JD com : An Example of a Mortgage Where Technology Is Backed by Biological Assets | JD com Market Screener

Doris Liu

China’s HengFeng Bank provided mortgages for 160 live beef cattle with the help of a bio-asset monitoring platform developed by JD Technology. report According to international market research firm IDC.

According to data from the Chinese Academy of Social Sciences, China’s “three rural problems” (agriculture, rural areas, and farmers) had a financial shortfall of 3.5 trillion yuan in 2018. However, China’s rural finance faces multiple obstacles, including: Lack of valid credit data and lack of collateral. Financial institutions have been reluctant to accept biological assets as collateral, despite the great potential of such collateral in rural areas in terms of valuation, title verification, supervision and disposal.

Using JD Technology’s platform, HengFeng Bank has donated 1.75 million yuan to Wang Yuhe, a cattle producer at Hengchang Farm in Heze, Shandong Province. By connecting the camera equipment installed on the cattle ranch with the smart ear tags attached to the ears of his 160 cows, this platform will monitor each of his cows in real time 24/7. dynamic data to monitor and record growth information and health status throughout life. The cycle of beef cattle production. Meanwhile, data is synchronously uploaded to the blockchain to ensure uniqueness, authenticity, and protection against tampering and duplication, greatly reducing bank lending risks and easing Wang’s financial pressure.

Creating a digital twin on the blockchain ensures that all physical animal information is immutably stored and biological assets qualify as collateral. Integrated with technologies such as AI, big data, blockchain, and IoT, the bio-asset monitoring platform monitors the production of livestock such as cattle, sheep, pigs, poultry, and fish by monitoring with smart IoT devices such as cameras, ear tags. Applied to the collar and leg rings. It is equipped with equipment such as water quality sensors, temperature and environmental controls, and ultrasonic equipment to match the characteristics of different animals.

For example, in July 2022, a platform-based aquaculture monitoring solution will be available by linking dissolved oxygen sensors, pH sensors, oxidation-reduction potential (ORP) sensors, other IoT devices, underwater cameras, intelligent feeding systems, etc. started. The process of applying for loans to fish farmers and banks.

On the consumer side, JD Technology’s platform supports full traceability of meat products, thus ensuring product quality. in some casesthe amount of walking done by a chicken before the butcher is assessed on a specially designed pedometer resembling a poultry leg band attached to a platform to ensure meat quality.

Farmers can use the platform to more easily spot risks to livestock, plants and the environment. The IDC report believes digitized monitoring of biological assets can help bring more financial support to rural communities. Apart from loans, financial institutions can lower the threshold for offering bespoke livestock insurance to mitigate many of the risks faced by farmers. Additionally, governments can distribute subsidies to farmers more precisely through the platform, further boosting the ongoing rural revitalization.

(liujun215@jd.com)

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