On August 27th, Ultrain’s co-founder & CEO Guo Rui was invited to attend the 5th Annual Asian Digital Finance Innovation Conference hosted by Shanghai University of Finance and Economics a. Guo received this annual award from the conference on behalf of Ultrain.

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The 5th Asian Future Digital Finance Innovation Conference (AFFC) was held in Shanghai on June 26-27, 2019. The conference focused on the “New Era, Innovative Finance, Latest Technology” and demonstrated how financial industry can incorporates well with high-tech enterprises. Innovation drives further development, companies are trying to use modern information technology such as cloud computing, big data, mobile internet, blockchain, etc. to carry out financial technology, tools, services, market innovation, promote the transformation and application of financial scientific and technological achievements, and improve the overall performance of financial services. Industry representatives, experts and scholars all came together to discuss topics such as financial technology innovation, financial institution transformation and financial risk prevention.

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In addition to receiving the award, Guo Rui also gave a speech entitled “The future commercial infrastructure based on blockchain” at the conference. He mentioned the topic of e-commerce transformation, from tradtional e-commerce to the community based e-commerce model, and the core characteristics of community based e-commerce have the following characteristics:

  1. Based on community operations, through the App to the community group, the group discussion between community members will encourage peer-to-peer sales, increase the initial purchase rate and repurchase rate;
  2. All sales promotion within the community network will be converted into points incentives program: recommend product to others to buy; recommend product to others to provide feedback; recommend product to others to bargain for discount;
  3. Membership system, increase loyalty, members enjoy higher rights: higher discounts, better service.

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At the same time, however, community based e-commerce faces several difficult challenges: opaque rules, difficulty in building trust, high cost of payment (complex operation, high transaction fees); limited room for further growth User profile and established relationship is in centralized server, as most community e-commerce operations rely on WeChat platform, if the WeChat platform seals their account, all accumulated relationships and user information will be lost.

So how do you optimize community e-commerce through blockchain technology? Guo Rui said Ultrain, as the world's leading commercial trust computing platform, is committed to building a programmable business community that combines artificial intelligence, smart contracts, and the Internet of Things to provide a better future business infrastructure that can be traced and paid. The points incentives, advertising, and data transactions provide better solutions for community e-commerce and to better serve 10 million users.

His speech received the unanimous approval and enthusiastic response from the audience. Like the name of the awards presented by the conference, Ultrain has the privilege of being an industry leader, and will continue its growth in the future.