China Life: Blockchain technology helps target poverty alleviation

According to overseas reports, 2020 is the year when a well-off society will be fully built and the 13th Five-Year Plan will be completed. In order to help fight off poverty and fight for a decisive victory, China Life actively explores the "financial poverty alleviation insurance first" model, using blockchain + poverty alleviation as a means to continuously strengthen cooperation with the government and social forces and participate in the implementation of many public welfare insurance projects.

The "Dingliangzhu" project aims to pay attention to the health and medical security of the main labor force of poor families, and provides an exclusive poverty alleviation public welfare insurance for the poverty-stricken households in the country who are 18-60 years old. Blockchain technology has turned the "top beam" project into a "public account book". By using the blockchain technology framework to achieve real-time connection of underwriting data, all projects including donors, public welfare institutions, insurance companies, and insured persons are realized. Participants, together "bookkeeping" and supervision, no one can tamper with the accounts. China Life uses the features of blockchain technology such as "tracing the source of transactions and cannot be tampered with" to ensure the transparent use, accurate delivery and efficient management of poverty alleviation funds.