区块链给哪些行业带来变化了,区块链影响的行业
区块链技术的出现,给众多行业带来了变化,甚至可以说是颠覆性的变化。今天,我们就来聊聊区块链给哪些行业带来了变化,以及拓展的3个相关关键词:金融服务、数字资产、知识产权。
金融服务:区块链技术的出现,给金融服务行业带来了很大的变化。首先,区块链技术可以改善金融服务行业的效率,缩短交易流程,提高交易速度,节约费用。其次,区块链技术可以加强金融服务行业的安全性,提高安全性,防止钓鱼攻击和网络攻击。最后,区块链技术还可以改变金融服务行业的数据共享,提高数据共享的安全性和可靠性。
数字资产:区块链技术的出现,也给数字资产行业带来了革命性的变化。首先,区块链技术可以改善数字资产行业的效率,缩短交易流程,提高交易速度,节约费用。其次,区块链技术可以加强数字资产行业的安全性,提高安全性,防止钓鱼攻击和网络攻击。最后,区块链技术还可以改变数字资产行业的数据共享,提高数据共享的安全性和可靠性。
知识产权:区块链技术的出现,也给知识产权行业带来了很大的变化。首先,区块链技术可以改善知识产权行业的效率,缩短交易流程,提高交易速度,节约费用。其次,区块链技术可以加强知识产权行业的安全性,提高安全性,防止知识产权的盗用和盗版。最后,区块链技术还可以改变知识产权行业的数据共享,提高数据共享的安全性和可靠性。
总而言之,区块链技术的出现,给金融服务、数字资产、知识产权等行业带来了革命性的变化,改善了行业的效率,提高了安全性,改变了数据共享。未来,区块链技术将会给更多行业带来变化,推动行业的发展。
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A. What are the application prospects of blockchain?
The application prospects of blockchain are mainly in the financial field, Internet of Things and logistics, public services, digital copyright, Insurance field.
1. Blockchain has huge potential application prospects in financial fields such as international exchange, letters of credit, equity registration and stock exchanges. The application of blockchain technology in the financial industry can eliminate the need for third-party intermediaries and achieve direct point-to-point connection.
2. Blockchain can also be naturally combined in the Internet of Things and logistics fields. This field is considered to be a promising application direction of blockchain. Establishing credit resources in the blockchain can double improve the security of transactions and improve the convenience of IoT transactions. Save time and cost for smart logistics model applications.
3. Blockchain is closely related to people’s production and life in public management, energy, transportation and other fields. The decentralized and fully distributed DNS service provided by the blockchain can realize domain name query and resolution through point-to-point data transmission services between various nodes in the network.
4. Through blockchain technology, works can be authenticated, proving the existence of text, video, audio and other works, and ensuring the authenticity and uniqueness of ownership. After the rights of the work are confirmed on the blockchain, subsequent transactions will be recorded in real time, realizing full life cycle management of digital copyright, and can also be used as a technical guarantee in judicial evidence collection.
5. In terms of insurance claims, insurance institutions are responsible for fund collection, investment, and claims settlement, and often have high management and operating costs. Through the application of smart contracts, there is no need for the policy holder to apply or the insurance company to approve it. As long as the claim settlement conditions are triggered, the insurance policy can automatically settle claims.
(1) Which industries will blockchain bring changes to? Further reading:
The core technology of blockchain
1 , consensus mechanism, through the voting of special nodes, completes the verification and confirmation of transactions in a very short time; for a transaction, if several nodes with unrelated interests can reach a consensus, it can be considered that the entire network can also do so. Reach a consensus. The goal of the blockchain consensus mechanism is to enable all honest nodes to maintain a consistent view of the blockchain.
2. Asymmetric encryption requires two keys for encryption and decryption. These two keys are the public key and the private key. The public key corresponds to the private key. When the public key is used in the encryption process of data, it can only be decrypted by using the corresponding private key. On the contrary, when the private key is used in encrypting the data, only the corresponding private key can be used to decrypt the data. Only the corresponding public key can be decrypted.
B. What is blockchain technology and how does it change business and financial models
Blockchain technology is a distributed ledger technology that Allows multiple participants to jointly maintain a secure, transparent and immutable record on a decentralized network. Blockchain technology was originally designed for the digital currency Bitcoin, but is now widely usedMany other areas.
