Samuel, Vice President of Ultrain Ecosystem development, is a guest of the "Emma Dialogue", a series of events to explain the development of Ultrain in the supply chain industry. He used to be Senior Consultant Manager of IBM Global Consulting Services / Partner and CTO of A Capital Fund. He has served many giant clients such as SF Express, Yuantong Express, China Mobile, Huawei, etc., and will be in the commercial application and landing of Ultrain. To know more Insights. Let us continue!
Emma: As our partner that focus on ecosystem development, what do you think can be of help based on your background in IBM's resources and experience, and what is very different from GBS's corporate customer service?
Samuel: I was originally responsible for application innovation at IBM GBS, which is to accelerate the growth of customers' business through innovative applications of new technologies, including foreign companies, governments, state-owned enterprises, and growth private enterprises. Many of the customers who have served before are in the stage of digital transformation, and the company is forming a closer and closer connection with its customers and partners. Data on a blockchain is transparent and unchangeable, which can reduce the cost of trust and improve the efficiency of collaboration in the multi-party interaction.
At the same time, blockchain as new technology can be a small challenge for business collaboration, companies often do not know how to apply it to their business, which requires us to understand the company's strategy and business in order to provide customers with corresponding blockchain solutions. Therefore, the blockchain enterprise service is a business consulting + application development + operation end-to-end service and ecology, may also involve the participation of consulting companies and technology companies as needed. Leveraging my previous experience and resources at IBM, I hope to help Ultrain to provide a comprehensive enterprise service.
The project cycle for GBS's corporate service tends to be relatively long, ranging from three months to more than one or two years. In the Internet age, we need to operate faster. Therefore, in the blockchain application consulting, we will recommend that the enterprise customers start from a small place, find the breakthrough point of the blockchain application, and then dig deep into new application scenarios.
Emma: Since joining the blockchain industry, what industry of blockchain application do you favor the most, and why?
Samuel: The blockchain has the potential to change the financial infrastructure. Various types of financial assets can become digital assets on the blockchain, storing, transferring, and trading on the blockchain. The de-intermediation and trust calculation of blockchain technology can reduce transaction costs and make financial transactions more convenient, intuitive and secure.
The combination of blockchain technology and the financial industry will inevitably create more and more business innovations. However, due to the high-security requirements of the financial industry, the low performance of the public chain, the lack of privacy protection, low security, lack of effective governance, etc., the blockchain is still unable to support large-scale commercial applications, so the current financial technology Landing applications are still dominated by permissioned chain.
However, financial innovation in the future will be focused on helping out the small consumer, is targeted towards the end consumer or micro-enterprises. Those clients do not meet the requirement to join the permissioned chain as a node, and they will not fully trust large enterprises. Such a scenario can often be an opportunity for a public chain. With the continuous development of the public-chain 3.0 project represented Ultrain, which has solved the above problems, the future public chain has great potential in the financial field.
Another interesting application of blockchain is the C-end users (including small and micro enterprises), such as the consumer goods industry, the logistics industry, etc. In these industries, users have a strong desire to require information to be transparent, and they do not have much bargaining power as consumers to enforce transparent information to be offered by big consumer brands. Blockchain as a third-party trust intermediary, the information is transparent, the smart contract is automatically executed, and the pass-through system motivates the participants. The application of blockchain technology, especially the landing of the public chain 3.0, will help promote the upgrading those scenarios, deepen mutual trust among all parties involved, and build a new economic model creating more value within the industry.
Emma: I know that you personally have experience in the logistics and supply chain industry. You have served a number of giants including SF Express. Can you explain the details of the Ultrain trust calculation and the express delivery cooperation? And how can they help them reduce costs and increase revenue?
Samuel: With the development of the mobile Internet, in order to grow rapidly, logistics companies often use the logistics resources of all parties to provide more comprehensive logistics services to customers. This “federal” organization and blockchain are similar. At the office. Due to the information asymmetry, the unsmooth data flow, and the frequent entry and exit of members within the logistics industry, the cost of the building a relationship with trust in logistics is extremely high. As a decentralized trust computing technology, blockchain naturally has application scenarios in logistics and supply chain enterprises.
OC Express is such a franchise logistics platform and is a logistic enterprise that focuses on providing differentiated services. The collection of payment is a value-added service that logistics companies generally provide to customers. In the actual application of some logistics enterprises, there have been cases where the franchise outlets used the funds and even the money to run, which reduced the customer's use. Confidence in collecting payment services, on the other hand, also brings pressure on logistics companies to resolve economic disputes.
OC cooperate with us to speed up payment collection process, and the authorized parties can query this information on the Ultrain official browser, which not only enhances the customer's confidence in the express delivery service but also Increased compliance with affiliated parties and reduced the possibility of economic disputes.
Of course, this is only the beginning. In the future, we will carry out more in-depth cooperation with logistics companies in terms of supply chain finance, logistics member credit information, item traceability, inventory circulation, and payment settlement.
Emma: What are the future commercial application of Ultrain or future of blockchain likely be?
Samuel: It seems that our CTO has already revealed the good news in advance. We are making efforts in the consumer industry, and the expansion into luxury goods, e-commerce, beauty, and other industries.