Chinese Hyperchain to Apply Blockchain Solution to National Grid

Mary Brendah by Mary Brendah - 01:09 PM Oct 22, 2019
chinese-hyperchain-to-apply-blockchain-solution-to-national-grid

Chinese Hyperchain to Apply Blockchain Solution to National Grid

China’s enterprise Blockchain Company Hyperchain (Hangzhou Qulian Technology), announced it will create a Blockchain solution for China’s national grid. It has also been reported that the firm will launch a new version of its supply chain platform at a conference this week.

Furthermore, the company says that China’s State Grid Corporation has accepted its bid for a Blockchain solution to support the internet of things (IoT) capabilities. The state energy body had requested IoT proposals.  This was a part of its tech procurement program.

Last year, Hyperchain developed an energy asset management platform with Green Ledger. However, it is not clear whether a similar platform will be developed for the national grid. Also, the Green Ledger project maintained focus on IoT and streamlining the flow of capital. Using blockchain, the company immutability tracked data. It used sustainable equipment such as photovoltaic panels; and enabled the trading of electricity on an open, transparent platform.

Hyperchain Dominating Blockchain Business in China


Additionally, since its establishment in 2016, Hyperchain has built several Blockchain solutions. The firm has raised over ($234m) in funding since then. Earlier this year, its supply chain software as a service (SaaS) platform; FiLooP, won two awards at a national summit. The platform which runs on Hyperchain’s Blockchain; brings standardized, scalable, and efficient financing to businesses.

Moreover, FiLoop digitizes documents such as invoices and warehouse receipts immutably. This enables parties involved in the supply chain to streamline their accounts. Hence, SMEs are easily able to gain credit and insurance. The platform further integrates biometric authentication; like facial recognition and smart contracts for business purposes.

In conclusion, Hyperchain has been recognized globally outside China. Deloitte and Microsoft Azure are FiLoop partners. Hangzhou Qulian Technology cut in the Forbes 2019 list of 50 most innovative Chinese companies.

About The Author
Mary Brendah

Mary BrendahMy first love is music – then goes writing. I don’t write fiction, I analyze bulls and bears in markets. I call it my jungle, the digital jungle of crypto and chains.

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