The core features of blockchain technology include:
Decentralization: Blockchain has no central control agency, and data is distributed on various nodes in the network, which makes it decentralized. The centralization feature reduces the risk of single points of failure.
Transparency: Transaction records on the blockchain are public to all participants, and anyone can view these records. This helps increase trust and reduce the risk of fraud.
Immutable: Once a transaction is recorded on the blockchain, it cannot be easily modified or deleted. This guarantees data integrity and security.
Smart contracts: Transactions on the blockchain can be automatically executed to implement "smart contracts", which automatically execute corresponding operations when specific conditions are met. This helps simplify complex business processes and reduce costs.
Blockchain technology has had a profound impact on business and financial models, which is mainly reflected in the following aspects:
Reducing costs: Blockchain technology can reduce intermediary links and reduce costs. transaction costs and operating costs. For example, by adopting blockchain for cross-border payments, remittance fees can be significantly reduced.
Improving efficiency: The automation and smart contract features of blockchain technology help improve the efficiency of business processes, reduce manual intervention, and reduce error rates.
Enhance trust: The transparency and non-tamperability of blockchain technology help to establish a reliable trust system, reduce the risk of fraud, and provide better protection for business activities.
Innovative business models: Blockchain technology has spawned many new business models, such as decentralized finance (DeFi), digital asset trading, supply chain finance, etc. These new business models have brought disruptive changes to existing industries.
In short, blockchain technology, as an emerging technical means, is gradually changing the landscape of business and finance. With the continuous development of technology and the in-depth promotion of applications, blockchain is expected to have a more extensive and far-reaching impact in the future
C. What is blockchain technology and how does it change business and financial models
C. p>
What is blockchain technology and how does it change business and financial models? Joining the EU and NATO is just a cake-cake given by the West to satisfy hunger. In fact, at least in the current conflict between Russia and Ukraine, and before Russia and Ukraine fail to completely resolve the border issue, the dreams of the EU and NATO are just a dream for Ukraine! In Zhuang Ci's view, the positioning of basic subject research centers should be high enough and can be built on the basis of research institutes or universities with good foundations. The government should provide sufficient and stable support funds. An ideal operating model is to follow the example of Japan. "World's Top International Research Center (WPI)" program.
D. What are the application fields of blockchain technology?
Financial field
Blockchain is used in international exchange, letters of credit, equity registration and stock exchanges, etc. The financial field has potentially huge application value. Apply blockchain technology to financial institutionsIn the industry, it can eliminate the third-party intermediary link and achieve direct point-to-point docking, thereby greatly reducing costs and quickly completing transaction payments.
Internet of Things and Logistics Fields
Blockchain can also be naturally combined in the Internet of Things and logistics fields. Through blockchain, logistics costs can be reduced, the production and delivery process of items can be traced, and the efficiency of supply chain management can be improved. This field is considered a promising application direction of blockchain.
Public services
Blockchain is closely related to people’s production and life in public management, energy, transportation and other fields, but these The centralized nature of the field also brings some problems, which can be transformed with blockchain. The decentralized, fully distributed DNS service provided by the blockchain can realize domain name query and resolution through point-to-point data transmission services between various nodes in the network, and can be used to ensure that the operating system and firmware of an important infrastructure are not Tampered, you can monitor the status and integrity of the software, detect bad tampering, and ensure that the data transmitted by systems using IoT technology has not been tampered with.
Digital copyright field
Through blockchain technology, works can be authenticated, proving the existence of text, video, audio and other works, and ensuring the authenticity and uniqueness of ownership. After the rights of the work are confirmed on the blockchain, subsequent transactions will be recorded in real time, realizing full life cycle management of digital copyright, and can also be used as a technical guarantee in judicial evidence collection.
Insurance field
In terms of insurance claims, insurance institutions are responsible for fund collection, investment, and claims settlement, and often have high management and operating costs. Through the application of smart contracts, there is no need for the policy holder to apply or the insurance company to approve it. As long as the claim settlement conditions are triggered, the insurance policy can automatically settle claims.
Public Welfare Field
The data stored on the blockchain is highly reliable and cannot be tampered with, so it is naturally suitable for use in social welfare scenarios. Relevant information in the public welfare process, such as donation projects, fundraising details, fund flows, recipient feedback, etc., can be stored on the blockchain and transparently and publicly disclosed conditionally to facilitate social supervision.
