Huakong Tsingjiao Information Science, a firm backed by Tsinghua University to explore the application of Multi-party Computation (MPC) technologies in Usense’s data services, passed an authoritative financial application test from the National FinTech Evaluation Center in May.

The qualification certificate that MPC technologies-backed Huakong Tsingjiao Information Science received from the National FinTech Evaluation Center in May. [Photo/thholding.com.cn]

This test included a total of 90 items. Excluding the five inapplicable items related to financial business systems, the MPC platform fully complied with the technical specifications released by the People's Bank of China (PBC) last year. Its pass rate proved to be in a leading position among the first batch of domestic competitors.

According to the results, the MPC platform is of high commonality to meet basic functional requirements. It supports multiple types of data, basic computing and application algorithms, covering the entire calculation process of data input, algorithm input, collaborative computing, result output and scheduling.

The platform has strict cryptographic certification to guarantee information security.  It is compatible with national encryption algorithms in product implementation. It also adopts security technologies such as identity authentication, information storage, data use authorization and abnormal fault tolerance.

The product also realizes a high-performance computing framework, clustering and scaling solutions to meet funding/non-funding, real-time/non-real-time financial applications.

At present, data has become a key production factor, especially in the financial industry. The deputy head of the PBC, Fan Yifei, pointed out that it is necessary to use MPC and other technologies to help guide the allocation of financial resources to key areas and the weaker links in financial development.

The company will help activate the potential of data elements and build independent and controllable data fusion facilities based on the test results, so as to promote the digital transformation and high-quality growth of the financial sector.