Another AliPay
"Like Alipay's original intention of launching secured transactions, Truple is also to solve the problem of transaction trust. The difference is that due to the outstanding characteristics of blockchain technology in solving complex process trust, Truple better meets the needs of solving international trade trust. " Jiang, vice president of Ant Group and president of intelligent technology business group, said.
Specifically, on the Trusple platform, after the buyer and seller generate the transaction order, it will automatically go online and start to circulate, and the bank will automatically pay according to the payment terms agreed in the order, which avoids the situation that the seller needs to urge the buyer to transfer money offline in the traditional mode, and also prevents the frequent malicious delay in payment time. Buyers can also obtain financial services such as accounting period based on real orders in the chain, which greatly improves the utilization rate of funds and procurement efficiency.
For both buyers and sellers, every successful transaction on Trusple is the precipitation of "credit on the chain". When enterprises need financing, financial institutions can make verification requests to Trusple platform to determine the authenticity of enterprise transactions. In this way, on the one hand, the financial service risks of banks and other financial institutions are reduced, and at the same time, the survival and operation capabilities of small and medium-sized enterprises are revitalized.
It is understood that BNP Paribas, Citibank, DBS Bank, Deutsche Bank and Standard Chartered Bank have become the first partners of Trusple.
How complicated is the traditional trade financing business? The following is the flow chart of our letter of credit business:
As can be seen from the above, the traditional international trade financing model is not only complicated, but also banks have to charge high service fees. If there is a blockchain trade settlement platform and a trade settlement contract is developed, the exporter will directly put the advance payment into the smart contract. After the exporter's goods arrive at the destination and the system verifies that the documents are qualified, the smart contract will be triggered to lend money to the exporter. Not only the process is simple, the service cost is low, but more importantly, it can reduce the capital occupation cycle and improve the capital efficiency.
"At present, Trusple launched by Ant Group is like this, and the ant chain also supports smart contracts." Li Lianxuan said.
To sum up, traditional cross-border trade and Trusple are the differences between centralization and decentralization. In the traditional trade model, banks, as the center, provide trading credit or financing facilities for buyers and sellers to ensure the smooth progress of transactions, among which "credit" is the third-party credit of banks. The trust model of blockchain, its "credit" comes from the blockchain itself and does not require a third-party intermediary.
Faced with two major obstacles
The launch of Trusple has also realized a long-cherished wish of Ali since 19.
As early as 200 1, Alibaba B2B Company tried to solve the problem of mutual distrust between buyers and sellers in foreign trade transactions with a model similar to intermediate guarantee, but it failed due to the technical conditions at that time. Two years later, the emergence of Alipay solved the trust problem between C2C merchants and users. However, because the transaction between enterprises is much more complicated than that between individuals, and the payment method and logistics method are also very different, the plan before 19 has been put on hold so far. Until the blockchain appeared, it provided a new solution. Therefore, Ali called the launch of Trusple a heavy release comparable to the birth of Alipay.
It is worth noting that although Trusple is similar to Alipay in function, it aims to solve the trust problem between different subjects, but the solution idea is completely opposite. Trusple aims at eliminating intermediate links and disintermediation, and Alipay is the largest intermediary with 654.38 billion users. Trusple is only for B-end users in cross-border trade, so it is safe to use Alipay at present. Then if there are similar products in the domestic C2C e-commerce scene in the future, it means that Alipay will be killed.
Ali's blockchain layout
Blockchain is based on the characteristics of decentralization, openness and transparency, traceability of information, tamper resistance, and automatic execution of intelligent contracts, and naturally belongs to the weapon to solve the trust problem. As The Economist said: Blockchain will become a "trust machine". Therefore, Ma Yun said that Ali without blockchain would "die".
Ma Yun's words are not alarmist. Ali, who started as an e-commerce, Alipay played a key role in solving the trust problem of online transactions between consumers and businesses. It can be said that without Alipay, there would be no e-commerce empire in Ali today. Ant Group said in the IPO prospectus: "In the past ten years, we have continued to promote the construction of trust mechanism through technology and innovation."
To this end, as early as 20 15, Ali set up a blockchain team and began to invest in blockchain research and development. 20 17 10, ant financial (predecessor of ant group) released "basic strategy" (blockchain, artificial intelligence, security, internet of things, cloud computing). In July this year, on the eve of Ant Group's application for listing on the science and technology innovation board, the ant blockchain was officially upgraded to "ant chain". Ma Yun personally named the ant chain, which shows its position in Ali's ecology.
Today, Ali has landed more than 50 blockchain application scenarios. The ant chain can technically support the account scale of 654.38+billion, at the same time it can support the daily transaction volume of 654.38+billion, and realize the cross-chain information processing capability (PPS) of 654.38+billion per second.
In April this year, Ant's "Open Alliance Chain" was officially launched, fully opening its blockchain technology and application capabilities for small and medium-sized enterprises. Subsequently, the pace of relevant blockchain applications was further accelerated. In July, the ant chain integrated machine was released, which can save more than 90% of blockchain deployment time for government and enterprise developers; On September 18, a "three-piece set" of privacy security including data security computing hardware, 3D contract security services and data privacy computing services was opened to the public; Trusple will be released today.
In terms of research and development, Ali's blockchain patent application has ranked first in the world for four consecutive years, and its self-developed cross-chain technology is also recognized as an international standard.
According to the website of Shanghai Stock Exchange, the IPO of Ant Group Science and Technology Innovation Board has entered the stage of "submitting for registration". "After the listing, the most important thing for Ant Group is technical input. In the future, it will focus on research and development in five technical fields: artificial intelligence, risk management, security, blockchain, computing and technical infrastructure. " Hu Xiaoming, CEO of Ant Group, said.