E. What are the applications of blockchain in other industries
1. Monetary and fiscal policies. Central banks of many countries, including China, are paying attention to blockchain technology. It is possible to record currency in every transaction and know who and which industries are transferring currency. The central bank can use blockchain technology and big data analysis to implement precise fiscal and monetary policies. In the past, after the central bank issued currency, it could only be judged based on the market's reaction, past experience and macro data, and monetary and fiscal policies tended to lag behind. At the same time, blockchain can prevent money laundering, which is more efficient and scientific than the demonetization order of the Modi government in India.
2. For the clearing and settlement of financial transactions, banks essentially serve as safe warehouses and transmission hubs for funds.New, and blockchain as a digital, secure and tamper-proof ledger, basically have similar functions. This means that the disruptive wave of blockchain-based fraud may have a profound impact on banks in the future. In fact, UBS and the British bank Barclays have already begun experiments using blockchain technology to speed up back-end settlement functions. Some banks even say that blockchain can reduce middleman costs by at least $20 billion.
3. E-commerce payments and transfers. In a recent report, the World Economic Forum believed that decentralized payment technology may change the money transfer business that has remained unchanged for more than 100 years. system organization. Blockchain has the ability to bypass these clunky systems and create a more straightforward payment process. This will cross borders, have no intermediaries, cost very little, and most importantly, transfers can be completed almost instantaneously.
F. What benefits does the application of blockchain technology bring to enterprises?
Blockchain classification:
1 Private chain
Refers to a blockchain with certain centralized control. Just using the general ledger technology of the blockchain for accounting, it can be a company or an individual, with exclusive write permission to the blockchain. This chain is not much different from other distributed storage solutions. The only participating nodes are the users themselves, and data access and use are subject to strict permission management. Since the alliance chain has certain centralized control, it can also be considered to belong to the category of private chain.
Features: Since the user has the final say, the data inside has no characteristics that cannot be changed, and there is not much protection for third parties. Generally used for internal audit. The vice president of technology at Huobi Network believes that private chains do have a large number of scenarios that can meet the needs of the real world. Limited decentralization makes it easier to reach consensus, can make transactions faster and more efficient, and can provide more controlled function. Decentralization is the core value of blockchain technology. If the private chain cannot fully utilize the decentralized trust foundation constructed by the public chain in practice, its development space will be limited.
2 Public Chain
Public blockchain is the earliest blockchain and the most widely used blockchain at present. It refers to a blockchain like the Bitcoin blockchain that is completely decentralized and not controlled by any institution. Any individual or group in the world can send a transaction, and the transaction can be effectively confirmed by the blockchain, and anyone can participate in its consensus process. Participants in the consensus process maintain the security of the database through cryptography and built-in economic incentives.
Features: Completely open, uncontrolled, relying on encryption technology to ensure security.
3 Alliance Chain
A certain group designates multiple pre-selected nodes as bookkeepers. The generation of each block is jointly decided by all pre-selected nodes. Other access nodes You can participate in transactions, but do not participate in the accounting process (essentially still managed accounting, but become distributedBookkeeping, the number of pre-selected nodes, and how to decide the bookkeeper of each block have become the main risk points of the blockchain). Anyone else can make limited inquiries through the open API of the blockchain.
The nodes participating in the blockchain are selected in advance, and there are likely to be good network connections between the nodes. Other consensus algorithms other than proof of work can be used on such a blockchain. For example, a certain blockchain has been established among 100 financial institutions, and it is stipulated that more than 67 institutions must agree to reach a consensus.
Prospects:
The development of blockchain technology has also brought about changes in the operational concepts of various industries. New technologies and new concepts have promoted new developments in various industries. This kind of The impact of the driving force on society and the promotion of economic activities are also huge. Many new industry phenomena will occur one after another, and the public is also waiting and watching, hoping that this brand-new technology will be used by various industries and better benefit all industries. .
Blockchain is a new application model of computer technologies such as distributed data storage, point-to-point transmission, consensus mechanism, and encryption algorithms. The so-called consensus reserve mechanism is a mathematical algorithm in the blockchain system to establish trust and obtain rights and interests between different nodes.
