Application Scenarios

Construction of SilkChain Ecosystem

The development of the SilkChain requires the establishment of a sound ecosystem, SilkChain users and communities with consensus mechanisms are important goals in the construction of SilkChain. Through the Silk Token incentive design, circulation design and the development of a variety of incentive applications, SilkChain are constantly attracting the participation of global trade participants in the SilkChain ecosystem. SilkChain will accumulate the trade data and behavioral data in the ecosystem for the establishment of credit system and a global blockchain free trade zone.

Users:

Participators of International Trade

Application Scenarios:

Silk Lucky Money


Silk Lucky Money is a cross-platform, cross-distribution crypto currency circulation management tool based on the 3.0 version of the SilkChain Blockchain technology, which includes application functions such as currency purchase, exchange, payment transfer, and community advertisement bonus. In the Silk Lucky Money page, you can use common functions such as sending and receiving lucky packet, writing content, and viewing records etc.


In the SilkChain community, sellers can edit content (insert video and text) on the Silk Lucky Money page, set the amount of lucky packets, send to users, and users can get Silk Token when they read advertisements. At the same time, Silk Lucky Money is not only limited to the SilkChain community, but it is also suitable for using existing social platforms such as WeChat, Facebook, WhatsApp, and Telegram to completely subvert the existing community advertising model.

Highlights:

Sellers can adopt any social platform to do marketing in the form of Silk Lucky Money Ads.

Users can pay directly by Silk in the form of Silk URL without payment tool in any social platform.

Community users can be assembled rapidly, making the SilkChain ecosystem vibrant.

Application diagram

silk Ads

Surf Ads get Silk

Surf Ads get Silk

E-commerce, big data, blockchain of the traditional commercial center

Due to a lack of IT skills and the underdevelopment of e-commercial functions such as payments, community connection, presentation of products, etc., the global commercial centers ( the global traditional mall, shopping mall, business district, etc.) and some small enterprises have an urgent and strong demand for an e-commercial service.


SilkChain provide e-commercial service for this kind of commercial center through their cooperative partners, assist them in e-commerce operating based on Silk Token and constructing their own on-line e-commerce platform, and absorb them into SilkChain ecosystem. Through the circulation of Silk Token in the system of e-commerce platform, it can accumulate and link the trade data and behavioral data to blockchain, thus completely realizing the transformation of e-commerce, big data, blockchain of the traditional commercial center.

Users:

Global 10300 Traditional Mall, Merchants, Consumers, Third-party Service Providers, Chinese manufacturer, etc.

Application Scenarios:

B2C e-commerce platform and B2B trade service platform


In the e-commerce platform, members of all commercial centers can obtain Silk Token by shopping, consuming and reviewing. Meanwhile, users can use Silk Token to participate in privileged activities such as goods exchange, prize exchange and promotion, contributing to the prosperity of community. In addition, Silk B2B trade service platform will connect Chinese high-quality suppliers with overseas operators, provide a decentered business service for both the buyer and seller. Apart form the third-party trade services such as marketing, logistics, payment and information, the platform also introduces and integrates the circulation mechanism and resources of Silk Token, promoting the development of trade business.

Highlights:

E-commerce, big data, blockchain of the traditional commercial center;

Select more high-quality products indoors;

Do business, make a deal and manage orders at your will;

Get Silk easily, do shopping happily;

Silk integrals promote consumption and portray consumers’ images;

Third-party facilitators offer service, obtain commission and Silk.及Silk;

Construct credit big data between sellers and buyers;

Smart contract boosts online cross-border trade.

Application diagram:

HOME

Get Silk

Refer

Online communication

Digital SilkContract

Application Scenarios:

Silk Selection


Silk Selection, based on the blockchain tracing technology and the principle that Token economics can transform traditional commercial district, is a cross-border e-commerce platform. It adheres to the principle of direct supply, local distribution and transparent price, traces from the beginning, manages production, logistics and marketing chains, connects directly with global purchasers and manufacturers, and aims to help global consumers choose superior goods.


Though Silk Token, overseas buyers can firstly experience shopping and “One yuan purchase” in the platform, and gain some services such as tracing service of cost and logistics, etc. Besides, Suppliers can gain services such as order, logistics, cross-border settlement, Silk cash and buyers’ feedback services.

Highlights:

Silk Selection establishes a connection between global purchasers and manufacturers, traces from the beginning, manages production, logistics and marketing chains, and helps global consumers choose superior goods.

Silk Selection provides a variety of activities, such as group purchase, one yuan product exchange, promotion, and combine orders, thus realizing C2B customized trade.

Silk Selection adopts blockchain technology to record product information of cost, logistics fees and taxes so as to remain its real cost, and tries to help consumers obtain the largest benefits.

The users’ comment function is provided, and the meaningful comments can get Silk Token rewards; Optimized distribution platform utilizes Silk to establish communication channels between global consumers and factories, gather real and effective feedbacks for the sellers in a pattern of C2B, help manufacturers enhance product design and build blockchain brands.

Application diagram:

Product Details

Source of Price

Source of Logistics

Purchase Comments

Legal currency +Silk payment

Silk Pay

Cross-border payment is a kind of public service needed in international trade. The qualified cross-border payment should feature low transaction costs, quick transfer and, most importantly, safety.


