Balancing Security and Development with Blockchain
Different from traditional credit information, "Yangtze River Delta Credit Information Chain" mainly uses substitute data to describe the credit status of enterprises. According to the definition of the World Bank, data other than lending information are collectively referred to as substitute data. Practice in recent years has proved that the substitute data, as a supplement to the loan credit data, can well describe the credit status of enterprises, and its potential commercial value is gradually being reflected.
According to the group standard of Yangtze River Delta Credit Information Chain Credit Information Integration Service Specification, the credit report mainly includes 29 items of information, such as basic information of industry and commerce, information of shareholders, information of directors, supervisors and senior managers, information of social security accumulation fund deposit, main information of balance sheet, main information of income statement, main financial indicators, tax payment information, customs import and export information and water and electricity payment information. With these optional data, banks can understand enterprises more clearly and comprehensively, and then make a judgment on whether to grant credit, especially for first-time borrowers and credit "white households" who lack loan information. Multi-dimensional alternative data can better improve the risk control ability of banks.
Compared with the traditional lending information, multi-dimensional alternative data can reflect the related contents of the enterprise, such as the continuing business behavior, legal person, actual controller, etc., and depict small and micro enterprises in more dimensions, which is more complete and clear. Through the in-depth description of the leading label of default, industry indicators, business changes, legal persons, executives, etc., it helps financial institutions to make early warning and reduce risks and costs.
So, how to ensure the security of uplink data? Yin Guimei introduced that blockchain technology is a pure digital encryption technology. Each data source unit can only store the data summary value in the chain, and the original data is still kept in the data source unit, so the inquirer can query the required data without accessing the original data, which solves the concerns of the information source unit and reduces the difficulty of information collection.
On this issue, almost all the interviewees said that how to make data flow in the "chain" in compliance and safety and ensure the safety of data information is the lifeline of the "Yangtze River Delta Credit Information Chain" platform. "Suzhou Enterprise Credit Information, as the main preparatory organization of the Yangtze River Delta credit information chain, received the task of the People's Bank of China to use blockchain technology to carry out pilot applications in the credit information field in June 5438 +2020 10. With the guidance and help of the People's Bank of China and local governments, the R&D laboratory of the Yangtze River Delta Credit Information Chain was established. " Yao Kang said that the "Yangtze River Delta Credit Information Chain" takes the units that provide this information as the upstream management of business nodes, realizes interconnection and intercommunication on the basis of fully ensuring data security and reliability, expands the dimension of credit information data, provides a complete portrait for small and micro enterprises, and further provides better basic conditions for promoting the innovation and development of inclusive finance.
Explore marketization and tap the potential of data resources
Credit reporting agencies are also optimistic about this blue ocean of business. "At present, the service of the Yangtze River Delta credit information chain is financial infrastructure, and these basic services should be public welfare." Deng Zhongwei, deputy general manager of Shanghai Weicheng Enterprise Credit Information Co., Ltd. said, "But in the future, we will definitely explore the market-oriented development path and find a sustainable development model. At this stage, the' Yangtze River Delta Credit Information Chain' is still in its infancy, including data accumulation and * * * enjoyment mode. "
Deng Zhongwei introduced that as a financial infrastructure, the "Yangtze River Delta Credit Information Chain" has been built and played a positive role, but it still faces challenges in terms of the richness, quality and application of upstream data. He said that at present, the data content of each chain is highly repetitive, and there are differences in the collection and cleaning of core data such as taxation, provident fund and social security. At the application level, the inquiry method of credit report is mainly used to assist decision-making at present. However, in deep application scenarios such as online product development and post-loan management of commercial banks, it is necessary to break through many bottlenecks such as data line authorization, data line call and data quality control.
Looking forward to the market-oriented development in the next step, Xie Jie made suggestions on the development of the "Yangtze River Delta Credit Information Chain" in terms of data, products and services. For example, at the data level, it is suggested to gradually promote the market-oriented operation mode, so that more enterprises with compliance data are willing to join, meet the actual scene needs of chain financial institutions, and quickly establish a service ecosystem; At the product level, it is suggested that the supply and demand sides "pair up", strengthen the discussion and application of the scheme, encourage the first try, explore the model suitable for the "Yangtze River Delta credit chain" and develop credit products with credit chain characteristics.
"Operator characteristic data can be added to the credit information chain to help financial institutions grasp the credit information of enterprises in an all-round and multi-dimensional way." Xie Jie suggested. According to him, Tianyi Credit Information can rely on its parent company China Telecom to mine and apply its own supply chain data. "For the first time, we put forward the concept of supply chain credit reporting to integrate and supplement existing public data and form new capabilities. In the future, we will better provide inclusive finance services for SMEs through cooperation with online financial institutions. " He said.
"The platform has achieved good results with the support and supervision of the People's Bank of China and the public welfare orientation of various credit reporting agencies. In the next step, we can combine the operating conditions of the credit chain platform to carry out effective and reasonable market-oriented operations so that the platform can continue to develop healthily. " Deng Zhongwei said, "All lines and departments of the Bank have contacted a large number of data service providers in their actual business development. The next step is to conduct market-oriented exploration, strengthen exploration on the basis of existing data, emphasize the authenticity, accuracy, timeliness and particularity of data, and improve the added value of data mining and model processing. "
In addition, some institutions suggest using blockchain smart contracts to schedule privacy computing tasks to meet the intelligence, credibility and stability of application-layer services, and finally form a sustainable business ecosystem among credit chain participants.