Reported by The WorldNews (WN) Network: https://article.wn.com/view/2018/01/27/2018_Davos_Blockchain_Reputation_Economy_is_Comparable_To_Go/
On January 25, the World Economic Forum Annual Meeting 2018 was held in Davos-Klosters, Switzerland where was covered with white snow. Eva Foo, who is the founder of SCRY.INFO (an international geek development team), shared international transaction data application cases based on the blockchain technology as the unique Asia female guest invited by the United Nations World Bank. She also mentioned the topics on future elimination of inequality in the world and driving the altruistic blockchain value agreement to play a revolutionary new role in existing business forms transformation. After her speech, the impressive young founder made discussions on further point of views with the guests and politicians from various countries at the venue.
EVA cited the famous words in the film Field of Dreams: “Build it and they will fill it” at the beginning of her speech. Everyone is now in a large digital network around the world. It is expected that the global data volume will be 40 ZB by 2020, which is equivalent to 4 trillion GB objects with each to be equal to a folder or a database approximately. The age of blockchain reputation has come, and blockchain has a huge potential to change the whole industries thoroughly. Everyone is an international digital asset that pays for his/her birth, consumption and travel. Based on the blockchain distributed system with tamper-resistant data contract and automatic data exchange, we can give full play to the rapid innovation and development capability in the new era, which can help the financial institutions in the world to perform transforming. The traditional banks should not only try to develop to digital banks, but also improve the experience of international financial users further, as well as discover new insights and perfect the quality of timely decision-making by transaction judgment with blockchain smart contracts.
In the fields of stock trading and food safety in the third world, the predecessor of SCRY, which is a blockchain startup technology company started in China, has implemented international development, with the operation of blockchain data contract record transaction and financial supply chain rating for three years. And with the business support of the World Bank and multiple international banks, it has helped more than 600,000 agricultural growers to create market value over 300 million USD with extremely low operating costs. By digital rights tracking and transnational commodity transaction with smart contract for each cattle or sheep, we have helped the agricultural producers, who only have the average bank account opening rate at 2.7%, to obtain extremely low interest bank loans and produce high quality agricultural products meeting to EU safety standards.
Once we possess the real data, we dominate the cornucopia of assistant trade decision-making. In the society of blockchain, we make market judgment and settlement as per the presupposed contract transaction rules under the philosophies of integrity, transparency and mutual assistance.
In order to survive in the changing environment, the leaders of international banks and financial service institutes have become more flexible on data processing. We suggest that more industries should begin to participate in the application of blockchain technology for the improvement of business interaction, discovery and decision-making capability. Increasing interaction is helpful to improve communication and cooperation, which supports more customized and effective services further. New discovery tools and capabilities are able to uncover the hidden insights in the data so as to promote the development of innovative products and services. Finally, the decision-making capability with more accuracy and timeliness can provide more individual suggestions to customers and improve the decision-making in terms of risk, safety and fraud detection.
In 2018, the blockchain technology will be benefit to more commercial corporations who will try to use it, and the existing business models and international competition patterns will be changed by its deep development at the same time.
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