On October 27, State Grid announced that State Grid blockchain Technology (Beijing) Co., Ltd. has been officially established and settled in Xicheng Park of Zhongguancun Science and technology park.

　　In terms of equity structure, State Grid blockchain Technology (Beijing) Co., Ltd. is a wholly-owned subsidiary of State Grid e-commerce Co., Ltd. It is reported that the State Grid blockchain company focuses on blockchain technology research, product development, public service platform construction and operation, and is positioned to create a public technical means for the construction of ubiquitous power Internet of things, realize the super link of Internet of things, the security defense line of fair market transaction, and the credit guarantee of digital economy.

　　Ubiquitous power Internet of things is a major strategic focus of the State Grid. In March this year, the State Grid's "ubiquitous power Internet of things" construction deployment teleconference was held in Beijing. Chairman Kou Wei pointed out that the most urgent and important task of the company is to accelerate the construction of ubiquitous power Internet of things. On October 12, Kou Wei said that this year is the first year for the construction of ubiquitous power Internet of things. It is less than three months before the end of the year. The company must make greater efforts and determination to ensure the completion of the annual construction goal.

　　According to the official news released by State Grid today, the technical form of blockchain is highly consistent with the construction of ubiquitous power Internet of things of State Grid Corporation, which can promote mutual trust between upstream and downstream industries, realize efficient data sharing, improve risk prevention ability, and effectively solve the problems of data accommodation, network security, multi-agent cooperation, etc. in the construction process of ubiquitous power Internet of things.

　　Next, the State Grid blockchain company will make use of the most powerful industry ubiquitous connectivity, the most flexible resource optimization and allocation ability, and the efficient value co creation and sharing ability of the blockchain to enable the development of hub type, platform type, and sharing type enterprises, and comprehensively assist the construction of "three types and two networks" world-class energy Internet enterprises.

　　In recent years, the State Grid frequently layout blockchain technology. According to the introduction, State Grid has built the whole industry chain products of financial technology based on blockchain, such as electronic contract, power settlement, supply chain finance, electricity fee finance, big data credit reference, etc., adapting to various application scenarios such as guarantee, financing, transaction, etc., forming the "1.5" mode N "blockchain financial risk control architecture system, through the establishment of a new mechanism of blockchain governance, promote the upgrading of risk control technology, and enhance the risk control ability of the financial industry.

　　The supply chain financial products based on the blockchain platform can provide the important bill information and contract information such as accounts receivable and accounts payable generated in the supply chain transaction with the functions of online storage, data encryption, credit confirmation, tracing and traceability. Service in accounts receivable factoring financing, material e-commerce procurement financing, enterprise credit, joint rewards and punishments and other businesses.

　　Based on the blockchain technology, the financial service products such as e-Loan and e-bill are built independently, which provide the functions of bill preservation, on-line audit, Bill traceability and flow management for the electricity fee financial applications, realizing the whole process of bill checking, verification, credibility and traceability.

　　The electronic contract based on blockchain, relying on the platform advantage of the core node of "Tianping chain" of Beijing Internet court of State Grid e-commerce company (State Grid Financial Technology Group), uses the intelligent contract technology and combines with the identity authentication mechanism of blockchain to provide enterprises and individuals with legal effect of online contract whole process management, deposit and forensics services.

　　Source: Polaris transmission and distribution network news