Tencent Cloud Blockchain as a Service (TBaaS) helps users easily and quickly build blockchain services, freeing them from cumbersome and repetitive development tasks, and allowing them to devote more effort to services on the blockchain and advanced architecture design of business systems. Blockchain technology can be applied in different industries and business scenarios. To enable customers to easily understand blockchain from a business perspective, TBaaS has launched several blockchain solutions based on specific business scenarios.
Application Scenario Examples
Shared Ledger
Business Scenario
Interbank Clearing and Settlement
Cross-border Settlement
Auditing
Fast underwriting Insurance direct compensation
Solved Business Pain Points
Slow interbank clearing and settlement
Cross-border payments take a long time and incur high costs.
Numerous insurance claim documents, long process duration.
Scenario Solution
In the process of traditional cross-border payments and interbank clearing and settlement, the pain point lies in that the process needs to pass through multiple institutions such as the account opening bank, central bank, overseas bank, correspondent bank, and settlement bank. Each institution has its own accounting system, so the speed is slow and the efficiency is low. In the traditional insurance industry, insurance companies need to process numerous claim documents, and the process duration for handling documents is long, resulting in huge time costs. The characteristics of the shared ledger and smart contract owned by TBaaS help users solve problems such as slow interbank clearing and settlement, long cross-border payment time, high cost, as well as numerous insurance claim documents and long process duration. The complete smart contract integrated development and debugging environment provided by TBaaS is different from other platforms. Tencent especially provides a smart contract check service to perform validation on compliance and security, so as to prevent security events similar to Ethereum DAO from happening again.
Notarization and Record
Business Scenario
e-contract
Electronic Bills
Evidence preservation
Tencent Supply Chain Finance (TSCF)/Supply chain management
Solved Business Pain Points
Slow certificate issuance, long process, fake invoice
High cost of rights protection
Scenario Solution
In the process of traditional evidence preservation, electronic contract invoice and user information record preservation, there are risks of slow issuance of certificates, long processes and invoice forgery, which lead to relatively high cost of rights protection. In the traditional supply chain finance chain, the integration of information flows, logistics and capital flows of core enterprises and upstream and downstream enterprises is crucial. However, currently each enterprise maintains its own data information, and information silos increase the difficulty of information integration. The anti-tamper feature of the blockchain possessed by TBaaS can guarantee the execution of smart contracts and provide a platform for the operation of smart contracts. In real business scenarios, TBaaS can effectively help customers solve problems such as notarization, information recording, long business process in the supply chain chain, numerous documents, and information forgery and easy tampering.
Crowdfunding Domain
Business Scenario
Mutual Insurance
Crowdfunding for serious illnesses
Public welfare donation
Solved Business Pain Points
Cheat issue of the platform provider
The flow direction of public welfare funds is opaque.
Scenario Solution
In the field of crowdfunding, under the traditional operational mode, mutual insurance has risks such as cheating by the platform provider, great difficulty in supervision, and non-transparent public welfare funds and accounts, which lead to the lack of public confidence and the inability to transmit trust. TBaaS regards each trading party as a node in the network. The various assets and products of each institution are presented in the form of digitalization in the network, and solves the problem of mutual trust among institutions, forming a unified alliance, and realizing traceable capital flow direction, public and transparent information, and information sharing across the entire network. At the same time, based on features such as distributed ledger, tamper-proof, and process transparency and traceability, the risk of internal cheating is avoided.
Digital Assets
Business Scenario
big data trading
sharing economy
Points circulation and universal exchange
Solved Business Pain Points
Data is not true and transparent
Data is difficult to share and collaborate.
Points Interchange and circulation are difficult.
Scenario Solution
In the typical scenarios of big data transactions, asset transactions, sharing economy, and points circulation and universal exchange in financial services. TBaaS provides the capability of value circulation, enabling the blockchain to play the roles of confirmation of rights, transaction confirmation, accounting, reconciliation, and settlement in digital asset issuance and circulation. And the anti-tamper capability of blockchain technology will effectively prevent data tampering and avoid internal cheating risks.
Anti-Counterfeiting and Trace the Source
Business Scenario
Trace the source of medical pharmaceuticals
Trace the source of tobacco
Food traceability
Solved Business Pain Points
Product counterfeiting
Products are difficult to trace the source.
Scenario Solution
Currently, in the prosperous market economy field, due to the refinement of social division of labor, illegal vendors use the vulnerabilities and information asymmetry in various stages such as production, supply, sales, and consumption to manufacture counterfeit and shoddy products, which bring great damage to the national economy, product brands, and consumers. Due to the limitations of traditional methods, it is difficult to use technical means to conduct product traceability and anti-counterfeiting. TBaaS proposes a blockchain solution for product anti-counterfeiting and traceability based on the Internet of Things, anti-counterfeiting tags, and logistics tracking against this challenge. It prevents the mixed raw material supply in the supply chain and various counterfeit and shoddy products in the sales channels. By combining blockchain technology with Tencent Cloud IoT, big data, QR code/NFC chips, massive storage and other products, it provides customers with one-stop product anti-counterfeiting and traceability capabilities.
Supply Chain Finance
Solved Business Pain Points
Financing difficulties of small and micro enterprises
Financing for small and micro enterprises is high.
Difficulties in supervising financial institutions
Scenario Solution
By leveraging Tencent's blockchain technology and Tencent's resource ecosystem, it connects the asset side of core enterprises and the capital side of financial institutions, enhancing the efficiency of capital allocation, improving liquidity, and supporting the supply chain of small and micro enterprises. Since the data on the blockchain is recorded and confirmed by multiple parties, it has features such as tamper-proof, non-repudiation, and traceability, thereby achieving the split transfer of accounts receivable, all of which can be traced back to the initial assets registered on the chain. Through technical implementation, the trust penetration mechanism in TSCF is achieved, digitizing the financial assets (accounts receivable) that were originally non-splittable, enhancing the liquidity of assets, and reducing the financing costs of SMEs.
Electronic Invoice
Addressing Business Pain Points
Resolved information silos
Implemented paperless reimbursement
Resolve duplicate reporting
Scenario Solution
Based on Tencent Self-developed blockchain technology, with the aid of the distributed accounting, multi-party consensus and asymmetric encryption mechanism of blockchain technology, the "flows of assets and invoice flow" are integrated. By combining invoice issuance with online payment, the entire process of invoice application, invoice issuance, reimbursement and tax filing is connected. By encrypting the full-process information of invoice circulation and putting it on the chain, the uniqueness of invoices and the immutability of information records are ensured, the security of the Electronic Invoice System is improved, the costs of regulatory bodies and enterprises are reduced, and the invoice issuance and reimbursement process for consumers is simplified.
Evidence Storage
Solved Business Pain Points
Difficult to determine the ownership of electronic data
High cost of evidence storage
Scenario Solution
Establish a blockchain reliable data channel from electronic data to electronic evidence, solve the problem of easy tampering of electronic data for commercial organizations, and solve the problem of difficult identification of electronic evidence for judicial institutions. At the same time, through the circulation management of electronic evidence, organize multi-party collaboration in the judicial ecosystem, thereby achieving the confirmation of enterprise data rights, the collaborative issuance of evidence by judicial assistance institutions, and the rapid arbitration of judicial institutions.