Thundersoft launched blockchain “safe” at the network edge for supply chain finance

Thundersoft Launches TurboX Edge Kit integrated with “BoAT” Framework for supply chain financial market growth @Thunderworld Edge Intelligence Conference.

The ThunderWorld Edge Intelligence Conference was held in Beijing on December 6th,2019. Core partners from the AI ecosystem such as chips, modules, cloud services, terminal manufacturers, telecommunication operators and AI algorithms software vendors and so on gathered in Beijing to discuss the industry trend and adoption of edge intelligence in AIoT era. The major highlighted activity at the event was the release and DEMO of TurboX Edge Kit Blockchain ”Safebox” solution, integrating the usage of AI + IoT + 5G + blockchain to actively dive into commercial implementation of the above techniques in supply chain financial service application.

Thundersoft’s CTO, Mr. Zou, Pengcheng said: "The core competence of Thundersoft is our in-depth knowledge of embedded operating system technology. By combining chip-level customized software with hardware integration solutions, our technology accurately benefits high and low tier industry vertical market segments for commercial applications. We believe that edge computing integration, in combination with 5G wireless infrastructure development effectively solves the problem of large traffic volume and data transmission delays. if Blockchain's on-chain data certification is fully utilized effectively, it will lead to an explosion of “new generation” in the era of artificial intelligence. Thundersoft is well underway and in active cooperation with an emerging Blockchain start-up called aitos.io. With an initial focus on the promising supply chain finance, Thundersoft has jointly launched the TurboX ™ Edge Kit blockchain IoT Edge device gateway integrated with aitos.io’s BoAT (Blockchain of AI Things) framework to effectively "target the pain point of warehouse receipt assurance security”.

Blockchain + edge computing ensures the security and efficiency of supply chain finance assurance asset management.

In order to accelerate and highlight supply-side reform, a national policy for the “integration of industry and finance, from virtual to reality” has kicked off. With this new initiative, supply chain finance has become a strategic opportunity for SMEs (Small & Medium Enterprises) to transform and grow. However, the development process of supply chain finance has not been smooth, and the actual operation still has problems such as the unavailability of accounts receivable, high capital costs, and poor credit environment.

In particular, large-scale home appliances, high-end liquor, mobile phones, and high-value commodities such as steel and minerals, these types of warehouse receipt assurance situations characterize the most frequent cases of fraudulent activity of fake warehouse receipts. The above industries generally adopt a multi-level and regional dealer management structure, depending on tier levels. For example, the first and second tier dealers have strong financial strength and unobstructed financing channels; while the third and fourth tier dealers are distributed in remote districts, counties and town. Thus, their own financial strength is weak, and the coverage of mainstream financial institutions is insufficient. Supply chain finance should fully reuse the closed loop business model illustrated below combining, "information flow + logistics + capital flow".

From the blockchain supply chain financial business model diagram detailed below, we can note a large number of small & medium-sized enterprises and core enterprises associated with the upstream and downstream cross-flow process of the industry with their financing services. This process illustrates how blockchain technology is expertly implemented to form a complete "Chain " to effectively control and resolve the risk of assurance for those assets.

Use Case #1: On-Chain Asset management of inventory books, asset identification

The collateral goods in the dealer's fully-automated warehouse are affixed with electronic tags and a CCTV video camera is installed in the warehouse to continuously probe for inventory irregularity by monitoring the entry and exit doors/windows of those goods from inside the warehouse. Electronic tags and video probes continuously transmit status information such as the location of the goods and video information of the goods, when transporting them in and out of the warehouse. This data point is then sent to the TurboX ™ Edge Kit edge gateway deployed in the warehouse. The TurboX ™ Edge Kit uses the embedded BoAT blockchain framework to digitally sign the electronic tag and the AI-processed warehouse data, then the signature will be uploaded into the blockchain for permanent storage on site. Financial institutions can reliably check whether a collateral good is in its original condition by poling the status of the goods stored on the blockchain with the records of storage and withdrawal.

