Qiangsheng Smart-e aims to change the vehicle travel industry using PCHAIN Commercial Child Chain technology to improve multi-party information sharing, throughput, transparency, authenticity and security.
On May 8th 2019 Traval CCC was launched.
Overview:
1. Company
Qiangsheng Smart-e was created in 2018 via a joint venture between Qiangsheng Taxi (one of China’s oldest and largest taxi companies) and LSS Financial Leasing (a financial leasing institution established by listed company Shenhua Holdings Sun Hung Kai & Co Ltd and 58 Group). Since then it has become China’s leading provider of car-hailing end to end services.
Based on the resources of Qiangsheng Taxi System, Qiangsheng Smart-e focuses on providing advanced services to the whole vehicle travel industry, collaborating with the traditional platforms instead of competing with them.
To meet the dynamic requirements of the passenger vehicle travel industry while expanding to the freight business, blockchain technology quickly became Qiangsheng Smart-e first choice to optimize data security and simplify business workflow management.
Qiangsheng Smart-e believes blockchain technology can provide their partners with transparent and safe data about their vehicles and drivers and create a “four-in-one travel guarantee” for all the vehicles, drivers, passengers and operators.
2. Problems faced by the vehicle travel industry
- The information is not transparent to each department. This generates data silos and causes asymmetry. Each department needs to be repeatedly certified and audited to validate the progress of the business flow.
- Lack of safety standards. The entry threshold of the drivers is easy and the liquidity is large, which makes it difficult to organize and supervise.
- Lack of unified management policy for the vehicle industry. Causing bad competition in the vehicle platforms.
3. Technical challenges to overcome
- Provide multi-party information sharing channels for all the participants of the vehicle travel industry.
- Store the information flow and operation data of each traveling participating entity while ensuring the authenticity and the security of the information.
- Ensure that the data saved is authentic, secure and can be shared between multiple partners.
- Make the internal info management more transparent.
4. Blockchain design requirements for Qiangsheng Smart-e
- Information recording, sharing and maintenance through digital and decentralized distributed ledger technology. The vehicle platforms and related departments no longer need to repeatedly verify and input data.
- Integrate the basic data resource about drivers, vehicles, insurance, maintenance and license, etc. into blockchain platform for Qiangsheng Smart-e.
- Save the unified certification and audit data related to courts, big data platform, third-party platform, vehicle administration, etc
- Record the daily operation data of each vehicle including violation, customer complaints, mileage, expenditure and income, etc.
5. Why choose PCHAIN?
PCHAIN is designed to make large scale blockchain applications possible.
In testnet 1.0 it achieved 256 child chains and more without pressure on the main chain with 1064 nodes globally. The peak TPS reached 180K and will scale linearly as the number of child chains increases. Setting-up a consensus node costs on average 40 USD per month and per server.
6 patents and innovations guarantee PCHAIN competitive edge, such as its PDBFT algorithm which reduces its consensus nodes communication cost from N² to N compared with traditional BFT algorithm. Another patent and key differentiator is PCHAIN Smart Data technology and Oracle which have been developed and improved since inception. PCHAIN has also improved tremendously the incremental block data storage, by at least 50% since testnet.
To facilitate Qiangsheng Smart-e internal management and migration to PCHAIN blockchain technology we started with their core processes which can be expanded to all their business units in the future, in a very short time.
As more and more partners and organizations join PCHAIN ecosystem and run commercial child chains, security and stability will be the main challenge and enabled by PCHAIN multi-chain network and new knowledge graph.
6. Approach
- Identify the problems and tech challenges faced by the vehicle travel industry.
- Define the technical requirements for Qiangsheng Smart-e.
- Choose the best platform for this use case: PCHAIN.
- Deploy Smart Contract and create a private child chain for Qiangsheng Smart-e.
- Test and run the private child chain.
7. Timeline overview
- PCHAIN and Qiangsheng Smart-e reached partnership in January 2019.
- The project development based on PCHAIN tech started in Feb 2019.
- The structural design was completed in March 2019.
- It was integrated into PCHAIN testnet child chain in April 2019.
- PCHAIN first private CCC was launched on May 8th 2019.
- The CCC was launched with 3 nodes, the Qiangsheng Smart-e Team is now expanding this number to reach the maximum decentralisation and transparency in the alliance model.
8. Framework
9. Key Performance Indicators (KPIs)
Because it is a Private CCC and under NDA the amount of information (KPIs especially) we can share is limited.
However, Qiangsheng Smart-e’s CCC has been covering 100,000+ passengers, 1,000+ travel vehicles and 6,000+ freight vehicles in Shanghai and Hangzhou.
In July 2020, Qiangsheng Smart-e was selected as one of 2020 Global Blockchain Innovation Application Demonstration Projects alongside projects from IBM, Walmart, Samsung, ICBC (leading Chinese bank), etc.
10. Future directions
Qiangsheng Smart-e based on PCHAIN blockchain tech will complete a strategic plan for vehicle leasing (or purchase) and develop a loan platform. All the parties involved will be on chain (vehicle financial service providers, insurance companies, third-party resource channels,etc.) improving data transparency, security and throughput across the loan lifecycle.
We will jointly promote this blockchain application with the following directions in the near future:
- Define the industry standard template.
- Provide industry basic information sharing services including drivers, cars, insurance, financial services, etc.
- Push local governments to use the platform.
- Push the vehicle administration onto the platform in the local area.
- Promote PCHAIN blockchain and CCC expertise based on this first landed use case.
- Become the nationwide online car-hailing service platform based on PCHAIN blockchain.
You can follow PCHAIN below
Telegram 1, Telegram(Chinese Community) Telegram(Russian Community),Telegram(Spanish Community) Telegram(Germany Community), Telegram (French Community) Telegram (Vietnam Community), Telegram（Turkey community), Telegram Announcement Channel Twitter, Steemit,Reddit，Founder/CEO’s Twitter