G. In what fields is blockchain suitable for application?
The first one is the information security industry.
The second one is the bill business field
The third one is the payment and settlement business.
Fourth, identity/account authentication business.
Fifth, each node participating in the maintenance of the equity proof blockchain can obtain a complete data record. Using the characteristics of reliable and collective maintenance of the blockchain, the rights of the owners of equity can be confirmed.
Blockchain technology is really powerful. With the advancement of the times, this technology may change the development direction and trend of the financial industry, and because the blockchain technology itself has large capacity, high-speed computing, security, and convenience And other characteristics have laid a strong foundation for the advancement and popularization of technology.
H. In what fields can blockchain be applied?
According to incomplete statistics from Capital Lab, there will be a total of 1,290 global blockchain application cases in 2021. The number of cases is the same as in 2020. Compared with 1304, it is basically the same. These cases cover three major application types: financial applications, government applications and industry applications. Among them, financial applications accounted for 25% and government applications accounted for 12%; except for the financial industry, applications in other industries accounted for 63%. Blockchain technology is accelerating its expansion into the industrial application market.
Take the blockchain unicorn company Qulian Technology as an example. Qulian Technology’s products are widely used in key fields such as finance, people’s livelihood, government affairs, justice, energy, manufacturing and other key fields. With 180+ typical applications, it is the industry leader. The blockchain enterprise with the richest implementation scenarios. In the financial field, Qulian Technology has implemented cases such as accounts receivable, asset securitization, credit insurance, digital warehouse receipts, and comprehensive foreign trade services; in the government affairs field, Qulian Technology has deeply explored the field of government affairs and provided smart government and digital services for government affairs. identity, electricityInfrastructure such as sub-licenses, provident fund interconnection, and trusted data storage; in the field of people's livelihood, Qulian Technology has used the characteristics of blockchain technology to build platforms for house rental, pension custody, vaccine traceability, lottery notarization, charity traceability, etc.; in the judicial In the field of energy, Qulian Technology uses blockchain technology to empower the judiciary, providing solutions such as electronic evidence platforms, blockchain electronic contracts, and prison scoring assessment platforms; in the energy field, Qulian Technology uses blockchain technology to fit the needs of energy interconnection. To meet the demand for value transfer, platforms such as distributed power trading and new energy charging piles have been developed.
Currently, Qulian Technology has established a number of joint ventures with well-known enterprises such as Haier Group, China Enterprise Cloud Chain, and Shulan Group to deploy blockchain + finance, Internet of Things, medical care, justice, smart government affairs, and smart In the fields of cities, life services and other fields, we actively build industry ecology and help the digital transformation of society.
I. What are the applications of blockchain in the industry
——The following data and analysis are from the "Business Model Innovation and Investment in China's Blockchain Industry" by the Qianzhan Industry Research Institute Opportunity in-depth analysis report.
Currently, blockchain applications have extended from a single digital currency application to various areas of the economy and society, such as the financial industry, copyright protection, traceability and anti-counterfeiting, energy industry, sharing economy, Internet of Things, and many more in the field.
Financial field: the broadest application prospects. Although in the long term, blockchain has application potential in many aspects. But in general, blockchain currently has the best application prospects in the financial field, and related technologies are also developing the fastest. Blockchain systematically solves the pain points and stubborn problems in the entire business chain for financial institutions. Its "systematicity" is mainly reflected in three aspects: Blockchain technology can be applied to different banking services, from payment and settlement to bill circulation and From supply chain finance to more complex securities issuance and trading and other core business areas, financial institutions and technology companies are actively exploring and trying. The benefits brought by blockchain technology will benefit all transaction participants, including banks, bank customers, and bank partners (such as platform companies, etc.). Most of the pain points currently existing in various processes of financial services, such as efficiency bottlenecks, transaction delays, fraud and operational risks, are expected to be solved after the application of blockchain technology. For example, a large number of manual operations, manual verification and approval work in the existing process will be automated, paper contracts will be replaced by smart contracts, and losses due to system errors will no longer occur in the transaction processing link.
Copyright field: Blockchain technology solves copyright maintenance problems. With the development of the Internet, digital publishing has formed a relatively complete industrial chain, bringing considerable income to online writers and other relevant participants. But on the other hand, infringement and piracy restrict the further development of digital publishing, and all parties involved are suffering from it. Although the country has introduced various policies to solve the problem of copyright protection, it is difficult to fundamentally solve it due to limited technical means.
