Sino-Philippines Jointly Create Blockchain Technology Platform

On July 24, the reporter learned from Ping An that its financial account book and UBX, a subsidiary of Union Bank, will cooperate to build the first technology platform driven by blockchain technology in the Philippines to meet Financing needs of small and medium-sized enterprises in the Philippines. According to the agreement, the two parties will jointly build an end-to-end financial service platform that is supported by the financial credit-to-blockchain technology. The platform integrates financial accounting technology's leading technologies in financial technology, such as face recognition, micro-expression review and big data analysis, and it also provides artificial intelligence analysis, remote review and anti-fraud. Services can help financial institutions on the platform to effectively improve credit approval efficiency, provide more accurate risk assessment, and reduce risk of risk control business. At the same time, the platform can also support small and medium-sized enterprises to provide financing service needs, such as multi-channel loan application, credit. Assessment, loan disbursement and anti-fraud identification. According to reports, the platform will be put into use before the end of 2019, and officially opened in 2020 to help the majority of small and medium-sized enterprises in the Philippines to solve financing problems.