Application Scenarios of Digital Finance

Applications of eyeball55 AIoT Chip on Digital Finance

In the digital economic era, the most important ICT infrastructure and business models are, more or less, affected by Internet, AI, IoT, shared services, blockchain, etc. The key production factors in the digital economy are knowledge and information which are also driving force for innovation. By deep fusion of digital technologies and business practices in the real world, the level of digitalization and intellectualization could be enhanced, both economic development and governance could be transformed in a faster pace. In the domain of digital finance there are some key concerns calling attention from both public and private sectors:

  • Data Privacy Protection;
  • Deepen Internet Security;
  • Accelerated Data Transmission;
  • Security Management of Certificates;

TOE of EyeM5 550 AIoT /eyeM5 5500~9500 EdgeX HPC

eyeM5 550 AIoT computer and the 5500~9500 EdgeX HPC servers will be equipped with the TOE (TCP Offload Engine) module for speedy data transmission on Internet. The former uses 1G RJ45 wire, the latter is equipped with 10G optical fiber transciever. This TOE module is critical for eyeM5 550 AIoT computer and eyeM5 5500~9500 EdgeX HPC servers to provide investment banks, hedge funds, technical service providers, and various exchanges with end-to-end high performance solutions, to simplify the structure of financial marking data source and transaction infrastructure for fulfilling the requirement of low latency from the marketplace.

Based on Xilinx FPGA eyeball 55 chip is inserted with TOE speedy data transmission module for supporting low latency real time data transmission, and speedy data collection and distribution which are required by the high performance centric marketplace to conduct order fulfillment and connectivity management with stringently controlled quality level. It is a ‘MUST’ feature for eyeball FinTech’s solution as the leader of high frequency transaction marketplace.

By inserting eyeball55 FPGA chip and TOE IP the EdgeX HPC series are server solutions of the eyeM5 5500~9500 used to support the B2B market of ultra-super low latency (ULL) data handling and distribution services. The EdgeX HPC servers can be deployed to financial exchanges for more effectively handling marking data including totally 8 major financial commodities such as stocks, futures, options, etc. and shortening the transaction time. The EdgeX HPC servers can also provide near real time data transmission (the average speed is 1.0μs), analysis, and data generated from a simplified process.

Values of AI inside60 and the Application Scenarios

There is a trend that the coinage system is being gradually changed by various digital technologies, so as the banking services. The so-called traditional banks have long implemented their ledger systems on the TCP/IP server-client architecture, which will be migrating to digitalized infrastructure with Deep Learning AI for providing smarter financial services, e.g., intelligent credit rating, automatic crediting, smart payment, default and risk management, smart investment consulting, smart financing, cross border settlement, consumer mobile payment, etc.

Based on the eyeball55 FPGA chip burned on eyeM5 5500~9500 PCBs of edgeX HPC servers as well as many years of experiences in digital financial service provisioning eyeball FinTech Co., Ltd. developed the following 3 major application scenarios to cope with the needs from both consumers and businesses for diversified financial services.

  • Cross Border...
  • Interactions between...
  • Enabling Inclusive...
Cross Border Digital Currency Settlement, Clearing and Mobile Payment

It is commonly recognized that the current banking system is not sufficient enough in terms of functionality and architecture for cross border settlement and payment service. New technologies provide new choices of solution modules to solve the long existed issues such as database structure of ledger, data privacy, open loan and money lending, expansion of credit risk level, etc.

The module of DLT together with biometric and machine learning technologies provide us with new tools for convenient and speedy global distributed ledger service provisioning to financial institutions, businesses and individuals at affordable price, that cannot be carried out by traditional banks before.

This brand new service is independent of ledger database, ICT infrastructure and currency services. It can effectively stimulate micro economic development, and, at the same time, take care the operation of both digital and legal currency in various marketplaces of currency exchange, stocks, bonds, clearing and settlement in compliant with global regulations, that ensure the protection of consumer rights.

There are some issues with current SWIFT cross border clearing system which only supports the exchange between bank’s head office and overseas branches. There is no direct linkage to support cross border exchange between overseas branches. Besides, the long and tedious process of review and investigation, sometimes manually operated, hinders timeliness and efficiency of cross border clearing, not to mention the complex system involved in the whole process.

On the contrary the distributed architecture of Blockchain enables other nodes to still work even a node is malfunctional. With this feature Blockchain cross border clearing system demonstrates superior advantages in terms of high efficiency, second speed in decentralized message passing from normally at least 6 minutes. Due to being highly expansible and extensible architecture new comers could swiftly deploy their service systems and join the whole ecosystem to do business.

eyeball FinTech has selected various open source oriented digital technologies and tools including DLT, big database, AI algorithm, GPU high speed computing, AI cloud, Open API, IoT, R/Phython, ect. to build up the following solutions:

  • Platform infrastructure of multilateral exchange for cross border settlement and clearing services;
  • Financial service system used in the digital currency ecosystem of RMB pricing, issuing, transaction, transfer, payment, settlement, etc.

