WeBank named to the Forbes Blockchain 50 for the second year in a row
SHENZHEN, China, 15 February 2023 /PRNewswire/ — WeBank, the world’s leading digital bank, has been featured on the fifth Forbes Blockchain 50 list. The newly released list features 50 global market-leading companies that have implemented blockchain technology to re-innovate their business. Their successful projects revealed some of the most exciting annual breakthroughs in both public and consortium chains. WeBank, the long-term open source consortium chain platform innovator and ecosystem builder, has been recognized for its personal information portability solution based on DDTP (Distributed Data Transfer Protocol).
As a world-leading digital bank, WeBank leverages the benefits of ABCD technologies (AI, Blockchain, Cloud Computing, Big Data) to serve over 350 million individual customers and over 3.4 million micro, small and medium enterprises (MSMEs) and sole proprietorships. . Since 2015, WeBank has invested in research and development of consortium chain technology. In 2017, it began to open source successful projects and co-build the ecosystem for the open source consortium. IN April 2022WeBank launched the “WeBank Blockchain” brand, which is committed to building a trusted foundation for stakeholders engaged in environmental, social and governance strategies involving government, business and the general public.
So far, the WeBank Blockchain open source ecosystem has brought together more than 4,000 institutions and companies, and 90,000 individual developers. The ecosystem has gathered more than 300 benchmarking applications in key fields such as finance, healthcare, environmental protection, agriculture and cross-border data circulation. These applications help to increase industrial digitization, serve the development of the real economy and promote equity and sustainability.
The personal information portability solution introduced in the list – the information verification platform, is built by partners based on DDTP and FISCO BCOS open source consortium chain platform. The platform is designed based on DDTP which aims to achieve cross-agency, cross-scenario and cross-enterprise data collaboration. The platform introduces the user as the key participant, leverages full process traceability, anti-tampering, transfer of trust technology capabilities to blockchain, and invites authoritative organizations such as notary public to facilitate more secure, trustworthy and collaborative personal information portability applications.
The information verification platform has been widely adopted in various online scenarios such as finance, background checks, marriage and dating, etc. It tackles the pain point of verifying authenticity in the process of transferring user data for businesses. By the end of 2022, the total number of users who have activated the platform passed 3.1 million, and the number of users who have activated the platform in financial services passed 2.5 million.
About WeBank
WeBank Co., Ltd. (“WeBank”) was launched in 2014 and is the first privately owned bank and digital bank in China. WeBank offers more convenient financial services to micro, small and medium enterprises (MSMEs) and the general public, continuously improving the quality of services in response to customers’ specific needs. As one of the top 100 banks in ChinaWeBank now ranks 331 in the top 1000 world banks by The banker.
WeBank focuses on innovation and technology. As the first commercial bank to achieve the national high-tech enterprise certification in China, WeBank has kept its share of technical personnel above 50% since its establishment, while research and development costs accounted for around 10% of revenues. WeBank is now at the top of the industry in core technologies such as artificial intelligence (AI), blockchain, cloud computing and big data.
SOURCE WeBank Co Ltd
