The low-level technology platform and technical white paper of the insurance and delivery chain

Source: Internet
Author: User
This is a creation in Article, where the information may have evolved or changed.

2017-03-28 First Financial guarantee: Alliance chain success Verification will continue to explore blockchain support for high-frequency commercial transactions

March 28, the Shanghai Insurance Company jointly 9 insurance institutions successfully through the blockchain data trading technology verification . From function, performance, safety, operation and maintenance four dimensions verify the feasibility of the blockchain in the insurance credit, with the advantage of blockchain security, traceability and non-tamper, we are committed to solving the long-standing pain point and difficulty of the insurance in credit.

March 28, the Shanghai Guarantee exchange successfully through the Blockchain data trading technology verification.
This verification, a total of 9 insurance institutions to participate in, set up 10 nodes to form a small alliance chain, which each insurance institutions as a transaction and verification node, as the management node of the security exchange.

    • It is reported that the institutions involved in this technical verification include, Lujiazui Cathay Life Insurance Co., Ltd., Peking founder Life Insurance Company Limited, AIA Life Insurance Corporation, China Land Property Co., Ltd., Minsheng Life Insurance Co., Ltd., historical Belt Property Insurance Co., Ltd., Taiping Life Taiping Property Insurance Co., Ltd., Sunshine Life Insurance Company Limited.

During the verification process, 3 sets of mainstream blockchain framework were selected, and qualitative and quantitative tests were carried out on performance and safety .

    • Of these, 1 blockchain solutions are capable of processing up to 300 transactions per second (300TPS) in the cloud platform, which satisfies the performance requirements of the commercial system.
    • In terms of security, the data security requirements of the business transactions are ensured through the blockchain scheme of data storage encryption, encryption and licensing authorization.

Industry insiders said that the success of this technology verification, marked the blockchain technology in the practice of the insurance industry to take an important step, laid the insurance data sharing, data exchange, data security technology base, explore the intelligent, automated, convenient insurance transactions, to greatly reduce the cost of insurance transactions, Greatly improve the efficiency of insurance transactions. In particular, it is led by the industry infrastructure platform, which accelerates the process of China's insurance market modernization, and will lead the Chinese insurance industry to seize the commanding heights of global insurance innovation and compete for the discourse and pricing rights of the international insurance industry.

With the successful verification of blockchain data trading technology, the financial science and technology attributes of Shanghai Bao ' an institute are becoming more and more prominent, and the driving force of transformation and upgrading of the industry is gradually enhanced. At present, the Shanghai Securities and Exchange Institute is stepping up the construction of a suitable insurance industry blockchain technology platform, in the organization industry successfully through the data transaction verification, on the one hand, the convergence of internal and external institutions, the establishment of blockchain data Sharing Alliance, explore in the personal accident insurance, agents, fraud information inquiries and other aspects of the application, on the other hand, Continue to increase the depth and breadth of exploration, in the blockchain underlying technology and insurance claims and other application scenarios to carry out research and development work.

The head of the information technology Department of Shanghai Insurance exchange said that the blockchain system will be the starting point of the next development, to support the future of the insurance commercialization platform, the system adopts the way of cloud deployment, the initial realization of the node monitoring function, the overall integration of the Alliance chain node and the rights of the intelligent contract can be fully integrated and visualized configuration. In terms of performance, the blockchain system is currently based on the PBFT consensus algorithm to meet the requirements of low-frequency commercial transactions , and the next step will continue to explore the feasibility of high-frequency commercial transactions in blockchain technology support.

2017-09-01 Shanghai Insurance exchange Shanghai Bao ' an low-level technology platform and technical white paper released

September 1, 2017, the Shanghai Insurance exchange officially released the Blockchain Bottom technology platform (hereinafter referred to as "Chain of Guarantee"), which aims to provide the blockchain infrastructure for the whole industry insurance transaction, to build a stable, efficient and safe insurance trading environment, leading the industry scientific and technological progress and innovation development. Independent research and development of the first use of the Golang algorithm package, digital policy Certificate of the scenario support 50,000 per second policy fingerprint data on the chain processing of high concurrency processing capacity, support flexible configuration deployment mode, etc., so that the chain of insurance transactions? Settlement, anti-fraud and regulatory aspects show its high security, efficient operation, high-speed access and other advantages.

At the same time, the technical white paper on the bottom frame of the chain is also officially released, and it is committed to working with partners to create a new insurance business with high efficiency, low cost and security, and realize the win and gain ecology of the blockchain.

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Guarantee chain of the official on-line, directly hit the field of insurance trading information is not shared, information asymmetry, such as long-term pain point, leveraging financial technology to accelerate the industry's scientific and technological progress, reflecting the deep integration of financial science and technology and insurance, help to improve the efficiency of the insurance industry, tamping the cornerstone of the credit, accelerating financial innovation and product iteration Let insurance in a broader, deeper benefit to the masses and society, guide insurance return to the source of protection, promote the products and services of the insurance industry, to further serve the real economy, to prevent financial risks, promote the supply side of the insurance sector structural reform, to enhance our financial innovation capacity, It is of great significance to seize the discourse and leading power of international financial science and technology.

Independent research and development chain, crack insurance trading pain point

The use of asymmetric information fraud insurance, policyholders customer information loss is looted, pay less efficient pain points, long-term constraints on the health of the insurance industry development. In the context of financial innovation, how to use blockchain to improve the efficiency of insurance trade and guarantee the security of insurance transaction information has become the important task of Shanghai insurance Exchange.

