China Merchants Bank Zhirong Applies for Patent on Blockchain-Based Digital Claim Certificate Transfer and Evidencing, Enhancing Supply Chain Finance Security

China Merchants Bank Zhirong Applies for Patent on Blockchain-Based Digital Claim Certificate Transfer and Evidencing, Enhancing Supply Chain Finance SecurityOn January 22, 2025, the State Intellectual Property Office of China (SIPO) disclosed that China Merchants Bank Zhirong Supply Chain Service Co., Ltd

China Merchants Bank Zhirong Applies for Patent on Blockchain-Based Digital Claim Certificate Transfer and Evidencing, Enhancing Supply Chain Finance Security

On January 22, 2025, the State Intellectual Property Office of China (SIPO) disclosed that China Merchants Bank Zhirong Supply Chain Service Co., Ltd. had applied for a patent titled "Method, Apparatus, and Medium for Transfer and Evidencing of Digital Claim Certificates Based on Blockchain," with publication number CN119271744A and an application date of October 2024. This patent signals a potential major technological upgrade in the supply chain finance sector, further enhancing the security of digital claim certificate transfers.

This patent primarily involves blockchain technology, aiming to provide a more secure and reliable method for the transfer and evidencing of digital claim certificates. The patent abstract details its workflow: First, a digital claim certificate is generated based on a financial transaction request, recording all transfer information generated during each claim transfer. This ensures traceability and transparency of the claim transfer process.

The system then extracts key data from this transfer information, including trade background data, user behavior data, and electronic signature protocol data. This comprehensive data covers all aspects of the transaction, providing a robust foundation for subsequent security verification.

To ensure data integrity and immutability, the patent utilizes a hash algorithm. The system calculates the hash values for the trade background data, user behavior data, and electronic signature protocol data separately. Hash values are the result of a one-way cryptographic function; even minor data changes lead to significant changes in the hash value, making any malicious data tampering easily detectable.

Next, the system correlates the storage addresses of these hash values according to the corresponding claim transfer process of the digital claim certificate. This correlation ensures the correspondence between the data and the certificate, facilitating subsequent retrieval and verification.

Finally, the system stores the hash values of the trade background data, user behavior data, and electronic signature protocol data sequentially onto the blockchain according to the correlated storage addresses. The blockchain's distributed ledger technology guarantees data security and immutability; even if one node fails, other nodes ensure data integrity. Storing this key data and its hash values on the blockchain effectively prevents data tampering or loss, thus improving the security of digital claim certificate transfers.

The core of this patent lies in leveraging blockchain technology to enhance the security of digital claim certificates. Traditional digital claim certificate transfers are vulnerable to data tampering and information leakage. Blockchain technology, with its decentralized, transparent, and immutable nature, effectively addresses these issues. Recording the transfer information and related data of the claim certificate on the blockchain creates a trusted and immutable transaction record, thereby enhancing transaction security.

China Merchants Bank Zhirong Supply Chain Service Co., Ltd., established in 2023 with a registered capital of RMB 700 million, is located in Zhuhai, Guangdong Province. It is a company primarily engaged in internet and related services. The company actively invests in R&D; Tianyancha data shows that it has participated in 8 bidding projects and holds 27 patents and 2 administrative licenses. This demonstrates the company's strong capabilities and investment in technological innovation.

The application for this blockchain-based digital claim certificate transfer and evidencing patent reflects China Merchants Bank Zhirong Supply Chain Service Co., Ltd.'s emphasis on technological innovation and its determination to enhance supply chain finance security. This not only benefits the company's competitiveness but also contributes to the healthy development of the entire supply chain finance industry. Utilizing blockchain technology effectively reduces risks in supply chain finance, improves transaction efficiency, and provides businesses with more secure and reliable financial services.

This technology has broad application prospects. In supply chain finance, digital claim certificates are crucial financial instruments; their security directly impacts the operational efficiency and stability of the entire supply chain. This patent's application can significantly improve the security of digital claim certificates, reduce financial risks, and promote the healthy development of supply chain finance.

Furthermore, this technology can be applied to other areas requiring secure data storage and transfer, such as digital asset management and electronic evidence preservation. Its wide range of applications makes it highly valuable in the market and socially significant.

This patent application marks another significant breakthrough for China Merchants Bank Zhirong Supply Chain Service Co., Ltd. in the field of supply chain finance technology. In the future, as the technology matures and its application expands, it will have a more profound impact on the supply chain finance industry. This is not only a crucial step in Zhirong's own development but also provides the industry with new technological directions and development ideas. Secure and reliable management of digital claim certificates using blockchain technology will become a significant trend in the future development of supply chain finance.

In summary, China Merchants Bank Zhirong Supply Chain Service Co., Ltd.'s application for the patent on the "Method, Apparatus, and Medium for Transfer and Evidencing of Digital Claim Certificates Based on Blockchain" represents a significant improvement in the security and efficiency of supply chain finance. With the continuous development and improvement of blockchain technology, this technology is expected to play an even greater role in the future, contributing to the creation of a more secure, efficient, and transparent supply chain finance ecosystem. Its importance lies in enhancing the security of digital claim certificates, reducing financial risks, and driving the development of the supply chain finance industry. The successful application of this technology will provide businesses with safer and more reliable financial services and drive the progress and development of the entire industry. We can expect this technology to be applied in a wider range of fields in the future and make a greater contribution to socio-economic development. This innovative initiative by China Merchants Bank Zhirong Supply Chain Service Co., Ltd. deserves our attention and anticipation.