2019 BAI Global Innovation Award Winner

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BAI Global Innovation Awards 2019 finalist

Best Application of Advanced Technology in a Product or Service

OneConnect Financial Technology Co., Ltd – China
FiMAX Trade Finance Blockchain Network

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FiMAX Trade Finance Blockchain Network is a blockchain solution that aims to organically connect different parties in trade finance. On this reliable, secure and efficient network, different parties in trade finance can directly and exchange data while preserving full data privacy, all of which is enabled by blockchain architecture and cryptography solutions. By onboarding data from different participants, the network forms a healthy, closed-loop data flow within the ecosystem. Enterprises can more easily prove the validity of their trades and better apply for financing. Banks can conduct more accurate credit assessments, lowering financial risk. The network has been successfully implemented and proved in the Hong Kong eTradeConnect Trade Finance Network, with 12 international banks and Hong Kong Interbank Clearing Limited already on board. It was also implemented in several other soon-to-be-announced projects in mainland China.