After painstaking research and exploration, the Blockchain technology team has selected the open source base which is more in line with the insurance industry Alliance chain as the foundation of the transformation, at the same time determined the transformation of operation and maintenance monitoring, software development tools transformation, national secret algorithm transformation, and finally to create a can basically realize autonomous controllable, easy to upgrade, easy to develop, High performance chain of guarantee.

Unlike other blockchain chains, the chain of guarantee has notable features in security systems, flexible deployment, and application development:

    1. The chain has developed and loaded the Golang algorithm package supporting the national secret algorithm, and has carried on the validity and the safety test in cooperation with the Shanghai Jiaotong University password and the computer security laboratory, makes the chain of guarantee in the actual application will be more safe and controllable; Guarantee chain support international standard cipher algorithm, can meet the international business security requirements. In the early period, the Institute signed a framework cooperation agreement with the Shanghai Jiaotong University Code and computer Security laboratory, which is committed to creating a secure and reliable blockchain technology platform to promote the localization of cryptographic algorithms in the financial system.
    2. The chain node can implement the two deployment modes of on-premises and on-premise cloud platform hosting deployment according to Enterprise requirements, shorten the deployment cycle, reduce development cost and facilitate fast access for different types of organizations.
    3. The chain provides a convenient and efficient application development interface, through API Unified interface Service and functional separation standard development package (SDK), to meet the needs of developers in application development, system management and system operation, support the business scenario Agile development, rapid iteration.

In addition, the chain has four other features:

    1. First, regulatory audits. Supervise the CA configuration module to meet regulatory audit requirements and meet business party compliance requirements.
    2. Second, the performance is reliable. Performance optimization, configuration parameter adjustment and efficient application design can meet the requirements of enterprise-class application.
    3. Third, monitoring operation and maintenance. Perfect monitoring system real-time monitoring blocks, transactions, networks, CPU memory and storage, full attention to the blockchain network health status, to achieve the system layer and application layer real-time warning function.
      4. Four is the multi-chain architecture. The underlying architecture balance considers the system performance, security, reliability and expansibility, introduces the concept of "channel", realizes the data isolation and access control of different business, provides the rich intelligent contract template, the chain of guarantee can support the multi-chain operation of the bottom-level deployment.

Seven major features

Comprehensive seven characteristics of the chain of guarantee,

    • Through the service collection mechanism, form the identity authentication Service system, the consensus service system, the contract service system and the Platform service system and so on four service system;
    • Through the function common Tonghua, realizes the data security and the encryption and decryption support system, the application support system, the data exchange protocol support system and so on three big support system.

In terms of performance, has reached the level of enterprise application, in the development of operations and maintenance, has achieved rapid development, three-dimensional operation and maintenance, flexible deployment, further improve industry efficiency, reduce the cost of the industry, in terms of safety and security, to meet the security requirements of the national financial system, improve industry information security, consolidate the industry credit cornerstone; Regulatory Compliance Replace the traditional system supervision with technical supervision, meet the regulatory audit requirements and meet the compliance requirements of the business parties.
Support industry scientific and technological progress, promote industry transformation and upgrade
At the end of 2016, blockchain technology was first listed as "Thirteen-Five" National informatization planning. As a new, bottom-level IT technology, the blockchain, with its data storage consistency and cannot be tampered with, has built a network of asset transactions and value transfer between multiple parties without intermediary assistance, improving the efficiency of value interaction and reducing the cost. The emergence of "blockchain finance" is being used as the underlying framework to bring about disruptive changes to the entire financial system.
As an industry infrastructure and integrated services platform, since its inception in June 2016, Shanghai Securities and Exchange Institute has defined the "Science and Technology Office" approach, is committed to play the platform function, focus on internal and external resources, explore the blockchain in the first application of the insurance industry. On the basis of fully combining the actual needs of the insurance industry, the Guarantee Institute is fully committed to creating the "bond + blockchain" model, using financial technology to support the industry's innovation and development, and to build the insurance industry infrastructure.
The pattern has several prominent effects:

    1. One, to create a new pattern of interconnection and interoperability. Through the internal insurance industry, to realize the information sharing of trading resources, to open up the insurance industry upstream and downstream industrial chain, give full play to the role of the basic facilities, reduce insurance trade friction, improve transaction efficiency, reduce transaction risk.
    2. Second, the construction of the insurance industry trade to win the ecological. As an independent third-party platform, the insurance industry led by the company to promote the blockchain technology, through to some member units open source infrastructure, to achieve the integration of resources, save industry input costs, and work together to create a win-block chain of the ecosystem.
    3. Thirdly, rebuilding the foundation of insurance credit. As the National Insurance factor market approved by the State Council, the Nature has the authority of the industry, combined with the blockchain with the characteristics of de-centrality, openness, sharing, anonymity and non-tampering, can jointly tamp the cornerstone of insurance credit, establish the universal Credit system in a low cost, high efficiency and transparent way. Promote the development of financial inclusion.
    4. Support industry scientific and technological progress. In the spirit of cooperation and openness and service to the original intention of the insurance industry, the company will be based on the membership, the establishment of the insurance Industry Blockchain Alliance, jointly promote the application of the blockchain industry, accelerate the industry's scientific and technological progress; through cooperation with universities, accelerating the research and training of blockchain technology in insurance industry, To provide intellectual support for technological progress in the industry.

The company always adheres to the technology-driven innovation model, adheres to the market positioning of integrated service platform and industry infrastructure, and devotes to innovating the latest achievements of financial science and technology, and strives to build a centralized platform of innovative basic operation services. At present, the bottom of the blockchain technology platform, the development and release of the bottom framework technology white Paper, the digital policy and policy pledge registration two business scenarios have landed, follow-up will continue to work with the relevant insurance agencies to promote the landing of nine business scenarios, to provide support for the insurance industry to reduce efficiency.

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