China UnionPay Joint Interest Chain Construction Blockchain POS Electronic Purchase Order System has completed preliminary testing

According to the news, China UnionPay and China Everbright Bank jointly used the interesting chain technology blockchain platform to build a multi-center trusted POS electronic purchase order system recently announced the completion of preliminary tests.

Li Wei, the CEO of Fun Chain, said that the system will effectively solve the four problems brought about by the electronicization of documents. "The first one can identify the authenticity of the electronic voucher in an easier way; the second can prevent the abuse of the electronic voucher, specify the number and range of use of the electronic voucher, and eliminate the double flower; the third can solve the trust bottleneck faced by the voucher storage industry, Facilitate the development of the business; Fourth, by recording the electronic voucher summary, circulation records, etc., the electronic voucher can be traced back to meet the needs of business supervision and review."

Previously, China UnionPay had previewed the "Inter-bank Points Redemption System using blockchain technology" at IBM. The system allows redemption of reward points across lines and platforms. Consumers' points in one bank can be redeemed for points rewards of other banks, or even redeemed. With multiple airline miles and supermarket rewards, the system can significantly increase the efficiency of bank credits. Yan Xiangxiang, research director of the China UnionPay Electronics Research Institute and the National Engineering Laboratory Blockchain, pointed out that "if the blockchain is used, the cost of one hundred million in the integral operation can be saved."

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