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In China the Statutory Social Security Scheme accumulates a tremendous volume of individual data, arguably the largest and most valuable database in the world. However, primarily due to privacy protection and data security concerns, these data are not effectively shared even across the different institutions that comprise the Statutory Social Security Agencies, let alone with other departments and agencies across the general Healthcare System.
Against this backdrop, in order to safely access to and utilize this rich social security data, on February 2018, the Research into the Security Supervision Mechanism for Social Security Data Socialization (hereafter referred to the “Research”) was jointly established by the Information Center of the Ministry of Human Resources and Social Security (MHRSS), the China Social Insurance Association (CSIA), China Unicom, Tsinghua Unigroup and THEKEY. This partnership aimed at promoting and exploring security standards and supervision mechanisms for social security data in application scenarios such as commercial insurance, finance, credit investigation, etc.
Security Supervision Mechanism for Social Security Data Socialization Research Seminar hosted by THEKEY
On August 30th, the mid-term evaluation seminar for this Research was held in Beijing, with over 50 government officials attending the seminar, among which included Yanli Zhai, Director of Information Center, Xiaozhou He, Deputy Director of Social Security Center, Weimin Li, Deputy General Director of Social Security Fund Administration Bureau, Xi Jing, Director of Decision Support System Administrative Office, Jiang Jia, Deputy General Director of Pension Insurance Bureau and many other officials from both central, municipal and provincial departments across MHRSS, as well as across the Chinese Academy of Labor and Social Security, Willis Towers Watson, China CITIC Bank, GF Fund Management, Bosera Funds, and others.
The seminar was designed to demonstrate and evaluate research progress, discuss the ongoing developing plan, and gather opinions and suggestions from the officials, experts and scholars. Xi Jing, Director of Decision Support System Administrative Office of MHRSS, introduced the chief achievements of China’s social credit system with respect to human resources system and social security over recent years.
THEKEY’s Dr. Yidong King introduced the rationale and the progress of the research. According to Dr. King, an optimal Data Security Supervision Mechanism can only be achieved through the integration of technical, legal and policy solutions. He further introduced the Data Capacity Open Platform as the core of the ideal solution, which technically insures that “the data will never leave the custody of the government, and data can never be downloaded”.
Dr. Yidong King from THEKEY introducing the Research
China Unicom, a world-leading telecommunication solution provider, and also the strategic technical partner of THEKEY, gave their own speech providing further elaboration on the technical solutions of the Research.
“Social security data socialization is of great significance in China. However, it must be conducted under the circumstance that the data is well secured in the dynamic and changing environment”, Xiaoyi Hu, former Vice Minister of MHRSS and Chairman of CSIA, commented during the seminar.
Social security data socialization aims to safely provide access to and utilize the rich social security data across the various application scenarios beyond the healthcare industry, in industries such as commercial insurance, finance, credit investigation, etc. Efficient and effective identity verification (IDV) is fundamental to the socialization and commercialization of social security data.
As a pioneer of providing IDV solutions using national big data, THEKEY is now deploying its proprietary Blockchain based Dynamic Multi-Dimension Identification (BDMI) technology, which processes social security data to generate real time, comprehensive, accurate and reliable IDV results. Currently, the personal identity data of over 210 million people are connected to THEKEY platform on a real-time basis.
In the near future, this Research will incorporate more application scenarios across THEKEY’s various pilot cities, such as instant reimbursement in commercial insurance, one-stop payment post treatment, etc.
Finally, the data security supervision standards and entry criteria, as well as the supervision mechanism for enterprises in the social security data socialization field, will also be formulated accordingly, which will gradually deliver ever larger-scale applications of social security data and benefit to the greater society and its people. THEKEY’s BDMI technology will also be embedded to provide accurate IDV results and enhance the efficiency of the applications.
THEKEY is a decentralized ecosystem of Identity Verification (IDV) tools integrating national big-data and the blockchain. THEKEY’s project team is now developing its identification verification (IDV) tool with blockchain using its proprietary Dynamic Multi-dimension Identification (BDMI) platform, uniquely using Personally Identifiable Information (PII) that has been exclusively authorized by the Chinese Government. THEKEY token (TKY) is the only method by which to settle smart contracts signed between all participants across THEKEY Ecosystem. THEKEY testnet was launched in May 2018, and its mainnet is scheduled to be released at the end of this year. TKY is currently tradable across a number of exchange platforms such as HitBTC, Bit-Z, KuCoin, Lbank, Coinrail and LATOKEN.
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