The server (eyeM5 5500) developed by eyeball FinTech are inserted with AI LSTM algorithm and eyeball55 FPGA chip supporting IPFS protocol for distributed file system, which is distributed cloud servers providing security and storage for any types of data. The server also enables end-to-end encryption to the stored data and prevents unauthorized clients to open the key for data access.

eyeball FinTech, in the future, will provide customized IDC cloud services to varied financial institutions by collaborating with the local communication carriers and Equinix Inc.’s Equinix Ecosystem for Financial. The clients are global financial center’s IDCs operators located in London, New York, Tokyo, Singapore, Shanghai, and Hong Kong, who are users of the infrastructure of global banking ecosystem for data exchange in the optical fiber network. eyeball FinTech partners with CFH Clearing, Barkley, HSBC, and other 8 global banks to establish an environment for circulating digital currencies, foreign currency and the exchange rates for providing financial services of settlement, clearing, transaction, hedging for risk management to banks, insurance and trust companies, as well as listed public corporates.

Source: eyeball FinTech Co., Ltd.

In more details, the clients of digital financial application services are described as below:

  • Financial institutions in banking, insurance, stock exchange, trust, etc.: Using GO language based “smart contract” covering Etherum and hyper-ledger related financial services for mobile and portable cross border account opening, deposit, loan, settlement, payment, L/C issuing, proof of funds, clearing, etc.
  • Listed public corporates: providing risk management of currency exchange, trend warning of currency exchange rate, hedging transaction, multi-currency asset management, ultrahigh computing power, AI algorithm models, smart financial investment, etc.
  • Innovative startups and personnel of quantitative transaction services: providing financial historical database, real time marking data, IDC infrastructure for high frequency transactions, SDKs of R/Phython/Go languages, etc. The integrated database and infrastructure facility are used by the clients in various stages of operation such as R&D, testing and verification, validation, simulation, reconstruction in Bandbox, real transaction, transaction performance analysis, dynamic risk management, etc. The above service suite is branded AI inside60 with stringent security management and role-based data access mechanism.
  • Specialized research institutes and universities: providing faculties and students with advanced AI inside60 financial service platform together with financial big database, R-based SDK for financial commodity pricing, Phython-based SDK for AI algorithm models, GO-based SDK for smart contracting for the purpose of teaching and research.

Interactions between Traditional and Digital Financial Applications

Due to continuous development in eCommerce, social media and new digital technologies the emerging new banking services such as digital banking, virtual banking, internet banking, direct marketing banking, etc. are getting popular. All of them are digitalized.

Through facial recognition and digital certification, issuing ledger by the bank of trustees and adopting smart contract mechanism, the data of ledgers can be encrypted and stored on distributed blockchains, which are connected to “AI big data ledger high speed IDC” in order to analyze and find out the needs from customers.

Generally speaking, the traditional banking services need to change in order to cope with the change of financial markets, because they are not flexible enough to adapt to the needs for “smart finance” and “digital currency” in terms of cross border settlement and clearing service provided to micro- and SMEs. eyeball FinTech, under this circumstance, aims at providing to the mentioned clients with totally different services by redefining the digital currency of the digital economy, and banking infrastructure of a cashless society. The features of service that eyeball FinTech offers can be listed as below:

  • Actively link and streamline the services of deposit, transfer, payment, loan, asset and risk management, settlement, asset trust, etc.
  • Actively enable clients to launch smart services based on the digital assets such as smart supply chain management, green and smart finance, cross border settlement and clearing, mobile payment, etc.

Source: eyeball FinTech Co., Ltd.
Enabling Inclusive Finance by Blockchain Solutions

The services of currency exchange hedging, trend warning of currency exchange rate, hedging transaction, multi-national assets management, and commodity pricing by smart contract provided by banks, insurance companies, securities, trust companies, and other financial institutions, all have cross chains and portable characteristics.

Smart banks can issue digital certificates, open digital accounts, and design smart contracts for private and alliance chains for cross chain transaction. They can also provide Ethereum and hyper-ledger services covering all relevant inclusive financial services including account opening, deposit, loan, currency settlement, payment, L/C issuing, proof of funds, cross border settlement and clearing, etc.

Hyperledger service is one of core modules in the eyeM5 suites branded AI inside60, which can conduct transactions between ledger systems through ILP protocol. It is basically a payment protocol designed for value transfer between distributed and non-distributed ledger systems. The financial IT payload defined by Fixprotocol 4.4 can be received and transmitted on Hyperledger 1.2 brokering platform to solve the issue of interoperability between ledgers of digital and legal currencies.

Source: eyeball FinTech Co., Ltd.

Source: eyeball FinTech Co., Ltd.

We believe that the issuance of currency, stocks, bonds, insurance policies, invoice, vouchers, bill of lading and bonus vouchers, etc. by the Central Bank, within 10 years, will inevitably be carried out by adopting distributed ledger blockchain technology that is promoted as token economy to exchange and transact the sharing of value amongst individuals, corporates, communities, religious bodies and, even, governmental agencies.

Eyeball55 Digital Assets Clearing Center different from others in that it tries to define the function of “digital assets clearing center”, which not only provides currency exchange and transaction, but also combines AI, big data, algorithms with blockchain to serve the real world economy by providing business financial services like investment consulting, robot financing, wealth management, cross border settlement and clearing, supply chain financing, and loan to micro business. Eyeball55 Digital Assets Clearing Center is an open service portal developed for supporting an intelligent data service ecosystem.

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