China Mobile and China Unicom jointly build the first large-scale blockchain settlement network in the communications industry

IT House July 10 news, according to China Mobile news, recently, China Mobile and China Unicom have made a major breakthrough in the construction of cross-operator blockchain public infrastructure.“Settlement Chain” officially put into commercial use, On July 8, the settlement chain was successfully used to realize the inter-network business settlement of operators in Guangdong, Liaoning, Ningxia, Henan, and Hebei. The result of the first operation of the settlement chain shows that,On average, business time is reduced by 60%it is estimated that the annual saving of labor and operating costs can reach more than 10 million yuan.

According to reports, the settlement chain is jointly established by China Mobile Information Technology Center and China Mobile Research Institute and China Unicom Software Research Institute.China Mobile Chain“and”Unicom chain“The enterprise-level alliance chain built across the BaaS platform provides enterprises with a real-time data channel for cross-cloud intercommunication, and is a transparent, trustworthy and efficient settlement network.

The settlement chain is based on smart contracts,Encrypt settlement data, settlement public participation and settlement rules on the chainto provide settlement information security sharing, bill data encryption exchange, automatic reconciliation, data right confirmation and settlement and other services for settlement parties, so that the transaction process can be traced in real time and traceable, ensuring the transparency of the settlement process and improving the efficiency of settlement. Security and reliability.

The settlement chain breaks the data flow barriers between operators,Eliminates risks of data breaches, tampering and disputeswhich provides a new model for establishing equal, compliant, controllable and credible business cooperation in the communications industry.

IT House understands that in the next step, both China Mobile and China Unicom 31 provincial companies will fully realize business accessand alsoInvite China Telecom, China Radio and Television, etc.The main operators will jointly build a new type of blockchain infrastructure, and create a digital economy ecosystem that is harmonious, symbiotic, integrated and open.