Can Blockchain Eliminate Fake Chapters ?

Jarvis+
6 min readJul 5, 2020

On July 1, I believe many netizens watched a “large-scale series”. Tencent and Lao Ganma are the main characters of the TV series. In the first round, Tencent sued Laoganma for defaulting on advertising fees and demanded to freeze more than 10 million yuan of her property. In the second round, Lao Ganma responded that Tencent was cheated. In the third round, three people forged the seal of Lao Ganma and signed a contract with Tencent, and they were arrested. In the short day, let us understand a simple truth: the more high-end companies, the more suitable for simple deception.

Alipay also sent blog on Sina to ridicule Tencent: hope there is no fake chapter in the world.

Screenshot of blog

As you can see from the above picture, Alipay began to use block chain in 2019 to solve the problems of cross border remittance, exchange, bills, insurance and supply chain finance security.
The phenomenon of “fake chapter and contract” has formed a strange circle of supply chain finance. Banks and other financial institutions have been stagnant because of the difficulty in identifying risks. They mainly focus on state-owned enterprises, central enterprises and other large enterprises to do supply chain finance. Yang Jun, product director of blockchain innovation business department of ant financial intelligent technology business division, believes that with the application of blockchain technology, supply chain finance can also expand small and medium-sized enterprises as core enterprises to smaller upstream suppliers, and reduce the operational risk of supply chain finance.

Can Blockchain Eliminate Fake Chapters?

Alipay’s “double link” has completed the full link coverage of supply chain finance. After the upper chain, the whole financing flow process is clearly marked and not tampered with. All participants carry out identity verification and willingness confirmation through double chain infrastructure. Digital signature real-time chain can not be denied. One chain eliminates the risk of misappropriation of funds. The elimination of “radish seal”…

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