On July 15–16, the 2021 Shanghai State-owned Enterprises Digital Transformation Innovation Competition (Digital Base Track) held its offline final, with 20 project teams from across China participating in the competition, and it became the first track to play the final round. Tongji Blockchain Research Institute won the "Digital Innovation Pioneer Award" in the digital base track by its solution "WuTong Chain 2.0 — Digital Signature Ecology", and signed a strategic framework agreement on digital transformation eco-partnership with Shanghai Information Investment Inc. (SII).
Shanghai State-owned Enterprises Digital Transformation Innovation Competition
(Digital Base Track) Awarding and Contract Signing Ceremony
MA Xiaofeng, the project leader, introduced that WuTong Chain 2.0 — Digital Signature Ecology, a new distributed digital identity trust system based on blockchain, was proposed by Tongji Blockchain Research Institute. It could upgrade the existing digital signature solution by leveraging the distributed digital identity technology and the distributed storage technology, and it was an important digital base facility that could address the urgent need for unified digital identity trust in connecting "data silos" in urban digital transformation. Mr. MA said that without a unified, recognized and regulatory-compliant digital identity system as the foundation for urban digital transformation, it was difficult to deeply expand the application scenarios such as digital economy efficiency improvement and industrial digital collaboration.
MA Xiaofeng making an introduction
This digital base track was hosted by the State-owned Assets Supervision and Administration Commission of Shanghai Municipality, co-hosted by Shanghai Municipal Commission of Economy and Informatization and Science and Technology Commission of Shanghai Municipality, and organized by SII. A total of more than 100 people from Bailian Group, Shanghai Electric, INESA (Group) Co., Ltd., Shanghai Telecom Co., Ltd., Bank of Shanghai, Shanghai Rural Commercial Bank, Shanghai Shibei Hi-Tech Co., Ltd., SII and its 11 core enterprises, and the top 20 finalists of the digital base track attended the event.
SHAO Min, the Level II Bureau Rank Official of State-owned Assets Supervision and Administration Commission of Shanghai Municipality, indicated in his speech that the Digital Transformation Innovation Competition had received more than 1,500 high-quality solutions from leading enterprises in the industry nationwide since its launch.
It was learned that the digital base track focused on three domain scenarios: network and computing power, data and platform, and digital trust, and 15 directions were available, including computing power resource infrastructure for artificial intelligence public services, data element circulation infrastructure based on privacy protection, blockchain-based digital trust applications, etc. The final presented the Digital Innovation Excellence Award, the Digital Innovation Pioneer Award and the Digital Innovation Winner Award.
The technology eco-solution would play an important role in the process of promoting comprehensive urban digital transformation in Shanghai. Shanghai’s local standard Blockchain-based Distributed Digital Identity Application Guide, which was in line with this technical solution, had been included in the Second Batch of Shanghai Local Standard Production and Revision Project Plan for 2021 published by Shanghai Municipal Administration for Market Regulation this May. Tongji University team took on the responsibility of drafting this standard with Shanghai Electronic Certification Authority Co., Ltd., Fudan University, Wonders Information Co., Ltd., Guotai Junan Securities and other enterprises or organizations under the guidance of Shanghai Municipal Commission of Economy and Informatization.
Tongji Blockchain Research Institute's "Privacy Data Exchange Solution Based on WuTong Chain" was also selected as one of the top 50 in the digital finance track and would participate in the final of the relevant track this August. The solution further developed the Secure Multi-party Computation technology based on the trusted digital identity to support the exchange of financial-grade private data and help the construction of Shanghai Fintech Hub.