FISCO BCOS Overview¶
FISCO BCOS is an open-sourced, cross-industry, collaborative, and secure blockchain platform. Two major camps of blockchain technology - public and consortium chains, to better serve the general public, open consortium chain is the perfect choice for enterprises to unlock the potential of collaborative businesses model. FISCO BCOS is born to support open consortium chain applications, by supporting multiple chains, and cross-chain communication.
The community - Financial Blockchain Shenzhen Consortium (FISCO) is established on May 31, 2016. It has attracted more than 100 members including financial institutions and financial information service companies so far. The first members include the following organizations: Beyondsoft, Huawei, Shenzheng, Shenzhou Digital, Forms Syntron, Tencent, WeBank, Yuexiu Jinke.
FISCO BCOS is developed based on the existing BCOS open-sourced platform. Focusing on collaborative businesses model cross industry, considering from multiple dimensions such as business suitability, performance, security, normality, technical feasibility, operation & governance, and cost, to finally provide a blockchain solution.
Based on FISCO BCOS’s blockchain platform, different blockchain scenarios can be quickly built, with following benefits:
- For banking institutions, it can reduce the settlement cost, improve the efficiency of the operation of the middle and back offices, and improve the automation of the process.
- For non-banking financial institutions, it can enhance the authority of equity registration, information deposit, reduce the risk of counterparty, solve data tracking and information anti-counterfeiting problems, and reduce the operating costs of auditing.
- For financial regulators, it provides consistent and easy-to-audit data. Through data analysis of inter-agency blockchains, financial services can be regulated faster and more accurately than traditional audit process, and anti-money laundering can be strengthened.
- Others, in cross-border financial scenarios, it helps to achieve ledger sharing among the institutions, reduce the cost of inter-bank reconciliation and settlement, and dispute friction costs, thereby improving the processing speed and efficiency of cross-border businesses.
So, what is FISCO BCOS? It is a platform/community with software developers building blockchain frameworks and solutions.
The open source license for FISCO BCOS is GPL3.0.
Contribute on Github.
Read the Whitepaper.