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China based LinkEye Creates the Global Blockchain-based Credit Platform

LinkEye claims in recent press releases that it has developed a Blockchain-based credit platform.  LinkEye intends to promote global information sharing to facilitate credit transactions.

LinkEye is a set of independent solutions of the blockchain-based credit sharing alliance. The blockchain technology is invented by Beijing Kuaihui Technology Co. Ltd. And Kuaihui Finance company is committed to utilizing blockchain technology to promote global credit development.

Technology and Goal
Based on the European, Southeast Asia and Chinese markets, LinkEye uses the deep integration of blockchain technology and economic model, and shares the data of bad credit list among members to construct all the individual credit data into a whole and forms a social credit database characterized by reliance and wide coverage. In this way, the social credit system can be effectively improved.

Significance
In terms of science and technology, it is significant for Linkeye project to promote the development of a global credit-based society.

The Advantage of Blockchain
Blockchain is a decentralized and distributed data storage technology. It is a secure and reliable system that realizes data transaction among all kinds of institutions and individuals in the absence of central authority. Through the use of technical measures, such as the techniques of cryptography, decentralized consensus, peer-to-peer network communication, blockchain prevents data from being tampered or deleted. Utilizing such technology allows Linkeye to ensure that the data is unable to be modified or deleted once being published on the blockchain, building a trusted data system.

Operation Theory
The LinkEye team creatively built a credit alliance based on blockchain technology with a proposed Eight Core Mechanisms, which are generally recognized by the industry to ensure the efficient operation of the alliance.  Linkeye will realize the substantial application of blockchain technology in the credit industry.

The mechanisms that it uses:
Blacklist Mechanism, Membership Mechanism, Credit Mechanism, Arbitration mechanis, Information Sharing Mechanism, Smart Pricing Mechanism, Data Security Firewall Mechanism, Open API Mechanism

Development Planning:
Phase One: Constructing credit platform and sharing blacklist among members
Phase Two: Improving social credit system to cover individual information
Phase Three:Extending the scope of credit evaluation to enterprises
Phase Four: Realizing a sound credit society

Xu Lei, the CEO of Linkeye, claims to be a cross-sector entrepreneur with abundant working experience. He once served as the head of sales of Greater China in P&G. In 2015, he founded Mei Dao Life. In 2016, he founded Kuaihui finance and began to carve out a career in the internet credit industry.

Source:  Nasdaq Globenewswire

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