WiMi is building a next-generation Enterprise Data Management System WBM-SMEs based on Blockchain, AI and IoT

BEIJING, 1 May 2023 /PRNewswire/ — WiMi Hologram Cloud Inc. (NASDAQ: WIMI) (“WiMi” ​​or the “Company”), a leading global Hologram Augmented Reality (“AR”) technology provider, today announced the development of a computing system for SMB – are combining blockchain, AI and IoT technologies to help businesses achieve efficient, collaborative and intelligent processing of data.

In the Web 3.0 era, SMEs face many challenges at the same time. For example, the current distributed data management platform is designed for SMBs. The data collaboration and connectivity between platforms is low, making it challenging to ensure data accuracy, integrity and reliability for business operations, leading to low data processing efficiency and insufficient data utilization. In addition, data encryption protection and anti-tampering also need to be significantly improved. Most of today’s computing in SMBs is based on a centralized server management model. This also makes data collaboration and data trust between two different business partners problematic. The reason for centralized management of the company’s database infrastructure is also based on the company’s data security, privacy and data extraction efficiency, and it is a necessity. Therefore, improving enterprise efficiency and productivity through data illumination and intelligent analysis and revitalization of static data is the core issue of enterprise data management. Based on this, WiMi develops a smart collaboration system for data management for SMEs so that companies can effectively connect collaborative work in Web 3.0, and company data can be efficiently utilized and processed anytime and anywhere.

WiMi uses blockchain, IoT, AI and machine learning to propose a new and effective security framework for distributed SMEs with standardized processes, hierarchies and task lifecycles. The WBM-SMEs system is based on a blockchain with a permissionless network structure that supports IoT, providing a solution for cross-chain platforms. The system also solves the authentication problem among light partners. For this purpose, the system distributes three different chain codes. It handles the day-to-day information management of participating SMBs and exchanges between nodes, and analyzes transaction details related to the exchange before saving it to the blockchain’s immutable storage. The system uses an AI artificial neural network based on machine learning to process and optimize the number of daily transactions for SMEs. As a result, the WBM-SMEs system uses fewer resources in terms of computing power, network bandwidth and data preservation-related aspects, which increases the speed of ledger management and optimization when exchanging information between different chains.

WiMi’s WBM-SMEs system offers several advantages in business data and process management:

Effective and analytical: The system provides effective collaboration between customers and businesses. For example, the interconnection between manufacturing, production and R&D includes data collection, management and optimization. The system enables the collection, organization and analysis of digital technology through artificial intelligence, helping companies improve efficiency and provide detailed and beneficial analysis.

Data security and transaction transparency: Standard processes and a secure, manipulative hierarchy guarantee transparency and authenticity of the information. The WBM-SMEs system, a distributed framework supporting blockchain and AI, provides a platform for users to design, create and deploy DApps to enable a transparent transaction environment. The system can automatically analyze and process the processes related to SMEs, especially transaction verification and validation, which facilitates resource sharing between the two sides of partnership transactions.

Data and services lightweight: A distributed public permissionless blockchain network integrated with AI technology provides a lightweight authentication mechanism that can reduce the cost of computing resources, network bandwidth, and storage.

The framework of the WBM-SMEs system is an AI-enabled, integrated blockchain divided into three distinct parts. The first is an IoT designed to collect, inspect and analyze SMB-generated data or transactions. After proper checks, the system develops a schedule for data transmission through the wireless sensor network and manages daily transactions. Second, the AI ​​part was split into two parts, the computational resource management and the neural network algorithms that support AI. A lightweight authentication is designed to provide an automated ability to grant access to each application request after a DApp has authenticated it. New SMBs or similar registrations are processed using a Blockchain Distributed Ledger Expert. BDLE is responsible for initiating further registration validation after a complete analysis of the incoming request and allows the creation of chain transactions and exchange of details. AI-enabled machine learning algorithms are used to manage and optimize the data. The process discards duplicate data/transactions and organizes logs sequentially while reducing computational resource consumption and retention load. Third, blockchain permissionless public networks (peer-to-peer networks with interconnected nodes) are distributed with two communication chains: off-chain and on-chain. These two designed communication channels handle several transactions that occur in the chain, e.g. application requests, peer-to-peer activities, operational control, external communication and information exchange, and internal transaction requests received on the chain for covert processing.

On the other hand, off-chain communication handles all explicit activities (off-chain/cross-chain platforms). The main goal of the blockchain transaction processor is to schedule the list of transactions provided by external computation and execution. The computational load is reduced by calculating the hash of individual transactions in the WBM-SMEs system. And the InterPlanetary File Storage System is used to store a log of individual transactions in the chain in WBM-SMEs. The goal is to use this distributed immutable storage because it provides a bookkeeping facility at the lowest cost compared to other distributed storage. The main reason for using it is that it allows scalability and cost-effective hierarchy in a distributed manner.

WiMi’s system has developed a classification mechanism for data management and optimization that checks for redundancy in the SMB’s data/transactions and extracts the original data while discarding duplicate items in a pre-validation process. This process facilitates computational resource management to reduce computational costs and sends validated data into the ledger for further processing. In the context of analytical ledgers, the implementation of ANN technology addresses data management, organization and optimization. The technology may identify several new vulnerabilities in the distributed data management environment, such as data/transaction detection issues and unstable identification of files in different nodes. To analyze these problems, WiMi uses machine learning to build a data identification mechanism and associates it with ANN. It can effectively extract models, discover, identify and classify data files and transaction information from SMEs, and connect to ANN to schedule logs for processing while minimizing the risk of data capture/loss by providing a significant dimensional space for classification.

Today, companies are highly dependent on digital management. In an era of Web 3.0 and more efficient and robust links, SMEs face many challenges and new opportunities for their development. WiMi’s WBM-SMEs system combines blockchain, AI and IoT technologies to create a data management system for SMEs that is encrypted, tamper-proof, secure, practical, lightweight and intelligent. The system will enable SMEs to enter the Web 3.0 era, improve efficiency and productivity, and provide businesses with more efficient and intelligent digital management capabilities.

About WIMI Hologram Cloud

WIMI Hologram Cloud, Inc. (NASDAQ:WIMI) is a holographic cloud comprehensive technical solution provider focusing on professional areas including holographic AR automotive HUD software, 3D holographic pulse LiDAR, head-mounted light field holographic equipment, holographic semiconductor, holographic cloud software, holographic car navigation and others. The services and holographic AR technologies include holographic AR car application, 3D holographic pulse LiDAR technology, holographic vision semiconductor technology, holographic software development, holographic AR advertising technology, holographic AR entertainment technology, holographic ARSDK payment, interactive holographic communication and other holographic AR technologies.

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SOURCE WiMi Hologram Cloud Inc.