For a variety of reasons, unlike large enterprises, small and medium-sized businesses are unwilling or unable to use the current international financial payment system. Therefore, they resort to the gray channel, bearing high fees (2%-5%) with no guarantee for security, which means the channel may disappear after their remittances.


With the emergence of the blockchain, many cross-border payment plans are carried out by their Token, but the innate problem of this method is that the secondary market of Token is now undergoing drastic price fluctuations. By the time a remittance is completed, the Token to the corresponding legal tender may have been devalued and thus cause losses to both parties of the trade. Many factories accept overseas orders with relatively low margins which can be offset by the currency fluctuations in hours or even a couple of minutes.


Based on the above reasons, the SilkChain makes the most of the blockchain while relying on itself and its own business circle and issues the Silk Dollar, which is stable in currency value, as the medium of cross-border payment. The issuance of Silk Dollar will be endorsed by the SilkChain Foundation's Silk Token.

Users:

Global 10,300 Traditional malls, Merchants, Third-party Service Providers, Chinese Manufacturer.

Scene Description:


1) The remitter exchanges the US dollar currency in the SilkChain-Certified Exchange for the equivalent Silk Dollar Token and deposits it into his or her wallet address on the SilkChain;


2) The remitter will receive the Silk Dollar through the SilkChain to other people's SilkChain wallet address;


3) After receiving the Silk Dollar, the payee selects the certified exchange on the SilkChain and converts it to the equivalent US dollar or local legal tender;


4) At any time, the Silk Dollar can be exchanged for the equivalent of US dollars at the exchange from the Silk Dollar issuer (SilkChain), and the Silk Dollar issuer (SilkChain) guarantees the 1:1 exchange of Silk Dollar and US dollar currency.

Highlights:

SilkChain distribution, universal digital currency activated in the SilkChain community through the pledge of Silk Token;

Digital encryption of international settlement currency, activation of digital currency and global circulation of cross-border trade;

Efficient and transparent application to the Trade Settlement and Financing Digital Currency within the SilkChain community;

Centralized distribution, decentralized activation, full circulation in international scope, and asset reserve benchmarking activation system;

Fast and safe for settlement with different countries and regions;

Overall Framework of SilkChain Cross-border Payment Solution:
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Silk Finance

The majority of the enterprises on the SilkChain are micro, small and medium-sized enterprises with relatively low credit rating whereas many businesses even don’t have a credit rating, thus having trouble getting the financing and loan services from the bank or financial institutions. Moreover, due to the limited method of cashing the pledges, the second source of repayment provided by the small and medium-sized enterprises including the pledges in the form of the lease of the shops and goods, must prove its authenticity by professional legal, evaluation and logistics companies. This leads to high transaction fees and the pledges can only be cashed locally, not globally. On the other hand, there are many international capitals that cannot find suitable investment targets, especially in low-interest-rate countries, where the financing cost is close to zero. However, the trust of the lender itself, the suspicion of transaction history and credit data, and the local processing requirements for the second repayment sources, including the implementation of loan contracts, all hindered these low-cost funds from entering the cross-border SME loan market.


SilkChain's trade financial solution is essentially to guarantee the authenticity of the data through the SilkChain platform, and to ensure that the automatic execution of contracts through intellectual contracts is not interfered with, and that the authenticity of the documents related to the financing trade is guaranteed through the blockchain certificate system. The SilkChain – Migrant Bird Financial Services provides intermediary platform and subsequent disposal of bad assets. In this way, we hope to attract global financial institutions to participate in this market, so that local small and medium-sized traders can enjoy the globalized services, and effectively reduce their financing costs, and convert the benefits from blockchain technology into financing dividends.

Users:

Global 10,300 Traditional malls, Merchants, SMEs

Application Description:


1) The importer applies for the letter of credit (L/C) and the loan under L/C based on the smart trade contract.


2) The financial institution determines the background of trade financing according to the smart trade contract, opens the letter of credit based on the importer's credit situation or the second repayment source, and inform the exporter and the logistics company that the smart contract comes into effect.


3) The loan under the L/C of the importer is locked by the smart contract in the form of Silk Dollar.


4) The logistics company provides the logistics information uplink and proves that the packing triggers the conditions of the smart contract.


5) According to the terms of the smart contract, after the artificial judgement (if any), the money will be refunded to the exporter's wallet address in the form of Silk Dollar, and the bill of lading will be locked.


6) The importer will repay the loan and the money will enter the wallet address of the financial institution in the form of Silk Dollar. The smart contract will automatically lock the bill of lading and give it to the importer.


7) The importer will pick up the goods by the bill of lading.

Highlights:

Based on blockchain technology, the solution is implemented in phases. In the first phase of the on-line system, put certificates online and follow a semi-manual credit applications process; in the second phase, achieve a full range of online financing processes through smart contracts;

Provide closed-loop information for all second repayment sources, for example, providing third-party assessment information to ensure the integrity of pledge information;

Do the financing based on Silk Dollar to ensure a stable rate between the legal currency; Charge service fee based on Silk Token;

Provide various forms of risk mitigation, including the introduction of guarantor;

Finally, form an open platform to access a variety of third-party financial institutions including banks, insurance companies, factoring companies, etc. to provide a variety of trade financing instruments.

The smart letter credit on the SilkChain
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