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Lexin established blockchain Laboratory

Time : 04/11/2021 Author : b75mxw Click : + -
        Lexin financial architect and head of blockchain laboratory recently publicly said that at present, Lexin is exploring the application of blockchain in the field of small and micro consumer finance, and has established a blockchain laboratory. According to him, Lexin has 400000 real order data into the chain every day, becoming the first enterprise in China to apply blockchain technology to phased e-commerce. It is understood that at present, Lexin has set up two laboratories, one is the Artificial Intelligence Laboratory (AILab) and the other is the blockchainlab. At present, it is trying to share the ledger with multiple nodes. In the future, it will use new technologies and new solutions to explore more in finance.
 
        "Our blockchain team's goal this year is to achieve ‘ three two one ’. That is, at least three scenarios are implemented, at least two patents are declared, and a blockchain laboratory is declared". Bill, the head of Lexin blockchain laboratory, is full of expectations. He believes that the application of blockchain in business must be implemented, rather than staying in the imagination. At present, Lexin's blockchain based "super ledger" system is being tested in a low-key and stable manner based on this concept. Referring to the three business scenarios that blockchain plans to implement this year, bill introduced that the first is to drive greater business value on the current bypass system based on real orders entering the chain; Second, cooperate with a commercial bank under discussion, and Lexin plans to build a credit enhancement system with the bank; Third, based on the characteristics of blockchain, explore the landing scenarios of orange financial credit enhancement, ABS, value endorsement and so on.
 
        What is a blockchain based "super ledger"? Take Lexin's usual business process as an example. If a user purchases an iPhone in installments at Le mall, the systems involved in the background on the asset side include e-commerce business system and risk control system; On the capital side, it will involve the orange financial management system or Dingsheng asset management system under Lexin. If orange financial management does not provide shopping funds, it may be the funds provided by an external fund party cooperated by Dingsheng asset management system, involving the business system of the bank. In the previous trading chain, each node had to record an account. This method of independent bookkeeping may lead to inconsistency in the data of each node, because each system is relatively independent, and even in the business systems of Lexin's external partners, the data format is different.
 
        The essence of a transaction is a bookkeeping process. In such a link where bookkeeping is realized by a distributed system, the ledgers of multiple nodes may produce different data. Therefore, reconciliation between systems is a huge project. In Lexin's blockchain based "super ledger" system, each node has its own copy of the shared ledger, and the copy uses a consensus agreement, and all transactions are strictly consistent. This makes the coordination of various systems more efficient. On December 21, 2017, Lexin (nasdaq:lx) landed on NASDAQ. According to its disclosed financial data, the total revenue in the first nine months of 2017 was 3.988 billion yuan, and the expenditure on R & D in 2016 was 127million yuan (about 19.14 million US dollars).
 
        
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