The Blockchain Business Alliance project, referred to as BAC, aims to create a public chain ecology based on the commercial circulation field. Investment banks, Internet companies, real estate companies, hotels, social platforms and other platforms participate in project research. Jointly promote the digital development of the supply side of the retail back-end and enhance the digitalization capability of the supply chain. The BAC public chain provides individuals and organizations with a credible self-financial infrastructure, allowing all kinds of assets and warrants to be freely generated on the public chain in the form of a pass., circulation, notarization and confirmation.
BAC has engineering-level development capabilities and composite core business logic, and cooperates with first-line organizations in the industry. At the same time, the global market starts simultaneously, and there are excellent industry frontier development trends and global business applications.
BAC is an open payment network, a point-to-point global payment network based on block connections. Through this payment network, you can easily and safely transfer your money to anyone on the Internet in any currency anywhere in the world. The transaction is completed within a few seconds, and the transaction cost is almost zero. There is no such thing as cross-bank off-site and cross-border payment. It has been docked with DBS Bank, OCBC Bank, CIMB International Bank and Bank of Malaysia.
BAC uses Ruibo Ripple similar to the underlying core technology, consensus mechanism RPCA. The transaction can be verified and confirmed in a short period of time by voting at a special node. The client does not need to download the blockchain, just keep the most recent verified ledger and a link to the historical ledger, so the workload of synchronizing and downloading the ledger is small.
In order to meet the needs of users and developers, BAC will be designed as a high-performance underlying operating system with Turing integrity, supporting multi-asset cross-chain protocols and smart contracts, and introducing a multi-signature commissioned wallet mechanism. This mechanism can help users lock offline assets and distribute the same number of mapped assets through cross-linked plug-ins, users will be able to use DAPP on the chain more conveniently, quickly and fairly.
BAC hopes to solve many problems existing in the current commercial circulation industry through its advanced and perfect concepts and technical means, achieve global information sharing and win-win, and build the world’s top big data information service platform. At the same time, BAC will continue to deepen the development of the industry, provide the safest, most convenient, high-quality and efficient services for the commercial circulation industry and digital asset lovers, promote blockchain technology in the global big data industry, and achieve social development and progress. The BAC team will build on its technology to absorb more community eco-co-builders and business partners to create a safe, convenient and efficient decentralized big data ecosystem.