Cross-border remittances based on blockchain technology can enable users to complete cross-border transfers at a lower cost and faster speed under a decentralized mechanism, thus creating a huge market space.
By building a point-to-point payment mode through blockchain technology, excluding the intermediate links of third-party financial institutions, not only does it can facilitate instantaneous payments with no hidden costs, but also help to reduce the risk of cross-border e-commerce funds and meet the needs of cross-border payment and liquidation services.
Blockchain technology is used to connect the blacklist business system of various institutions, a blacklist certification platform, integrate the blacklist data scattered among various institutions to realize data sharing, establish a virtuous circle, and realize system autonomy.
Data can be traced and blacklist data is shared by all organizations. Real-time data synchronization, blacklist data update time is high, data availability is high. The blockchain platform provides general API services, which can be used to connect various application systems of banks and credit agencies.
Supply Chain Finance (SCF) is a financing mode in which banks link core enterprises with upstream and downstream enterprises to provide flexible financial products and services.
Firstly, the process of confirming the rights of core enterprises, including the verification and confirmation of the true validity of the entire bill; secondly, it proves the true validity of the transfer of creditor's rights certificates, guarantees that creditor's rights certificates themselves cannot be counterfeited, realizes credit access, and then solves the credit financing dilemma of secondary suppliers.
Letter of credit
The Project links many buyer's and seller's banks, realizes real-time power-on and real-time service. The main body of the chain establishes position management and roll-over mechanism through mutual credit, realizes real-time writing, real-time reading and real-time verification and hypothecation of letters of credit in the chain, thus reducing the travel time of bills and letters of credit and speeding up the turnover of funds.
At the same time, the change of L/C can be acquired by other relevant banks, enterprises and third parties in real time, which can ensure the transparency of information of all parties and the interests of relevant parties.
With the introduction of blockchain technology, the information of L/C can be transmitted safely, rapidly and traceably on the blockchain.
Letter of guarantee
Most of the traditional guarantee business processes require manual participation, which results in high human cost of banks. The security of guarantee letter is not high, there is the possibility of forgery, it is difficult to make up after loss, lack of trust mechanism, inconvenience of claim, and sometimes it is difficult to protect the interests of beneficiaries. Guarantee related parties have independent processes and unequal information.
Key information generation blocks are stored in the blockchain from the beginning of bidding, the issuance of guaranty letters to the revocation of guarantee letters. Unicom business stakeholders' isolated business processes and all business information are stored in the blockchain to ensure information security, transparency and immutability.
Blockchain technology allows for information sharing, speed up information circulation and reduce the risk caused by information asymmetry; the process of related parties of Unicom business can improve the efficiency of all parties, effectively reduce costs; and create a new application mode of guarantee business.
Electronic evidence refers to evidence information stored in digital form, including electronic contracts, electronic invoices, electronic articles, e-mail and so on.
Using blockchain technology to store electronic evidence can effectively solve the security problem of traditional certificates. The time stamp is given when the electronic evidence is generated, and the data integrity is verified by comparing hash values when the electronic evidence is stored in a fixed state. In the transmission process, asymmetric encryption technology is used to encrypt the electronic evidence to ensure the transmission security, which fully guarantees the authenticity and security of the evidence.
Blockchain technology can be used as a large-scale collaborative tool to adapt to supply chain management. Many types of data can be transmitted through blockchains, including insurance, invoices, shipments and transportation, and bills of lading. In order to effectively manage logistics, information flow, capital flow.
In addition, the advantage of the Project is that it can maintain the authenticity of goods. When the manufacturer produces, the intelligent contract creates real proofs for each product. These transparent and unalterable proofs can be directly inquired from the production to the sale of the historical records, and the buyer can safely purchase.
Digitalization of the
Right of Delivery of
The Project will build trading platforms for energy, or agricultural products and other resources to be sold, through block-chain technology, to publicize these trade needs to potential global investors. The characteristics of blockchain technology, such as universal review and verification, non-tampering and transparency, provide credit endorsement for potential trade, enhance the trust foundation of both trade and investment, and reduce the risk of fraud.
At the same time, the point-to-point transaction on the blockchain also reduces the transaction and marketing costs required for cross-border trade and investment, and improves the convenience for the transacting parties.
The technology patents to be authorized via the Project include blockchain technology related patents. A patent authorization platform will be built through blockchain technology. Patent users will pay patents authorization fees or use rights of corresponding patents. The whole patent authorization process is safe, transparent and traceable.
Members of the Project provide high-tech services to RT users, including but not limited to, the construction of communication networks, network security services, large data analysis, cloud computing and a series of services.
Ecological construction -- RT and XRT
The technical framework of RT project mainly focues on the direction of digital assets, payment tools, platform ecological construction, how to store, circulate, transfer and motivate digital assets in the chain, and design all its protocols. RT project users the combination model of main chain and side chain to support bidirectional peg between alliance chain and public chain. The digital asset transfer between the main chain and the side chain is realized by using decentralized
RT platform adopts main chain and side chain to support the two-way technical linkage between XRT private chain and public chain of RT platform. Side chain protocol allows digital assets to safely transfer from one block chain to another, two-way transmission. Through this solution, the two-way technology linkage can be achieved, and the secure transfer of digital assets between the main chain and the side chain can also be achieved.
Ultra-low risk payment -- SPV
Decentralization and cryptography of blockchain can be used to implement the original intention of solving security problems. The technical experts put forward a pure technical method to realize the transformation of main chain and side chain assets: SPV, namely simplified payment verification. The application scope and innovation space of block chain technology extended by side chain protocol are greatly increased: supporting multiple asset types, micro-payment, intelligent contract, security processing mechanism, property rights registration, etc., to enhance the privacy protection of block chain. By using side chains, it is also convenient to build many intelligent applications such as financial contracts, stocks, futures, derivatives and so on.
RT Alliance Chain
XRT is based on the directional invitation system, supported by some physical resources business cooperation, gradually integrating global resources during its operation, establishing the Organization Ecology of world resource cooperation and development, and forming the private chain of XRT. The private chain of XRT is not open to the public and does not trade with the public. Its function is to serve the alliance of the World Resources Cooperation and Development Organization (Resource Node).
RT Public Chain
As the currency of RT ecological platform, RT can be used as the trading medium of the platform when trading digital resources on the platform, paying the corresponding fees, giving the corresponding discounts or incentives, etc. The ecosystem of RT platform supports the exchange of various physical assets and digital assets. Over-the-counter transactions can also support the conversion of legal currencies into gold and the conversion of legal currencies into XRT and other businesses. These transactions and flows will take place in the public chain based on the RT ecological platform.
Consensus Layer of RT Common Chain
The consensus mechanism of RT public chain is based on DPOS system. The owner of RT can vote for the block producer, which is a more decentralized system than the centralized pools of Bitcoin and ETF. All holders have the right to participate in community activities. If someone does something illegal, he will be voted on and quit the system immediately.
Intelligent contracts carry the logic and execution of a series of transactions, including contracts of various exchanges, transaction contracts RT/legal currency, contracts of physical/digital assets and other applications.