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SHANGHAI, Sept. 28, 2020 /PRNewswire=KYODO JBN/ --

At HUAWEI CONNECT 2020, Pan Weidong, President of Shanghai Pudong Development

Bank (SPD Bank), and David Wang, Huawei Executive Director and Chairman of the

Investment Review Board, released the Bank of Things White Paper. The White

Paper first proposes a brand-new financial service model and design system for

"intelligent things" in the industry, ushering in a new era of "bank of things" (BoT) services.

According to Pan Weidong, we are shifting from the era of connected things to

intelligent, connected things. Connectivity is productivity, and this is

evident through intelligent network connections with clouds, edges, and

devices. Based on intelligent things' connection scenarios, we can build a

people-centric intelligent space to provide comprehensive services. In this

space, financial services will act as an adhesive for multiple stakeholders in

the intelligent, efficient, and collaborative ecosystem to achieve mutual

success and develop a thriving real economy.

Under the national new infrastructure strategy, emerging technologies such as

5G, IoT, and AI are evolving rapidly, resulting in hundreds of billions of

"intelligent things" being connected. This has huge ramifications on business

and daily life, forming a basis for cars with intelligent sensing and

autonomous services, smart homes, smart factories, smart logistics, and other

innovative applications.

In this context, SPD Bank and Huawei propose a brand-new concept — BoT. This

concept extends direct service targets from people to "intelligent things",

builds a scenario-centered business model, and establishes a risk management

model based on an objective credit system. The White Paper elaborates on BoT

business forms, architecture, and scenario design in the digital economy. It

also dives into possible technical challenges and raises the expectations for

pan-financial services and a new digital credit system.

SPD Bank and Huawei set up a joint innovation lab in 2018 and the lab has

yielded multiple achievements. In August 2020, the two parties signed a

comprehensive strategic cooperation agreement, which reached another milestone

when the White Paper was released. SPD Bank will focus on improving user

experience, apply digital technologies, and assist the innovation of industries

such as retail, communications, transportation, and healthcare, to create a

thriving digital economy.

To learn more about and download the White Paper, please click the link.:

http://49.4.124.65:9000/EN-%E7%89%A9%E7%9A%84%E9%93%B6%E8%A1%8C%E7%99%BD%E7%9A%AE%E4%B9%A6.pdf 

For more information about HUAWEI CONNECT 2020, please visit:

https://www.huawei.com/en/events/huaweiconnect2020/ 

SOURCE: Huawei