Fubon Financial

Fubon Financial Holdings Supports Blockchain Development by Sponsoring World's First Sports Blockchain - BraveLog

2017.01.04

Convinced by the prospect of blockchain technology, Fubon Financial Holdings sponsored "BraveLog," Taiwan's first non-financial blockchain application and the world's first sports blockchain. BraveLog was created for the purpose of recording sports data and players' participation history, and will be used for the first time at the "2017 Garmin LAVA Pingtung Dapeng Bay" held on the 7th~8th of January. In addition to recording performance data for triathlon athletes, BraveLog also has the potential to be used for ticketing, payment and insurance in the future. The attempt to promote health through sports is consistent with Fubon Financial Holdings' brand spirit of "positive influence."

BraveLog is a multi-purpose blockchain application developed by Taiwan Triathlon Co., Ltd. in joint effort with the Industrial Technology Research Institute (ITRI), AMIS and Microsoft. It incorporates AMIS' proprietary blockchain framework, Microsoft's Azure service, and ITRI's front-end system to create an advanced and secured sports data sharing platform.

Fubon Financial Holdings is dedicated to pursuing innovative financial service and has invested actively into financial technologies (FinTech). In 2015, the Company founded a "FinTech Office" that specializes in "coordinating group members and promoting innovation and technology-oriented customer service through FinTech." The FinTech Office currently operates with four main focuses, namely electronic payment, big data, biometric, and cross-industry alliances. It has invested significant resources into collaborating with local and foreign experts on the research and experiment of blockchain applications. Apart from researching the fundamental know-how, the office also places great emphasis on information security issues.

Chris Tsai, founder of Fubon Financial Holdings FinTech Office, said that cross-industry integration is Fubon's greatest strength in blockchain applications. The group not only employs a team of blockchain specialists that actively engage subsidiaries to develop new applications, it also takes the initiative in exploring blockchain alliances with outside parties. This cross-industry collaboration will maximize the effect of blockchain technology once it is applied in the future.

Fubon has long been a significant supporter of domestic sports events. This time round, the company chooses to sponsor sports activities by incorporating FinTech into sports events and creating the world's first blockchain-based sports service called BraveLog whose main purpose is to record sports data and maintain athletes' participation history. By establishing a credible source of competition data, the company hopes to capture every moment when athletes challenge themselves for their best performance.

Chris Tsai said that blockchain technology has more potential than just recording data when applied in the sports industry. It helps athletes understand their physical conditions, so that coaches may adjust the intensity of the athletes' training programs. The data may even prove useful in identifying, choosing and training national sports talents. In the future, sports statistics may be combined with insurance and medical data for applications such as life insurance modeling, claims risk calculations, etc. Blockchain is an innovation that offers virtually endless possibilities. Fubon is optimistic about the technology's potential to join different industry participants into exploring new opportunities and help Taiwan reach its next industrial milestone.