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Lexin blockchain builds a super ledger and plans to implement three scenarios this year

Time : 20/05/2022 Author : eugpa3 Click : + -
        On December 12 last year, Lexin successfully landed on the Nasdaq market in the United States, marking a perfect end to the wave of Chinese fintech companies listing in the United States that year. Artificial intelligence applications such as "eagle eye" and "wormhole" have become the company's distinctive features and valuation core. Recently, Lexin related people told the reporter of Securities Daily that the company has established a blockchain laboratory, and the "super ledger" system based on blockchain is being tested in a low-key and stable manner. Blockchain plans to implement three business scenarios this year. At present, Lexin is exploring the application of blockchain in the field of small and micro consumer finance, with 400000 real order data entering the chain every day, which may become 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: first, drive greater business value on the current bypass system based on real orders entering the chain; The second is the cooperation being discussed with a commercial bank. 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. For blockchain's attempts in business, Lexin's attitude is to actively explore, low-key and pragmatic. Just last year, the technical team called out elite soldiers and established the blockchain laboratory, and the team made great efforts to study the implementation and application of blockchain technology.
 
        In less than half a year, blockchain laboratory has built a blockchain based shared "super ledger" between Lexin's business departments and cooperative financial institutions. At present, the system is in the test of bypass system, and its stability has been verified. For example, if a user purchases an iPhone in installments at Le mall, on the asset side, the systems involved in the background 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. All transactions are strictly consistent, which makes the collaboration of various systems more efficient.
 
        "With this shared account book, everyone's accounts are open and transparent, and all records are synchronized to each participant in real time, and cannot be tampered with, so there is no need to spend manpower and material resources to reconcile." Bill said. Blockchain saves more than operating costs. In the process of financial cooperation, the use of blockchain technology can also increase the trust of the platform, thereby reducing capital costs in disguised form. In the process of providing liquidity for the cooperation platform, the higher the trust of the partners, the lower the capital cost. Partners on the same blockchain are undoubtedly the most reliable. According to bill, the current "super ledger" system is still in the testing period, and the main business system is still functioning.
 
        The "super ledger" is being tested as a bypass system. The current indicator is that the delay is within 100 milliseconds, the peak is 200 transactions / s, and it can carry hundreds of thousands of transactions every day, which can fully meet the needs of existing business volume. He revealed that the next plan is: Lexin runs a node in the super ledger, and external cooperative banks run a node to solve the transaction and settlement problems between banks and Lexin in a new way. Bill said, "using blockchain for bookkeeping is only le Xin's first attempt in blockchain application. ‘ super ledger ’ makes each node of the industrial chain have a sense of trust with each other, which greatly improves the efficiency of industrial collaboration in reconciliation, clearing and settlement, and the clean data under the blockchain will also lay a foundation for the company's in-depth exploration in the field of AI.
 
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