{"id":58201,"date":"2021-09-23T16:10:30","date_gmt":"2021-09-23T16:10:30","guid":{"rendered":"https:\/\/pr.asianetpakistan.com\/?p=79327"},"modified":"2021-09-23T16:10:30","modified_gmt":"2021-09-23T16:10:30","slug":"spdb-and-huawei-launch-the-spdb-finwarehouse-incorporating-digital-finance-into-warehousing","status":"publish","type":"post","link":"https:\/\/lebanonnewsgazette.com\/spdb-and-huawei-launch-the-spdb-finwarehouse-incorporating-digital-finance-into-warehousing\/","title":{"rendered":"SPDB and Huawei Launch the SPDB Finwarehouse, Incorporating Digital Finance into Warehousing"},"content":{"rendered":"
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<\/b>SHENZHEN, China, Sept. 23, 2021 \/PRNewswire\/ —\u00a0Shanghai Pudong Development Bank (SPD Bank) and Huawei presented the SPDB Finwarehouse Solution at HUAWEI CONNECT 2021. The solution is one of the biggest milestones in joint innovation for financial digitalization. It is also a step towards consolidating the Bank of Things, as the solution uses IoT to secure movable property pledges, making every object identifiable, every alarm traceable, and every item trustworthy.<\/p>\n<\/div>\n

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Last year, SPD Bank and Huawei released the\u00a0Bank of Things White Paper<\/i>, which proposes a new financial services model and system. Following this, SPD Bank began to apply innovative digital technologies to promote the Bank of Things, partnering with Huawei to “dive into digital”. SPDB Finwarehouse is one of the important initiatives that has resulted from this partnership and direction.<\/p>\n

The solution is designed for industrial supply chains and is an innovative way to manage pledges for movable warehousing properties. Previously an area of financial services that wasn’t seeing extensive digitalization, movable properties represent an innovation market space worth billions of yuan.<\/p>\n

SPDB Finwarehouse: Secure and Easy Management of Movable Properties<\/b><\/p>\n

Often, movable properties are subject to several risks. For example, ownership may not be clear, so property is pledged several times. At the same time, supervision companies may not always be completely ethical, which is why adulteration is likely to occur. Even if supervision is precise, it is costly without digital means. And without a disposal platform, goods are difficult to monetize.<\/p>\n

In response to these issues, SPD Bank has designed a more precise and trustworthy solution. SPDB Finwarehouse uses RFID, weighing devices, and blockchain PDA devices to record objective information directly at the warehouse. Inbound goods are matched with financing and lending, while outbound goods are linked with repayment. This makes goods supervision a lot easier and more effective.<\/p>\n

The solution also helps accurately determine the value of goods. It integrates verified trade, perception, and market information, and uses it to determine ownership, valuation, and efficient disposal. Essentially, logistics, commercial, capital, and information flows become centralized, providing the necessary data to properly valuate movable assets. Both upstream and downstream enterprises can now access accurate financial services, which cover the entirety of the supply chain.<\/p>\n

Illustration: SPDB Finwarehouse: Trustworthy, manageable, and easy-to-dispose movable properties<\/p>\n

Trustworthy Asset Pool Powered by Smart IoT<\/b><\/p>\n

Logistics and warehouses frequently use digital technologies. As such, Huawei and SPD Bank are deploying intelligent IoT devices at warehouses along with introducing AI capabilities and multi-dimensional data verification. This transforms regular warehouses into financial ones, integrating financial services into management and business processes.<\/p>\n

Based on the HUAWEI CLOUD platform, SPDB Finwarehouse makes every object identifiable, every alarm traceable, and every item trustworthy. The solution features the following technologies:<\/p>\n