Scenarios
Alibaba Cloud BaaS can be applied to multiple business scenarios, such as product traceability, data asset transactions, supply chain financing, digital content ownership, charity, letters of credit, asset securitization, asset custody, energy and chemical trading, real estate transactions and leasing, and digital identity. The following three scenarios are taken as examples:
Scenario one: product traceability
In conventional retail scenarios, consumer and supply chain information is not traceable. When a product quality or safety issue occurs, it is difficult to trace and recall the product, or locate the responsible party. At the same time, the supply chain information is at risk of counterfeiting and tampering.
Alibaba Cloud BaaS provides a tamper-resistant shared transaction history. This service supports querying and auditing by consumers. At the same time, the blockchain ensures that the source information is confirmed by all participants and the information cannot be tampered with. The entire transaction history on the blockchain can be audited to meet policy and regulatory requirements. The blockchain can be combined with anti-counterfeiting and digital technologies to provide a complete set of traceability solutions for multiple commodities.
Scenario two: supply chain financing
In conventional transactions, the credit of enterprises cannot be shared securely among key enterprises and suppliers up and down the supply chain. As a result, it is very difficult and inefficient for small and medium-sized enterprises (SMEs) to secure funding. Supply chain information cannot be shared securely. This causes funding inefficiencies. For example, poor instrument negotiation causes long settlement periods.
In Alibaba Cloud BaaS, information of the key enterprises, such as receivables and payables, can be shared securely among suppliers, dealers, and financial institutions. The blockchain service can protect private data while sharing the transaction data among enterprises. In addition, the smart contract supports automatic fund clearing and the circulation of corporate bonds, to improve business operations and the efficiency of capital flow.
Scenario three: mutual insurance
This model is based on a certain group of people forming an insurance risk pool and support each other without a trust center. In this case, it is especially important that how to make sure the usage of insurance funds is financially fair and reasonable.
With the blockchain techniques establishing the flow of funds, transparency and trust within the loosely affiliated group are enhanced, which builds a better future for this insurance model. BLockchain also provides a tamper-proof information disclosure which leads to better self-regulation, improves system availability and reduces management cost.
