance, as certainly one of its companions. Minsheng is named certainly one of China’s largest insurance coverage firms with over 40,000 workers and 25 provincial-level subsidiary firms throughout the nation. By leveraging on PlatONE’s infrastructure, Minsheng has developed a collection of decentralised functions, together with an inner digital insurance coverage record-keeping system, in addition to an unspent transaction output (UTXO) mannequin. Minsheng has additionally established 4 collaborative nodes based mostly on PlatONE and has deployed rigorous information safety measures with PlatONE’s privacy-preserving applied sciences.

To date, PlatONE has efficiently executed proofs-of-concept (POCs) throughout utility situations starting from provide chain finance, anti-counterfeiting and traceability, factors administration, fairness registration, logistics, and asset administration for charitable trusts. Most notably, a provide chain monetary platform constructed on PlatONE has efficiently attained 56 collaborating firms from the expertise and banking sector, with financing estimated in the tens of tens of millions.

About Richard Kastelein

Founder and writer of business publication Blockchain News (EST 2015), a companion at ICO companies collective Token.Agency ($750m+ and 90+ ICOs and STOs), director of training firm Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning writer, innovation government and entrepreneur. He sits on the advisory boards of some two dozen Blockchain startups and has written over 1500 articles on Blockchain expertise and startups at Blockchain News and has additionally revealed pioneering articles on ICOs in Harvard Business Review and Venturebeat. Irish Tech News put him in the highest 10 Token Architects in Europe.

Kastelein has an Ad Honorem – Honorary Ph.D. and is Chair Professor of Blockchain at China’s first Blockchain University in Nanchang on the Jiangxi Ahead Institute of Software and Technology. In 2018 he was invited to and attended University of Oxford’s Saïd Business School for Business Automation four.zero programme.  Over a half a decade expertise judging and rewarding some 1000+ innovation tasks as an EU knowledgeable for the European Commission’s SME Instrument programme as a startup assessor and as a startup decide for the UK authorities’s Innovate UK division.

Kastelein has spoken (keynotes & panels) on Blockchain expertise in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London (5x), Manchester, Minsk, Nairobi, Nanchang, Prague, San Mateo, San Francisco, Santa Clara (2x), Shanghai, Singapore (3x), Tel Aviv, Utrecht, Venice, Visakhapatnam, Zwolle and Zurich.

He is a Canadian (Dutch/Irish/English/Métis) whose writing profession has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He’s written often for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com, and his work and concepts have been translated into Dutch, Greek, Polish, German and French. A journalist by commerce, an entrepreneur and adventurer at coronary heart, Kastelein’s skilled profession has ranged from political publishing to TV expertise, boatbuilding to judging startups, skippering yachts to advertising and marketing and extra as he is travelled for almost 30 years as a Canadian expatriate residing world wide. In his 20s, he sailed world wide on small yachts and wrote a sequence of journey articles known as, ‘The Hitchhiker’s Guide to the Seas’ travelling by hitching rides on yachts (1989) in main journey and yachting publications. He at the moment lives in Groningen, Netherlands the place he is elevating three teenage daughters along with his spouse and crusing companion, Wieke Beenen.

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