VRV and Ancun Combine to Create World's First Blockchain Box in China

BEIJING, June 10, 2020 /PRNewswire/ -- Chinese tech companies Beijing Beixinyuan (VRV) and Hangzhou's Ancun Technology (Ancun), announced today the forming of a groundbreaking partnership to bring Blockchain into the mainstream with the world's first plug and play Blockchain solution.

The Blockchain Box is a sophisticated piece of hardware that allows physical or cloud servers to "upload" or save information directly to the Blockchain Box. As an easy to use, plug and play device, organizations can immediately unlock the power and authenticating properties of Blockchain without the extensive technical setup that would be required without the solution.

Addressing the Universal Problem of Data Ownership

The rapid digitization of our world has made many aspects of life more convenient and trouble-free but has also given rise to several complex problems. Of the more than 20,000 civil cases that were disputed in China in 2018, 73% involved the use of electronic evidence, including chat logs, emails, mobile phone messages, and Weibo and blog content.

This reliance on electronic evidence raises a severe issue of legitimacy and credibility; as was reflected by findings from the Chinese Document Judgement Network that only 7.2% of this submitted evidence made a clear case.

As the problem develops, authorities, especially in China, are pouring more and more resources into finding potential solutions. Head of Eastern China Ningbo's Internet Court, Zhang Jingshu notes that "the Ningbo Internet Court attaches great importance to the quality of electronic data. As the first Internet Court to utilize blockchain technology supported electronic evidence in the country, we have seen a satisfactory increase in the quality of this evidence and believe it also maximizes the impact of the judicial system."

Creating Something Unique AND Digital

Looking past the hype of cryptocurrencies as investment vehicles, both VRV and Ancun understand the true value of Blockchain to lie in the ability for people and organizations to create something that is both unique and digital - something that was impossible to do before now.

This incredible breakthrough sees its greatest use case in protecting intellectual property rights and creating transparent and untamperable electronic evidence. With direct reference to VRV and Ancun's blockchain box, Jiang Renshuang, Vice President of North-East China Qingdao's Internet Court, also notes that "the deployment and use of blockchain box can further improve the performance of court cases."

In China, given the favourable position of government and judicial forces, blockchain adoption in the field of intellectual property rights and electronic evidence will contribute to creating a fairer and more just society. VRV and Ancun's blockchain box is primed to lower the barrier to entry and help bring this power of Blockchain to more people and organizations.

For more information on the world's first plug and play blockchain solution, visit www.vrv.com.cn.

About Beijing Beixinyuan

Beijing Beixinyuan Software Co., Ltd. (VRV) was founded in 1996 and listed on the Shenzhen Stock Exchange GEM in 2012 (Code: 300352). Beixinyuan is one of the leading enterprises focused on information security in China; specifically in the areas of big data security, communication security and general applications. The company is divided into three core business segments: information security and localization credibility, mobile office and secure communications, community support and health care, and is committed to its role as a comprehensive solution provider of smart security in the era of 5G.

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SOURCE Beijing Beixinyuan Software Co., Ltd. (VRV)