Haier Consumer Finance Applies for Patent on Blockchain-Based Loan Application and Result Traceability System, Enhancing Efficiency and Security of Financial Services

Haier Consumer Finance Applies for Patent on Blockchain-Based Loan Application and Result Traceability System, Enhancing Efficiency and Security of Financial ServicesOn April 7, 2025, the State Intellectual Property Office of China revealed that Haier Consumer Finance Co., Ltd

Haier Consumer Finance Applies for Patent on Blockchain-Based Loan Application and Result Traceability System, Enhancing Efficiency and Security of Financial Services

On April 7, 2025, the State Intellectual Property Office of China revealed that Haier Consumer Finance Co., Ltd. applied for a patent titled "A Blockchain-Based Loan Application and Result Traceability System," with publication number CN119762207A and an application date of October 2024. This patent application marks a significant exploration by Haier Consumer Finance in the fintech field, aiming to leverage blockchain technology to enhance the efficiency and security of the loan process, providing consumers with more transparent and reliable financial services.

The core of this patent application lies in constructing a blockchain-based loan application and result traceability system. This system is not a simple peer-to-peer application but a meticulously designed multi-node network structure comprising several key components working collaboratively to achieve its functional goals. Firstly, the system is built upon a decentralized blockchain network, ensuring secure data storage and sharing. The participating nodes are diverse, encompassing financial institutions, borrowers, regulatory bodies, and third-party audit institutions, forming a multi-party, mutually-checking ecosystem that significantly enhances the system's reliability and transparency.

Smart contracts serve as the core driving force of this system, playing a crucial role in automating the loan review, recording, and notification processes. They encode pre-set loan rules and processes into programs, automatically executing the review process, minimizing manual intervention, thereby increasing efficiency and reducing the risk of human error. Simultaneously, the immutability of smart contracts ensures the transparency and traceability of the loan process.

Users can conveniently submit loan applications through a user-friendly front-end application. After submission, the financial institution conducts a preliminary review. Upon approval, the system encapsulates the relevant review data into a data block and submits it to the smart contract for further review. This process ensures data integrity and consistency, preventing information loss or tampering.

To safeguard the security of sensitive data, the system also incorporates data encryption and access control modules. This module employs advanced encryption techniques to protect user data and sets strict access control permissions, ensuring that only authorized personnel can access sensitive information, effectively preventing data leakage and misuse. Through these security measures, the system maximizes the protection of user privacy and data security.

A query interface provides a channel for relevant parties to query loan applications and results. Borrowers, financial institutions, regulatory bodies, and third-party audit institutions can use the query interface to access relevant information at any time, enabling information sharing and transparent supervision, further enhancing the system's credibility and security.

In summary, Haier Consumer Finance's proposed blockchain-based loan application and result traceability system cleverly integrates blockchain technology, smart contracts, data encryption, and a multi-party network structure to achieve efficient and transparent loan approvals. It not only improves the efficiency of the loan process and reduces operating costs but more importantly, ensures data immutability and security, enhancing the reliability and transparency of financial services.

For consumers, this means a more convenient and transparent loan experience; for financial institutions, it means a more efficient and secure loan process; and for regulatory bodies, it means more effective regulatory tools. Therefore, this patent application has significant practical significance and long-term value.

Established in 2014, Haier Consumer Finance Co., Ltd. has a registered capital of RMB 2090 million and a paid-in capital of RMB 1500 million, with its headquarters located in Qingdao. As a company primarily engaged in monetary financial services, Haier Consumer Finance has been committed to providing diverse financial services to consumers. Data from Tianyancha shows that the company has participated in 4 bidding projects, holds 92 trademarks, 53 patents, and 10 administrative licenses, reflecting its strong strength and leading position in the industry.

This patent application for a "Blockchain-Based Loan Application and Result Traceability System" demonstrates Haier Consumer Finance's proactive embrace of fintech, continuous innovation, and service improvement. It not only represents the company's investment and strength in technology research and development but also showcases its commitment to financial security and user experience. In the future, with the maturity and application of this technology, Haier Consumer Finance is expected to provide consumers with more convenient, secure, and transparent financial services, further enhancing its market competitiveness.

The significance of this patent application extends beyond the technical level; it also points towards the future direction of fintech development. It provides valuable experience and reference for other financial institutions exploring the use of blockchain technology to improve service efficiency and security. As blockchain technology continues to develop and mature, more and more financial institutions are expected to adopt similar technical solutions, driving the digital transformation and upgrading of the entire financial industry.

Haier Consumer Finance's patent application not only reflects its innovative capabilities in fintech but also foreshadows the future of financial services moving towards greater efficiency, transparency, and security. This is beneficial not only for the healthy development of financial institutions themselves but also for the stability and prosperity of the entire financial ecosystem. The application of this technology will undoubtedly further enhance the efficiency and security of financial services and provide consumers with a better experience.

This patent application highlights Haier Consumer Finance's emphasis on technological innovation and user experience. In the future, with the continuous development and improvement of blockchain technology, this patented technology is expected to be applied in more fields, bringing greater transformation to the financial industry. Haier Consumer Finance's move also sets a good example for other financial institutions, promoting technological progress and innovative development in the industry. As this technology matures and is applied, we have reason to believe that future financial services will be more convenient, secure, and transparent. This innovative measure by Haier Consumer Finance will have a profound impact on the entire financial industry and deserves our attention and expectation.