BOX has launched its new BOX Ecosystem. Bolaxy, an enterprise-grade multi-chain blockchain made for supply chain finance.
Bolaxy will offer a system enabling supply chain finance participants to perform complex transactions that are currently not possible in blockchain due to limitations in transaction throughput and scalability. By using a multi-chain blockchain system, Bolaxy combines a main chain ledger and “Union”, its child chain, marrying both speed and security under one platform. The blockchain operating system uses a Dual-consensus algorithm based on “Proof-of-Authority”, which promises to be more secure, fairer, and more transparent.
The Bolaxy launch event, which was held at the Shanghai Film Plaza on 30 November, was attended by Yeeli Zheng, China Chief Representative for Nasdaq; Zhiqiang Li, Director of Product Planning at Intel Security PRC; and Yao Liu, Director of Blockchain Product at Baidu Cloud.
“The financial supply chain is a trillion-dollar market, and the blockchain solution represented by the BOX ecosystem will solve the pain point of high financing costs for SMEs,” said Yeeli Zheng at the launch.
Zhiqiang Li said: “With BOX as our partner, Intel will be able to provide our customers with the scalability and throughput required for their high-frequency and complex scenarios.”
Yao Liu said: “Baidu Cloud, BOX, and Intel will cooperate to contribute to blockchain commercial expansion, especially in the field of enterprise security.”
