Chu Jiahai, co-founder of China-Australia Blockchain Association: Blockchain makes product lifecycle management more transparent

Chu Jiahai, a member of the Oxford University Said Business School's blockchain strategy plan, co-founder of the China-Australia Blockchain Association, and chief operating officer of Australia's Utopus, said that blockchain makes product lifecycle management more transparent and controls quality. , Including the transaction's capital flow, logistics and other information can provide real-time visible and reliable path, thereby further reducing product manufacturing and service costs. In its view, the transfer of funds no longer requires financial intermediaries as an endorsement of trust, but instead is constrained by smart contracts. Point-to-point self-service financial exchanges are initiated and completed directly on the business scenario platform, which not only improves the efficiency of capital operation throughout the supply chain, but also reduces financing costs and increases efficiency. In addition, Chu Jiahai added that the traceability of the blockchain can make use of IoT devices to allow consumers to see the real data behind the goods, which can solve the problem of fake products.