All judicial procedures related to financial cases such as case filing, proofing and trial can now be completed online after the launch of the Zhixin Cloud Trial System on March 13, addressing the evidence storage and submission problems with blockchain and 5G technologies.
The system, jointly developed by Qianhai Cooperation Zone People’s Court, Tencent Computer System Co. Ltd. and WeBank, is connected to the “Mobile Micro-court” mini program on WeChat to share data and functions.
Evidence will be stored and used in a comprehensive and convenient manner in the system. Transaction data such as electronic contract signing, contract performance and contract payment collection will be stored on the blockchain in real time. In case of a dispute, the transaction data will be verified via the blockchain before being submitted to the court to ensure integrity and authenticity.
Records of online trials and video mediation will also be stored on the blockchain. The evidences and transcripts from both parties will be demonstrated and confirmed online and legal documents will be delivered to litigants by e-mail and short message service (SMS), making trial procedures more efficient.
The system is also an improvement to the current online mediation platform of Qianhai court. Various mediation methods offered by industry insiders, lawyers and legal experts are introduced to optimize the diversified dispute resolution mechanism for financial cases and reduce burden for litigants.
The system is expected to provide judicial protection and technical support to Qianhai’s financial industry, promote the agglomeration and innovation of the financial industry, and enhance the core competitiveness of the financial industry.
The system is currently in trial operation at the Qianhai court and WeBank and will be promoted in courts across Shenzhen and the city’s banking industry.
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