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WeBank and FISCO host annual Blockchain Ecosystem Day, celebrating innovations and accomplishments in the blockchain industry

SHENZHEN, China, Dec. 29, 2023 /PRNewswire/ — Recently in Shenzhen, WeBank and the Financial Services Blockchain Consortium (FISCO) hosted the 2023 Industrial Blockchain Ecosystem Day and celebrated the Sixth Anniversary of the FISCO BCOS Open-Source Ecosystem. Under the guidance of the Local Financial Regulatory Bureau of Shenzhen Municipality, the event served as a platform where industry partners can demonstrate their groundbreaking blockchain innovations and applications. Participating organizations and individuals further discussed the impact of safe and secure blockchain in empowering industry digitization.

Over the years, the event has evolved into a pivotal event for key players in China’s booming blockchain industry, shedding light on the advanced technology capabilities and the impact of the open-source ecosystem. This year’s event featured a variety of dynamic programs, including dialogues, open mic sessions, and exhibitions.

Respected industry leaders and academia delved into discussions about industry applications of blockchain technology in sectors like healthcare, finance, and oceanography. During two engaging dialogue sessions on ESG and Open Source, panelists shared their insights on sustainable development and the co-creation of the blockchain open-source community.

Notably, after six years, FISCO BCOS’s open-source journey has garnered significant interest, attracting over 5,000 institutions, 100,000 individual developers, 50 certified industry partners, and more than 500 core contributors. Joint talent cultivation programs with esteemed higher education institutions have also bred over 80,000 talents for the blockchain industry to date. The event saw 28 ecosystem partners present their projects and share their approaches to talent cultivation. The open mic sessions were a highlight, uncovering hidden gems and stories within the open-source community.

The open mic sessions at the event.
The open mic sessions at the event.

The Annual Report Reveals Trends in Blockchain

A Trend-Revealing Annual Report Eyes on the Future in Blockchain

Emily Ye, a digital employee from WeBank, presented the “Development Report of the Industry Application of FISCO BCOS 2023” at the event. The report curated 252 cases from 400 submissions, covering 19 sectors including public administration, cross-border data verification, climate commitment, healthcare, and education.

The Report identified five significant developments in the blockchain industry:

  • Blockchain’s emergence as a critical infrastructure of the digital economy.
  • The growing significance of blockchain technology in facilitating data flow.
  • The emergence of the inflection point in the commercial value of blockchain.
  • An increase in the variety of blockchain applications in cross-border sectors.
  • Significant achievements in blockchain applications for ESG.

Furthermore, the report predicted three emerging trends, namely the congregation of consortium chain platforms towards top-tier open-source platforms, the increasing recognition of blockchain’s role in trust economies, and the emergence of cross-border collaborations.

The event also honored outstanding contributions within the FISCO BCOS Open-Source Ecosystem. 12 enterprises received the 2023 Outstanding Contribution Award, 17 individuals were named MVP of the Year, and 10 cases were recognized as Outstanding Case Studies of the Year.

About WeBank

Launched in 2014, WeBank Co., Ltd. (“WeBank”) is the first digital bank in China. WeBank provides more convenient financial services to micro-, small- and medium-sized enterprises (MSMEs) and the public, and continuously improves the quality of services in response to customers’ specific needs. As one of the top 100 banks in China, WeBank now ranks 284 in the Top 1000 World Banks by The Banker.

WeBank focuses on innovation and technology. As the first commercial bank to obtain the national high-tech enterprise certification in China, WeBank has maintained its proportion of technical personnel above 50% since its establishment, while its research and development expenses accounted for around 10% of its revenue. WeBank is now at the top of the industry in core technologies such as artificial intelligence (AI), blockchain, cloud computing and big data.