TechFlow News — On August 17, the 2020 Blockchain Ecosystem Cooperation Conference hosted by Alchemy Pay took place in Shanghai. Xin Sihai, Head of Information Technology and Blockchain at Sinochem Business Research Institute of Sinochem Group, delivered a keynote speech titled "BIDA Application: Commercial Digital Identity Based on Blockchain." Xin Sihai stated that digital identity is a set of specific digital sequences representing an entity in the digital world. Distributed digital identity based on blockchain offers advantages such as traceability, decentralization, data sharing, and enhanced security. BIDA holds broad application prospects in enterprise services, financial technology, digital government, 5G/edge computing, and other scenarios.
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