pZJL Distributed Factoring Network Whitepaper V 1.0 Build up a valuable enterprise credit ecological network ZJL Distributed Factoring Network 2Directory1、 Sumary................................................................................................................7 1.1Background.....................................................................................................7 1.2Blockchain.....................................................................................................8 1.3Vision..............................................................................................................8 2、 Suplychainfinancebasedondecentralizedcreditsystem..................................9 2.1Overview........................................................................................................9 2.2Infrastructure-decentralizedcreditsystem..................................................10 2.2.1Meaningsofcredit.............................................................................10 2.2.2Blockchainmachinesoftrust...........................................................11 2.2.3Architectureandbusinesproceses.................................................12 2.3Aplicationscenario-suplychainfinance...................................................17 2.3.1Roleandmotivation-nedsanalysis..................................................17 2.3.2Businessprocesses.............................................................................18 2.4Projectadvantages.......................................................................................19 3、 Technicalframework..........................................................................................20 3.1Overview......................................................................................................20 3.2Systemarchitecture......................................................................................21 3.2.1Enterpriseidentitysystem.................................................................22 3.2.2Credentialstatements.......................................................................23 3.2.3Enterprisedataacquisition................................................................23 3.2.4Datastorage......................................................................................24 3.3Operationalmodules....................................................................................25 ZJL Distributed Factoring Network 33.3.1Decentralizationoftheenterprisecreditrating................................25 3.3.2FactoringbusinesmodelbasedontheZJLPlat........................25 4、 Routemap............................................................................................................27 5、 Organizationalstructure.......................................................................................28 6、 Usageofsaleproceds.........................................................................................30 7、 CoreTeam.............................................................................................................31 8、 Risks......................................................................................................................33 ZJL Distributed Factoring Network 4NOTICE NOTHING IN THIS WHITEPAPER CONSTITUTES LEGAL, FINANCIAL, BUSINES OR TAX ADVICE AND YOU SHOULD CONSULT YOUR OWN LEGAL, FINANCIAL, TAX OR OTHER PROFESIONAL ADVISER BEFORE ENGAGING IN ANY ACTIVITY IN CONECTION HEREWITH. NEITHER ZJL FOUNDATION LTD. THE FOUNDATION, ANY OF THE PROJECT TEAM MEMBERS WHO HAVE WORKED ON THE ZJL PLAT AS DEFINED HEREIN OR PROJECT TO DEVELOP THE ZJL PLAT IN ANY WAY WHATSOEVER THE ZJL TEAM NOR ANY SERVICE PROVIDER SHAL BE LIABLE FOR ANY KIND OF DIRECT OR INDIRECT DAMAGE OR LOS WHATSOEVER WHICH YOU MAY SUFER IN CONECTION WITH ACCESING THIS WHITEPAPER, THE WEBSITE AT HTP/WW.ZJLETH.COM OR ANY OTHER WEBSITES OR MATERIALS PUBLISHED BY THE FOUNDATION. Al contributions wil be applied towards the Foundation39;s objects, including without limitation promoting the research, design and development of, and advocacy for the innovative application of blockchain technology to build a self-evolving system for credit uation, using multi-dimensional and multi-level enterprise ination, as well as objective uation of enterprise credit ratings and index, thereby realising a transparent and reliable enterprise credit system and expand the credit value of enterprises. This Whitepaper is intended for general inational purposes only and does not constitute a prospectus, an offer document, an offer of securities, a solicitation for investment, or any offer to sel any product, item or aset whether digital or otherwise. The ination herein below may not be exhaustive and does not imply any elements of a contractual relationship. There is no asurance as to the acuracy or completenes of such ination and no representation, warranty or undertaking is or purported to be provided as to the acuracy or completenes of such ination. Where this Whitepaper includes ination that has been obtained from third party sources, the Foundation and/or the ZJL team have not independently verified the acuracy or completion of such ination. Further, you acknowledge that circumstances may change and that this Whitepaper may become outdated as a result; and the Foundation is under no obligation to update or correct this document in connection therewith. 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You acknowledge that you have read and understood the English language version of this Whitepaper. ZJL Distributed Factoring Network 7No part of this Whitepaper is to be copied, reproduced, distributed or diseminated in any way without the prior writen consent of the Foundation. 1、 Sumary1.1BackgroundIn the traditional supply chain finance, the centralized management mode often makes enterprises face the problems of high cost, low efficiency in evidence chain and monopoly by centralized institutions. As there is no overal commercial credit uation system and credit rating mechanism In every country in the world, enterprises cannot demonstrate their credit worthines, hence making it difficult to carry out self-compensated trade financing. The financial needs of enterprises can be met only through the traditional pledge or supply chain financing model, which is a great obstacle for social progres and the rational alocation of social resources. The root causes of the industry pain points, i.e. difficulty in obtaining financing are because the enterprise credit cannot be self-certified, cannot acumulate, and cannot be rated. The traditional financing model is version 1.0, relying on pledge of tangible asets to support enterprise credit. In the background of inclusive finance, supply chain finance wil enter the era of version 2.0. Through financial system innovation, including institutional innovation, institutional innovation and product innovation, inclusive finance alows enterprises more financing opportunities. However, from the perspective of credit, inclusive finance stil does not solve the problem of enterprise credit acumulation and self-certification, corporate financing stil has greater difficulties. Solving the problem of enterprise credit has become the inevitable direction of the re of supply chain finance, and even the whole financial industry. ZJL Distributed Factoring Network 81.2BlockchainSince Nakamoto put forward the concept of Bitcoin block chain in 2009, block chain technology has developed rapidly in the of encrypted digital asets. However, the blockchain is not only a kind of digital asets innovation, but also a technological innovation. The concepts of decentralization, disintermediation and distrust behind it reveals the possibility of building a new social development model. From technology geeks to enterprises and governments, more and more organizations are conducting research and application atempts on blockchain technology. The combination of distrust and disintermediation with the existing industry wil collide with the bright sparks, which provides the possibility for the promotion of industrial efficiency and the change of production mode. 1.3VisionThe goal of the Foundation is to innovatively apply blockchain technology to build a self-evolving system for credit uation, using multi-dimensional and multi-level enterprise ination, as well as objective uation of enterprise credit ratings and index, thereby realising a transparent and reliable enterprise credit system and to expand the credit value of enterprises. Through the acumulation of the enterprise individual credit value, we can together construct the bigger commercial prestige in the entire society. The ZJL Plat wil take the core enterprise39;s acounts receivable factoring busines as the breakthrough point to realize the enterprise credit value exchange circulation betwen different industries and different domains and to activate vigorous development of the entire ecosystem. ZJL Distributed Factoring Network 92、 Suplychainfinancebasedondecentralizedcreditsystem2.1OverviewThe ecosystem on the ZJL Plat comprises the decentralized credit system at the bottom and the financial busines at the application level. Credit network is the infrastructure of Unicom39;s credit and value. On this basis, a pilot application would be receivable factoring with les risk based on the core enterprise acounts, and with this the busines proces is reconstructed to improve the busines efficiency. With this, the financing problems of smal and medium-sized enterprises wil be solved. ZJL Distributed Factoring Network 102.2Infrastructure-decentralizedcreditsystem2.2.1Meaningsof/p