Recently, under the joint guidance of the Ministry of Industry and Information Technology, the People's Government of Hubei Province, and the China Machinery Industry Federation, and co-sponsored by the China Association of Automobile Manufacturers and the Wuhan Municipal People's Government, the 2022 China Auto Supply Chain Conference and the First China New Energy Intelligent Connected Vehicle Ecology The conference was held in Wuhan, Hubei. Among them, Lin Le, the founder and CEO of Lingshu Technology, was invited to attend the theme forum of "Industry and Finance Cooperation - Cultivating New Momentum for Auto Industry Upgrading" and delivered a speech.
The following is the transcript of the speech:
Blockchain empowers the digital circulation of assets in the automotive industry
1. Development background of digital technology and blockchain technology
Around 2010, the digital 2.0 era officially kicked off. Digital 1.0 is the digital migration of people. In a relatively independent digital world, a huge virtual business has been established, and Internet giants such as Google, Facebook, and BAT have been born. Digital 2.0 is the digital migration of the entire physical world, which is the prelude to a more magnificent digital migration of human beings.
We believe that Digital 2.0 consists of three general technologies: blockchain, Internet of Things, and artificial intelligence. In the digital 2.0 era, data is the means of production, the Internet of Things and artificial intelligence are production tools, and blockchain is the production relationship. Blockchain is the underlying operating system and upper-level management charter of the digital world. As a machine for creating trust, it will reshape the way the digital world collaborates. At the same time, the blockchain, combined with technologies such as the Internet of Things, promotes the mapping and efficient circulation of physical assets in the digital world in the era of digital migration, and realizes value interconnection.
Going back to the blockchain itself, all applications of the blockchain are composed of these three sentences . First, it is a distributed accounting system that forms a trusted digital environment. The second point is to combine the digitization of assets to form an efficient value circulation network. The third point, combined with smart contracts, forms a trusted collaborative environment. All blockchain applications are derived from these three points.
In the domestic market, enterprises' new demand for data sharing and circulation has created structural opportunities for the data service industry structure.
01
data sharing
The core of data service 1.0 is to solve the data storage needs of information systems under the background of informatization and business digitization. The core of Data Service 2.0 is to solve the internal data governance needs of large enterprises under the background of Internet and data capitalization. The core of Data Service 3.0 is to solve the cross-organizational demand for data element circulation under the background of industrial digitization, data elementization, and data value circulation ecology.
Lingshu Technology uses blockchain technology to ensure data credibility with its non-tamperable attributes, and uses digital identities and data storage certificates to clarify the ownership relationship, combined with data security and privacy protection applications such as privacy computing, to ensure that user data and analysis algorithms are available. It can be seen that through the blockchain network, the contribution of participants can be confirmed and the system of value distribution of data circulation can be reshaped.
02
circulation of assets
There are a large number of asset circulation needs in the financial or cultural fields. How efficiently finance can serve the real economy is determined by information flow, transaction flow, and cash flow. 1) For a large number of distributed assets, the cost of traditionally relying on people to make due diligence is very high. Now many equipment assets can be connected to the Internet of Things. The Internet of Things combined with the blockchain can manage assets in a penetrating manner and open up information flow. 2) The integrated feature of blockchain payment, clearing and settlement can greatly improve the efficiency of transaction confirmation and reduce transaction friction. 3) Automatically distribute cash flow through blockchain credible proof of work and smart contracts, reducing cash flow management costs. Therefore, with blockchain combined with a series of technologies such as the Internet of Things, information flow, transaction flow, and cash flow can quickly improve the efficiency of asset circulation, and finance will also become a very important application scenario for blockchain.
For asset-heavy fields, the assets of enterprises must be circulated, so that the industry can develop more rapidly and seize market opportunities. Especially for small and medium-sized innovative enterprises with insufficient credit but high-quality assets, whether it is the accounts receivable in their supply chain or the income rights of assets such as charging piles and parking plants, it is an ideal solution to the development dilemma of the industry. Therefore, the combined application of blockchain and some new technologies can effectively solve the problems of data sharing and asset circulation.
03
Collaboration mechanism
Since the introduction of the Internet in the 1990s, a large number of de-corporate processes have been accelerated. Didi drivers do not belong to Didi. The blockchain may further accelerate this process. Implement the governance mechanism, collaboration mechanism, and incentive mechanism through a trusted environment, and then change and reshape the production relationship, and then promote the reconstruction of many organizational relationships.
To sum up, we believe that in the process of digital economy or digital transformation, blockchain will play a mainstay role. Digital transformation is the utilization of data, so blockchain is the infrastructure for data interaction and an important infrastructure for digital transformation. The blockchain provides a highway for the circulation of data, and provides a trusted environment for various collaborations to occur, which in turn will reshape many collaboration mechanisms. Therefore, for data sharing, asset circulation, and mechanism reshaping, the blockchain will become the mainstay.
Lingshu Technology is a leading blockchain startup company. There are several characteristics, one is the leading technology. The second is a high degree of product standardization. Third, the platform-level service capability is strong. Fourth, the commercial landing ability is strong. Fifth, the in-depth recognition of the competent authorities. Sixth, it has rich landing scenarios and strong ability to sort out industry resources.
The technical side has super-high performance, fully autonomous and controllable code, supports dynamic scaling, and supports on-chain privacy protection and other advantages. At the same time, privacy computing is deployed in depth to promote the efficient circulation of assets. We have created a complete product line from the bottom layer and middle layer operating system to the application platform, serving government affairs, finance, automobiles, double carbon, culture, etc.
