Yesterday Beijing’s municipal government printed a “Blue Ebook” about blockchain functions in authorities providers. It claims that to date, 140 totally different authorities providers have been carried out with a median 40% useful resource discount.
The ebook went on to stipulate 12 particular use instances that had been carried out. We suspect that a few of these use instances may replicate quite a few providers. For instance, a licensing platform can be utilized for greater than a dozen kinds of licensing comparable to drivers, id, enterprise, marriage, loss of life, and so forth. And most of them are fairly new.
The primary use case is the Municipal Commerce Bureau Airport International Logistics Blockchain Platform. The undertaking focuses on customs clearance, which typically requires a number of organizations and authorities departments to share information, which makes a superb blockchain match.
Corporations are cautious about sharing industrial information and the method is error inclined. The privateness enabled resolution places a lot of the related paperwork on the blockchain, together with worldwide port clearance, the commerce paperwork, logistics information, customs clearance and tax information.
It permits customers to question information such because the manifest, cargo logistics and inspection, and export tax refunds. Between March and Could, 121 firms used the platform and saved three million items of knowledge.
One other comparable undertaking is the Beijing-Tianjin-Hebei Customs Clearance resolution involving the Tianjin and Hebei transport ports for a Single Window system. Though some facets are nonetheless in improvement, to date, the platform has gathered 23968 customs declarations.
A 3rd resolution is a blockchain shared eKYC (know your buyer) resolution, additionally known as enterprise id and authentication system, which was launched in March 2020. It goals to chop down the necessity for a corporation to go to a financial institution to open an account and supply quite a few items of paperwork. If one thing’s lacking, a number of financial institution visits could also be wanted.
As a substitute, if the information is on the blockchain, the corporate can authorize it to be shared with one other financial institution. The regulators even have a supervisory node. The platform continues to be on the pilot stage with three banks.
The following resolution is electronic invoicing. This permits the bill to be shared, but additionally permits oversight by the municipality. Three examples in Beijing are invoices for medical care, public welfare donations and schooling. Within the case of medical bills, by offering an digital bill, the affected person doesn’t must queue for one, and the insurer will probably be extra assured that the bill comes instantly from the hospital and isn’t fraudulent.
The fifth instance is an SME monetary service platform. Right here, blockchain is used to deal with the shortage of creditworthiness of many smaller firms. So it goals to scale back the danger for banks or different organizations that transact with the SME, thereby encouraging a better quantity of SME enterprise.
An instance of how the SME platform is used is the storage of presidency procurement contracts and affirmation of invoices issued by the small enterprise. Therefore non-public sector companies can present provide chain financing. It’s unclear whether or not these small companies can add different invoices and have them verified as being official. Moreover, the platform gives an aggregated monetary image of the corporate.
Supply chain finance is the most well-liked monetary blockchain software in China.
Different use case examples included an actual property registration system and a number of districts have carried out platforms for certifying licenses electronically, together with enterprise licenses, ID Playing cards, driving licenses and marriage certificates.