Abstract : This is a thorough open source. Since it has chosen collaborative business model, it is necessary to use distributed means to solve the problem.
After four years of crouching, WeBank officially announced its blockchain open source layout.
This layout includes FISCO BCOS, the underlying platform of the financial-level alliance chain jointly created by Financial Blockchain Shenzhen Consortium; WeBASE, the underlying blockchain middleware platform; WeIdentity, the entity identity and trusted data solution; and WeEvent , the blockchain-based distributed event-driven architecture.
A year ago, the head of the blockchain business of WeBank conducted an exclusive interview with ChainDD At that time, WeBank emphasized the open source in the underlying code, pointing out that the alliance chain should not “enclose and build alliance itself”. At that time, WeBank has become the first “big factory” in the industry to realize the complete open source of blockchain technology. ".
Over the past year, WeBank has launched a commercial map of the blockchain based on FISCO BCOS, realizing the upgrade from “technical open source” to “commercial scene”.
At the first FinTech Day (financial technology open day) of WeBank, Zhang Kaixiang, the chief architect of WeBank blockchain said, "We have seen the steady development of the blockchain from technology to industry year by year. In 2019, we felt that we should open up a high-speed channel based on blockchain to distributed commerce. We are not only open to code, but also open services, industries and platforms."
WeBank believes in "collaborative business"
WeBank first proposed the concept of “collaborative business” in early 2017. As an online bank with no offline outlets, WeBank's daily business needs to connect to everyone's daily life through apps such as WeChat and QQ, which also determines that it is necessary to establish links with many partners.
On this FinTech Day, the company officially announced that “financial technology is fully open sourced”, including AI, blockchain, distributed architecture, big data, and officially proposed “3O open banking strategy”, namely Open Platform, Open Innovation and Open Collaboration.
“WeBank has launched a series of open source capabilities, and hopes that it can become an implementation standard. By opening up the technology capabilities, it will let more people use and get feedback, such as which features are not perfect and which need to be strengthened, which will benefit the business development of the bank.
At the same time, once the open source technology becomes the implementation standard of the industry, the partners will become a lot and the business opportunities will come." This is Henry Ma's important judgment on the future business model.
The data shows that WeBank achieved revenue of 10.03 billion yuan in 2018, and total IT investment accounted for 14.8% of revenue. In the global banking and financial services industry, the average ratio of IT investment to revenue is 7.3%. WeBank's IT staff constituted 54% of the total employees, while listed banks accounted for between 1% and 8%.
Blockchain provokes "open source" girders
In the entire open source architecture of WeBank, blockchain technology supports the “open innovation” strategy in the “3O” open banking system.
Since the blockchain itself is a distributed ledger, it acts better as a "connector". WeBank chooses to believe in distributed commerce, and naturally chooses to trust blockchain technology.
At present, there are hundreds of applications based on FISCO BCOS, and dozens of them are put into production. The application scenarios are distributed in the fields of copyright, justice, finance, government affairs, and Internet of Things. In this process, FISCO BCOS also achieved the concurrent speed of single-chain 10000TPS.
“When the test team told me that our performance really reached 10,000 TPS, I was very happy. I sent the team the biggest red envelope in my life on WeChat.” said Zhang Kaixiang, chief architect of WeBank Blockchain. In his view, this is a milestone event, and it also shows that the speed of the blockchain is no longer a problem.
Open source cooperation
"Open source" is the foundation of WeBank's "collaborative business" ."Open source" is not just open source on the technical level, but also between regions. Shenzhen-based WeBank is trying to connect Guangdong, Hong Kong and Macau with the concept of “collaborative business”.
WeBank told to ChainDD that although Guangdong, Hong Kong and Macao are geographically closely linked, the economic activities and social activities between them are complicated. Therefore, it shows the characteristics of “overall development and great difference”. In this context, blockchain technology will be very promising on this soil. At present, WeBank has cooperated with the Macau government to develop smart city infrastructure using blockchain solutions.