The mathematical principles of blockchain technology solve the problem of ownership confirmation during the transaction process, and record, transmit and store the results of value exchange activities.They are all credible and can completely solve the problem of copyright protection. Once the information recorded in the blockchain is generated, it will be permanently recorded and cannot be tampered with. Only by possessing more than 51% of the total computing power of the entire network can it be possible to modify the latest generated block record.
J. Can blockchain change 10 cases of existing business
This article introduces the current 10 main usage scenarios of blockchain:< p>(1) Tracking products in the global supply chain;
This is a typical usage scenario of blockchain technology in security traceability. It can promote information tracking, query, verification and anti-counterfeiting of commodity circulation, and can significantly improve the efficiency of some links. efficiency. However, the role of the blockchain can only be reflected in the chain, but it cannot cover the parts operated by people below the chain.
(2) Guarantee 3D printing quality and tracking;
(3) Create personalized and lifelong “one-stop” medical records;
Blockchain healthcare can track anyone’s complete medical history, such as medications , illnesses, injuries, and transactions across health systems, physicians, pharmacies, and health plans, and empowering patients to control their own data. Blockchain can also transfer insurance payments: smart contracts can automatically trigger insurance provisions when a clinic confirms a patient has received treatment, and prevent fraudulent or inaccurate claims. Some startups, such as the UK's Medicalchain, blockchain company Gem, MIT and other companies and universities are experimenting with this use.
(4) Simplify trade logistics;
Traditional trade involves complex import and export procedures, and all participants in the entire chain require a large number of paper documents to interact, resulting in high communication costs. Blockchain can optimize this system. Maersk and IBM have created a platform that integrates services such as liner, warehouse, freight forwarding, ports, customs, exporters, importers and trade finance banks into the trade ecosystem, on a data exchange platform running on the blockchain interoperate.
(5) Facilitate and secure customs trade;
Blockchain has been tested in many customs departments, including the United Kingdom, South Korea, Singapore, Costa Rica, Mexico, Peru and the 15-nation East African Group. In 2017, U.S. Customs developed 14 use cases for blockchain, which are currently being tested and evaluated. Blockchain will be particularly useful for the UK: when the UK leaves the EU customs union, its number of customs declarations will increase from 55 million to over 250 million (non-EU trade plus EU trade, which previously did not require customs documents), which is currently the case with UK software The program cannot fully handle it. Blockchain can help: It can trace the origins of products and help determine the origin and appropriate tariffs for goods, such as those destined to join the European Union’s tariff package. For the UK’s 28 border agencies, imported products such as food, safety and intellectual property compliance need to be analyzed, and blockchain projects can be shared securely and transparently in real time.
(6) Prevent voting fraud and protect voter identities;
Blockchain security and identity protection features can reduce fraud and encourage voters to believe their votes are anonymous,
increase turnout,Make the election immediate. Using the technology, voters can scan their thumbs with their smartphones and cast their ballots during their Election Day commute. If everyone votes via the blockchain, no one can vote twice. Voting records are inviolable, and the ID of each ballot is recorded instantly at every polling location.
(7) Launch crop insurance for farmers;
Crop insurance customized to specific farmer needs is often very expensive, and blockchain technology can reduce costs by determining trigger conditions and automating execution. For example, farmers can insure against extreme weather. If extreme weather affects a harvest, a blockchain-based insurance contract would immediately recognize this and pay the farmer’s claim.
Establishing a network of energy producers and users;
Decades ago, some companies introduced smart grids to provide intermediary services for energy producers and demanders. Now, blockchain can optimize smart grids and provide energy producers and consumers with a regional intermediary energy trading platform. TenneT and Brooklyn-based startup LO3 Energy are both trying this business.
(9) Create smart cities that can operate independently;
Blockchain can now amplify the impact of Douyou IoT on city operations. For example, Dubai has a pilot project to implement blockchain in city services. Dubai plans to use blockchain for more than 100 million annual government documents by 2020, including all visa applications, bill payments and license renewals.