A large number of benchmark cases have been implemented on the scene side. Government affairs include new digital infrastructure, data interaction platforms, and data supervision platforms in some places in Shandong, Hainan, and Jiangsu; finance includes supply chain financial platforms, financial leasing platforms, and digital asset transactions. Platform-level Products; automobiles include automobile data blockchain platforms, testing data sharing platforms, etc.; dual carbons include comprehensive energy dual carbon management platforms, green asset registration and circulation networks, etc.; culture includes cultural art chains, digital asset service platforms, etc.
2. Blockchain empowers the digital circulation of assets in the automotive industry
The automotive field has two characteristics . The first feature is that the automobile should be the industry with the most complete informatization in all fields. Through data sharing, on the one hand, it can promote the development of intelligent network connections, supporting scenarios including unmanned driving and vehicle-road coordination; on the other hand, it can support the circulation of physical assets, including scenarios such as second-hand car transactions and green finance. Through the mining of data assets, the efficient circulation of physical assets can be promoted and financial problems can be solved.
The second feature is that the automobile industry has entered a new stage of development. With the progress of the automobile industry, the nature of automobile assets is also changing. The automobile industry has changed from manufacturing + product sales to manufacturing + asset operation. The scale of asset operations is gradually increasing, such as online car-hailing, charging piles, battery swap stations, parking lots, etc. Now that many vehicle and battery companies have entered the field of asset operations, they will inevitably face a problem. The matching of the model with the financial model of the manufacturing industry requires assets to be circulated through transfer of ownership or usufruct rights, which is a long-term and continuous management process. The blockchain combines privacy computing technology to create an infrastructure for data sharing and asset circulation, solve the trust problem of multi-party collaboration, and allow a large amount of assets in the automotive industry to circulate.
We think there are three types of assets in the automotive space. The first category is data assets, through direct trading data, mining the value of data, and using it for unmanned driving training, etc. The second category is physical assets, which improve the efficiency of physical asset evaluation through data interaction, and are used for the transaction of second-hand cars and new batteries. The third category is financial assets, which improve the efficiency of financial services through data interaction, and are used for financial leasing, supply chain finance, and automobile dual-carbon certification transactions. There are a lot of assets in these automotive fields, and the blockchain can make them flow very well.
Specifically. The first is the circulation of automobile data assets . The intelligent networked automobile big data blockchain platform cooperated by Lingshu Technology and the China Automobile Association shares three rights in the automobile field data through blockchain technology. The first is "the authenticity of shared data". Some time ago, the brakes of new energy vehicles failed. After the data was taken out, some people said that the data was falsified. If the blockchain is used, the authenticity can be confirmed by comparing it with the "fingerprint" of the data stored on the chain. The second is "ownership of shared data", which requires a large amount of data to train unmanned driving algorithms, and the blockchain can build a point-to-point data exchange network, which can realize transactions with data demanders without the data owner opening the database single piece of data. The third is "the right to use shared data". With the combination of blockchain and federated learning, the data owner does not need to provide the original data, but only needs to output the calculation results in the safe domain to the user, so that the data is available and invisible. Through this platform, the rights of the three aspects of data can be shared.
The second is the circulation of real automobile assets . For example, the most expensive asset in the field of electric vehicles is batteries. Opening up the recycling transaction of second-hand batteries will greatly reduce the entire manufacturing cost of the front end. If there is a system that can store the verifiable authenticity of battery data, its residual value can be quickly calculated through a series of standard algorithms, and credible data can improve the evaluation efficiency of used batteries, which will bring great benefits to the development of the electric vehicle industry. to significant benefits.
The third is the circulation of automobile financial assets . Taking supply chain finance as an example, the supply chain financial service model can be improved through blockchain. First, the entire chain is transparent and traceable. Financial institutions can know the authenticity of all trades in the supply chain, allowing trust to be passed from core enterprises to small and medium-sized end suppliers. Second, detachable digital certificates ensure the security of certificate circulation. , so that the most end small and medium-sized suppliers can also enjoy the preferential interest rate endorsed by the core enterprise; third, it can strengthen the collaborative management of the supply chain, strengthen the chain and supplement the chain.
The fourth is the generation and circulation of carbon assets . A large amount of carbon emission reductions generated by new energy vehicles can form carbon assets. The generation of carbon assets is the calculation process of data. In addition, there are many participants in the traditional authentication method, data is difficult to obtain, and it is easy to falsify and difficult to trace. responsibility. The blockchain is combined with the Internet of Things, and the data is measured and uploaded to the chain in real time. Through the transparent calculation process of the smart contract, carbon assets can be generated efficiently and transparently. Carbon assets can be circulated after being digitally registered in the blockchain, and green contributions are encouraged fairly and equitably. Blockchain + carbon assets are very effective not only for the automotive industry, but also for green development in many fields such as energy and construction.
Finally, the application of digitized trading of income right assets. A digital asset trading platform cooperating between Lingshu Technology and China Electronics (CEC). Through blockchain technology, the confirmation, registration and certificate issuance of digital assets on the chain are realized, and the efficient circulation of digital assets is realized through a centralized trading platform. In this way, an innovative system is formed to allow a large number of scattered distributed assets to truly circulate. This is a very interesting thing. Whether it is new energy or new energy vehicles, there are a lot of scattered assets. It is very meaningful to circulate these assets. Distributed asset circulation is supported through the blockchain, allowing digital assets to circulate. In addition, it can also produce cultural and artistic products, as well as battery banks, etc., forming a complete closed-loop system of data, assets, and finance.
To sum up, Lingshu Technology hopes to contribute our strength to the automotive industry and be a provider of data sharing and asset circulation infrastructure in the automotive field.