WeBank Helps to Launch Cross-border Data Verification Platform in Greater Bay Area with Open Source Blockchain Technology

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Tencent-backed digital lender WeBank has contributed to the launch of a cross-border data verification platform in the Greater Bay Area of Guangdong province, Hong Kong and Macau.

The “Guangdong-Macau Cross-border Data Verification Platform” (粤澳跨境数据验证平台) recently commenced operation, with WeBank serving as the technical services provider for the open source blockchain technology behind the platform.

The platform makes use of the FISCO BCOS consortium blockchain platform that was officially launched in December 2017 by members of the Financial Blockchain Shenzhen Consortium (FISCO).

The Hengqin Guangdong-Macau Cooeprative Financial Development Department (横琴粤澳深度合作区金融发展局) and the Macau Science and Technology Development Fund (澳门科学技术发展基金) were responsible for coordinating the development of the fund, with Macau’s InfoMacro serving as a key technology services provider

Zhuhai Huafa Fintech Research Academy (珠海华发金融科技研究院有限公司) and Shenzhen United Finance (深圳联合金融控股有限公司) are responsible for operation of the platform on the mainland Chinese side, while a subsidiary of Nam Kwong Group is responsible for the Macau side of operations.

WeBank said that the launch of the platform marks another successful use of corporate open source blockchain technology for cross-border data verification purposes, following its efforts to help launch the Guangdong-Macau Health Code Verification (粤澳健康码跨境互认) system in May 2020.