Use Case #2: Real-time monitoring of assets, abnormal movement of location alarm

A large number of IP cameras are deployed in the warehouse. The video usefulness detection system based on edge computing can judge the video content by detecting it up front or close to the video source, so as to detect the camera fault, content error and dynamically adjust the video quality according to the content

At the same time, the video analysis program is automatically deployed on the edge device, and cooperatively collaborates with any nearby edge devices to process the video in real time; during the same time it communicates with surrounding cameras to complete the real-time tracking of mortgaged assets. The video content is then visually displayed to the on-site central management office (warehouse logistics company) and also pushed to the remote control center (insurance company) to ensure the security of mortgaged assets.

Use case #3: Remote inventory of mortgaged materials
Install TurboX ™ Asset Tag tracker on various high-value assets in an assurance warehouse to support real-time positioning and trajectory tracking. By using Qualcomm's cellular IoT chip and integrated with aitos.io BoAT framework, it will support real-time on-chain certificate storage of Asset Tag data. At the same time, the built-in global navigation satellite system supports GPS, GLONASS, Galileo & Beidou, plus Wi-Fi. It also supports indoor and outdoor geographic positioning, realizes long-term, cross-region tracking, and provides assured material tracking and data certification on blockchain. A set of professional asset management platform system in the commercial scenario of certificate storage, which can provide reliable remote inventory and monitoring services for global customers in various fields, and complete asset inventory with one click.

Advantages of TurboX ™ Edge Kit Blockchain safebox Solution:

Improves performance: Common alarm, analysis statistical details and other applications in warehouse receipt management assessment are faster and safer for on-site processing and decision-making in third- and fourth-tier dealer-owned warehouses. The resulting reduction in communication though cloud data centers can actually increase the flexibility of edge processing.

Ensures data security and privacy: Businesses can avoid the security and privacy issues caused by data exposure resulting from data transmission to a centralized backend. If you build a warehouse receipt assurance alliance on the upstream and downstream of the industry chain surrounding the core enterprise, you will increase tamper resistance and reach new milestones for data credibility.

Reduces operating costs. A reduction in the amount of data transmission volume and bandwidth needed for edge devices used at data centers can be achieved by performing pre-emptive computing at the edge. This allows are cost pressure reductions, normally incurred by third- and fourth-tier dealers and other small and medium-sized enterprises to build networks and cloud data center computing and storage.

During the 2019 ThunderWorld Edge Intelligence Conference in Beijing, China , ThunderSoft strategically announced cooperation with aitos.io. The stated objective was to directly address the promising advances in the supply chain finance market, while also solving the pain point of warehouse asset audit management. Thundersoft jointly launched TurboX™ Edge Kit blockchain safe box solution integrated with aitos.io BoAT framework. This Edge Kit is using a powerful Qualcomm baseband mobile processor chip with Linux OS, Edge-X-Foundry, AI algorithm and cloud service. The TurboXEdge Kit is tailored to the industry and consumer Edge Computing market.

About aitos.io:

aitos.io is a technology startup focusing on trusted identity authentication and data privacy-preserving for AIoT enterprises. Capitalizing on the rich resources of the global IoT industry, aitos.io has been instrumental to successfully navigate the fragmented IoT vertical industry with an advantageous early adoption strategy for surging cellular IoT platforms. The mission statement of aitos.io includes the ability to leverage the global alliance of cellular IoT manufacturers to empower IoT device manufacturers to tap the value of applications and data. At the beginning of the project’s launch in the second half of 2018, aitos.io obtained angel investment from IoT industry expert groups and strategic investment from Wanxiang Blockchain aitos.io also became a member of the sixth phase of the ARM accelerator growth camp.

Follow us by the link: https://www.linkedin.com/company/aitos-io

Trusted identity authentication and privacy-preserving data computation solution for the enterprises of AIoT