id:BSN_2021
Public account: BSN Study Club
The real estate industry occupies an important position in my country's national economic system. In addition to land auctions and house construction, it also involves lease sales, financial bonds, home building materials, community life, etc., and plays a vital role in the stable and healthy development of the national economy.
On April 14, 2022, the BSN Institute invited Lin Dongcheng, a BSN qualified developer and general manager of E-House (China) Blockchain Science and Technology Innovation Center.
With the theme of "Application Sharing of E-House Blockchain in the Real Estate Field", Lin Dongcheng focused on the brief history of E-House Blockchain, the introduction of the EBaaS basic platform, and the analysis of the application scenarios of the real estate alliance chain (financial bonds, culture and art). It brought a wonderful sharing with industry users.
1. Introduction to E-House EBaaS
E-House China is a leading real estate industry chain service provider in China.
E-House EBaaS real estate alliance chain, independently developed by Tianji Network, a subsidiary of E-House (China), uses Hyperledger Fabic as the underlying technology. It is the first innovation in China to deeply integrate blockchain technology and vertically apply it to various segments of the real estate industry application platform.
Covering four major categories of businesses, real estate transactions, finance, data, and certificate deposits, it can provide enterprises with one-stop services such as blockchain solution consultation and guidance, alliance formation and management, technology development and integration, deployment, operation and maintenance, etc.
The first is program consultation and guidance. For the real estate industry, the blockchain is still relatively unfamiliar. Everyone doesn't know what value the blockchain has? How to use blockchain to empower business? In this regard, E-House Blockchain can provide professional consultation and guidance to complete the final product design.
About technology development and integration. In the process of project promotion, most of the business sections have their own technical teams and Internet platforms. E-House's main work here is to integrate the current traditional Internet platform with more alliance parties based on blockchain.
Regarding the formation and management of the alliance, the E-House blockchain belongs to the alliance chain, and cooperates by forming alliance parties into an alliance network.
Regarding deployment operation and maintenance, E-House blockchain provides deployment operation and maintenance services. It can help the business side realize the visual management interface of node management, digital certificate management, contract upgrade and other functions.
EBaaS product series
EBaaS products mainly include 3 series.
Series one is the EBaaS blockchain browser. It mainly solves the difficulty of terminal chaining; only one installation is required to obtain many applications; it can span all terminal systems such as mobile terminals and PC terminals.
The second series is the underlying service of the EBaaS blockchain. EBaaS is based on the Fabric framework; it provides Java, Golang, Nodejs and other multi-language development kits; it has a unified certificate system and integrated external services to realize trusted data on-chain.
Series three is the EBaaS alliance center. It can realize data perspective, node management, and full control of operations on the chain; it supports online alliance collaboration and management.
Basic platform - EBaaS platform architecture
Application case - panorama of real estate alliance chain
02. Application case (1) Bond trading alliance
Over the years, with the government's macro-control, the domestic financing channels of real estate developers have become increasingly tight. Many developers choose to issue corporate bonds in the Hong Kong market. Since these bonds are denominated in U.S. dollars, they are called Chinese dollar bonds. After these bonds were released through the Hong Kong bond market, many problems occurred in the trading process. Unlike the Shanghai Stock Exchange or the Shenzhen Stock Exchange, it lacks a centralized trading platform. There is only one bookkeeping center responsible for bookkeeping, not for listing, and it is impossible to check the current transaction status. Transactions between buyers and sellers are mostly conducted offline, which is inefficient.
Current status of Chinese dollar bond transactions
Chinese dollar bond account system
Description of the problems in the Chinese real estate dollar bond trading market
no single market
Scattered release of transaction information leads to lack of information and duplication of information, increasing the difficulty of matching and increasing transaction costs; the price is opaque, which breeds off-price commissions for brokerages and increases the cost of investors.
No transaction lock
False listings increase invalid inquiries and disrupt the price market; the transaction process requires secondary confirmation, reducing the transaction success rate and transaction efficiency.
Offline operation
Poor real-time performance, no valid vouchers retained; high cost of manual intervention, high error rate.
Bond trading chain product process
Bond trading chain product structure
In some scenarios with competitive and cooperative relationships, the centralized solution is not applicable. It has disadvantages such as unclear attribution, unequal data, and opaque rules. Here, by building an alliance chain, more efficient collaborative construction can be carried out. Collaborative development of all parties in the alliance chain, data equality, and democratic rules. China-funded real estate dollar bonds are such a case.
3. Application case (2) Artwork archive chain
Archives of artworks are of great value to artworks. But in terms of appearance, we may not be able to tell similar artworks apart. The humanistic story behind the artwork, including archival information such as the collection, auction, and creator of the artwork, is of great significance to the artwork itself.
Art industry pain points
Poor digital archive quality
Lack of unified digital archive standards; no high-quality image acquisition equipment; no full life cycle archive tracking.
It is difficult to confirm the ownership of collections
The current ownership of the collection is not clear; there is no credible transaction registration system; it is difficult to distinguish the authenticity of circulating artworks.
Poor market integrity system
Denial of the creator and number of creations; denial of the appraiser and collection history; many trading traps and lack of supervision.
alliance principle
The project positioning of the Art Archive Chain is "an archive database for the entire life cycle of artworks jointly built by the industry". Alliance principles include three.
joint endorsement
Alliance institutions jointly build industry archives; all parties in the alliance jointly endorse and mutually recognize data; alliance parties are responsible for their own on-chain data.
Institution on the chain
Only the alliance can edit art archive information; artwork historical archive data can also be uploaded to the chain; artist authorization data, user-read only.
CA certification
Participants need CA-level digital certification; data on the chain is signed with digital certificates; data authorization is oriented to CA digital certificates.
Affiliate Audience 
Business Process
data authorization
Authorization is the core of data privacy protection and utilization on the blockchain, and the artwork archive chain mainly includes three aspects of data authorization.
public inspection authorization
Authorization of data holders at all levels; presentation of the most extensive files without threshold; highlighting the endorsement of the entire alliance.
Federation Node Authorization
All data required by the business of all parties in the alliance is only for internal use and shall not be disclosed to the public without authorization; if there is a need for in-depth data use, a targeted authorization must be applied for.
Digital Certificate Directed Authorization
Directional authorization (revocable) for specific certificates and arbitrary fields; directional authorization in business scenarios such as transaction, display, and identification; authorization in personal scenarios such as sharing with friends and appreciation by famous experts.
product architecture