(10) Automatic payment to the exporter when the goods arrive at the foreign buyer;
Blockchain changes the information asymmetry in existing international trade by allowing both parties to the transaction to access the same data and real-time digital files question. There is no need to store multiple copies of the same document across different databases for different entities. When goods arrive marked by sensors connected to the smart contract, a transfer of money from the buyer to the seller is automatically triggered.
2. Ten major problems currently faced by the blockchain industry and their analysis
2.1. Is the data on the blockchain really immutable?
Can one of the core features of blockchain, "anti-tampering", really be realized? And is "tamper-proof" really beneficial?
The report pointed out that the blockchain is not completely immutable and gave three weaknesses of the blockchain:
(2) It may be hacked, and 51% of the chain is controlled by people who want to tamper with the results.
(3) The "garbage of garbage" problem has existed for centuries. The value of a blockchain depends on the data on the chain, and data entered into the blockchain may be inaccurate or fraudulent. One solution is to use sensors instead of manually entering data.
The so-called "51% attack" is to take advantage of computing power to cancel payment transactions that have already occurred. If someone has more than 50% of the computing power, he can find the random numbers needed to mine the block faster than others, so he actually has the absolute and effective right to decide which block. From a technical level, a 51% attack is achievable, but the cost is very high for the earliest cryptocurrencies such as BTC. They have built a huge network, which is whyThe reason why BTC’s network has remained stable for 10 years. But with other counterfeit currencies, the risk is greater.
In addition, there is no direct benefit for the attacker to simply launch a 51% attack, and it must be linked to specific short selling and false recharge. Specifically, it is often a double spend on a certain transaction. The attacker stops attacking once. Continuous attacks are costly and will stop once successful; second, the community can issue an emergency pudding and add checkpoints to the blockchain. The community urgently agreed that the attacker’s blockchain was invalid. Therefore, there are many ways to deal with the 51% attack, and it will not be the end of the world for a blockchain.
2.2. Who owns and maintains the blockchain? And who asked about the appearance?
Responsible for problems and losses?
Since the blockchain is a decentralized user community, who will maintain it? Shouldn’t it require human adjustment and maintenance just like a website?
For permissioned chains, such as alliance chains and private chains, there is no need for incentives such as tokens to motivate people to manage, there is a manager who manages the entire network. Since there are fewer users in the network, coordination costs are relatively low. However, such networks are susceptible to security challenges, and as the number of network users increases, coordination costs will increase.
For consortium chains and private chains, since they are still very centralized organizations, the verification nodes are identified by the organization itself, so the management model is not very different from traditional centralized institutions. However, for public chains, there is no leader who coordinates the entire network system, and only relies on token incentives to coordinate different interest groups, which undoubtedly increases the instability of the entire ecosystem. At present, the development of the blockchain industry is in a very early stage. In addition to the relatively mature decentralized governance of BTC, in the governance of public chains such as ETH and EOS, the founder development team plays a very core role and is the "rules" of the public chain. "Maker", although the entire ecosystem has achieved partial decentralization, the founders still play a pivotal role in the direction of strategic development. Therefore, the author believes that the decentralization of blockchain can only be an ultimate goal that is constantly approaching. From the birth of the project to its maturity, its degree of decentralization should continue to increase, as shown in the figure below. In the early stages of project development, the founder and his development team play an absolute guiding role in the entire ecosystem. As the project ecosystem matures and the number of participants continues to increase, the original development team should gradually weaken its guiding role. The entire network maintenance needs to be decided jointly by all developers and users in the ecosystem. As for the final network problems, they can only be borne by all participants.
Figure: Schematic diagram of the relationship between the degree of centralization and development stages of blockchain projects
2.3. Are smart contracts really smart?
The second reason why smart contracts are not yet that smart is that their entries can be manipulated by evil actors, such as contracting parties or miners who add transaction records to the blockchain's ledger of past transactions. One study showed that 3.4% of ETH smart contracts are vulnerable to hackers.
Smart contracts can indeed optimize many intermediate programs, but judging from current industry practice, they are far from being called smart.. A qualified smart contract should include all possible scenarios. Because the core essence of smart contracts is "to make the most just ruling even in the darkest environment."
The difference between Ethereum and Bitcoin is that Ethereum is Turing complete, and more types of contracts with more complex terms can be implemented through this platform. Of course, the cost of this is that the complex contract content makes it becomes more difficult to analyze. Typically, complexity is directly proportional to the probability of a vulnerability; the higher the complexity, the greater the probability of a vulnerability.
