Exclusive Interview with Qi Fulei from Bubi Technology: Xinghuo Production and Finance Creating a New Paradigm for Large-Scale Production and Finance Collaboration

Author: 0xcto

On July 18, the 2023 (22nd) China Internet Conference - Industrial Internet "Hundred Cities Thousand Parks" Forum was held in Beijing, co-organized by the Industrial Internet and IoT Research Institute of the China Academy of Information and Communications Technology (hereinafter referred to as "CAICT"), the "Internet World" magazine, CAICT's "Smart+ Academy", and Beijing Tair Yingfu Technology Co., Ltd., with support from the China Electronic Energy Saving Technology Association.

The forum, themed "Empowering Parks with Industry, Smart Future," invited various stakeholders from government, industry, academia, research, media, and capital to discuss how to promote the development of the industrial internet through industrial internet parks and empower enterprises' digital transformation and upgrading. During the conference, Qi Fulei, Vice President of Bubi (Beijing) Network Technology Co., Ltd., shared a presentation titled "Financial Support for Industrial Internet Parks," introducing a new model of digital finance empowering industrial parks.

As a new industrial-financial system based on the national-level blockchain infrastructure "Xinghuo·Chain Network" Intelligent Secure Financial Service Network (ISF), Xinghuo Chanyun has attracted attention from all sectors since its launch. After the meeting, as a technical service provider for Xinghuo Chanyun, Qi Fulei engaged in in-depth discussions with us, explaining the challenges in traditional supply chain finance models: "In traditional supply chain models, trust and data sharing issues have always plagued industrial collaboration; however, Xinghuo Chanyun, based on the trusted infrastructure of 'Xinghuo·Chain Network', effectively addresses these issues and builds a new paradigm of industrial collaboration."

Qi Fulei stated: "Xinghuo Chanyun = Xinghuo·Chain Network + Industrial-Financial Collaboration, solving the synergy between the industrial and financial sectors on a blockchain infrastructure." In this system, various industrial platforms, financial platforms, and other data service source platforms can achieve multi-to-multi network collaboration capabilities. Compared to the traditional "one-to-one invocation" model, this system realizes distributed "multi-to-multi interconnection" based on digital trust.

It was introduced that "Xinghuo Chanyun" focuses on solving the efficiency and resource connection issues for enterprises. On one hand, through the rapid access of "Xinghuo Chanyun," the connection time for enterprises can be shortened from months to days. On the other hand, enterprises only need to connect to "Xinghuo Chanyun" once to achieve connections with multiple funding sources nationwide, significantly reducing connection costs and enabling access to more financial resource support.

During the interview, Qi Fulei provided a detailed comparison of three industrial-financial collaboration models: "traditional industrial-financial collaboration without blockchain," "industrial-financial collaboration with enterprise-level blockchain," and "industrial-financial collaboration with national-level blockchain."

In traditional industrial-financial collaboration without blockchain, an industrial platform needs to connect separately with each financial institution, and public service functions also need to be connected individually. This "one-to-one" model is labor-intensive and time-consuming. In this model, only small-scale industrial-financial collaborative entities can be formed, failing to generate large-scale collaborative effects.

In industrial-financial collaboration with enterprise-level blockchain, over the past few years, some industrial or financial platforms have deployed applications among their business partners using blockchain, linking their partners' platforms in a small scope. In this model, although the use of blockchain technology can enhance the trustworthiness of data in the collaboration process, it remains a small-scale collaborative entity, still localized and unable to produce large-scale collaborative effects.

In industrial-financial collaboration with national-level blockchain, under the Xinghuo Chanyun system, a national-level blockchain serves as a public digital trust infrastructure, forming a nationwide, trusted interconnected industrial-financial collaboration network in an open, co-built, shared, and standardized manner. In this model, Xinghuo Chanyun has transformed the previous "small-scale collaborative entities" into a large-scale collaborative effect successfully.

Qi Fulei expressed that the new industrial-financial collaboration model established by Xinghuo Chanyun builds digital trust between industry and finance, opening up the arteries of industry and finance, allowing financial resources to permeate into the capillaries of industry. This model effectively enhances the ability of financial services to support the real economy and significantly aids financial services for small and medium-sized enterprises, becoming a model for the integration of digital and real economies.

It is understood that since the launch of Xinghuo Chanyun, nearly ten partner representatives have signed intention agreements with the "Xinghuo Chanyun" project parties, CAICT and Bubi Technology. A new industrial-financial collaboration system based on openness and sharing is taking shape, and it is expected to build a more solid bridge for the integration of industry and finance, promoting the prosperous development of the digital economy.