As for the concept "code is law" proposed by Ethereum, however, the code has attracted hacker attacks due to its own vulnerabilities, so it is not enough to form the authority of "law". Therefore, it needs the trust and endorsement of the government, lawyers, courts and other intermediary institutions. Compared with coordination, the current contract seems too rough.
2.4. Is there identity theft on the blockchain?
3% of social media accounts are fake, so can fake accounts be created on the blockchain? Can identities on the blockchain be stolen?
Blockchain can create a personal database for users whose data cannot be tampered with, but how to meet the user's "tampering" needs? This may be a paradox in the development of blockchain technology. Regarding user needs, we may need to start from the perspective of on-chain standards and authority management.
2.5. Can blockchains be connected to each other?
One blockchain records the data of an entity or user in one way, while another blockchain records the same data of the same entity or user in another way. In a fragmented system, multiple account books are not connected to each other, which will form a world of "operational islands", or "data islands". Users need to register for multiple systems at the same time to conduct transactions with different people for different purposes.
In view of the value transfer needs of different chains, cross-chain technology is the key, which can effectively connect different alliance chains or private chains, and promote the outward expansion and connection of blockchains. The current mainstream cross-chain technologies include Notary schemes, Sidechains/relays, Hash-locking, Distributed private key control, etc.
2.6. How does the blockchain connect to off-chain databases?
If one party's data and documents are off-chain, and the other party's data and documents are on-chain, can the two parties interact? In the company's database, can half of the company's data on the blockchain interact with the other half of the data?
These challenges are well known and are being addressed. For example, the same queries and analysis can be run in on-chain and off-chain databases. The risk is that data brought from on-chain to off-chain is no longer immutable, and researchers recognize that data security and aggregating, transforming and optimizing on-chain and off-chain data sets are significant challenges.
2.7. Can blockchain facilitate money laundering?
Money laundering is a hugeGlobal issues, amounting to US$1-2 trillion, accounting for approximately 2% - 5% of total global GDP. Banks and authorities are fighting back, spending about $8 billion a year to combat corruption. Banks around the world require KYC verification.
Due to the anonymous nature of the blockchain, especially the emergence of anonymous coins, BTC has been criticized by many people as a tool for money laundering. However, the anonymity of BTC is only anonymity on the chain. The interaction between people and the chain, and the interaction between BTC and legal currency will leave traces, and it is not as "lawless" as many media have promoted. Each BTC transaction requires the transfer of a corresponding address, and the transaction records of the address can be queried. In addition, the exchange of BTC and legal currency is conducted off-chain and cannot escape supervision. If the actual identity of any party in the transaction is exposed, then all parties involved in the transaction will have difficulty escaping recourse.
2.8. Will the blockchain consume all the energy in the world?
BTC has an amazing energy demand. Operating Bitcoin for one year requires the energy consumption of Ireland for one year. Because BTC’s POW consensus mechanism requires miners to mine for transaction verification. There are concerns that as the network increases and the value of BTC rises, energy demand will grow rapidly. In fact, miners themselves have incentives to prevent this from happening, and the scalability of the blockchain is limited by availability, energy costs, and the miners' own financial resources. The current alternative is the POS consensus mechanism. The POS mechanism selects validators based on the number of currency holders.
In fact, it can be seen that except for the early batch of cryptocurrencies headed by BTC, the vast majority of current blockchain projects have taken into account the disadvantages of POW and are constantly innovating consensus mechanisms to avoid excessive consumption of energy. Therefore, blockchain is not enough to cause such a huge consumption of energy.
2.9. Will blockchain take our jobs?
Regarding blockchain, if people can trade directly with each other, what impact will blockchain have on intermediaries such as banks and lawyers? Blockchain is unlikely to be a job killer; it will, like any technology, change the nature of work by changing companies’ business and revenue models.
When artificial intelligence becomes popular, people will continue to ask questions like this. On the one hand, we enjoy the convenience that technology brings us, but on the other hand, we are worried that technology will replace us. The biggest challenge of blockchain is not the technology itself, but changing the traditional profit distribution model. Blockchain technology can remove certain intermediary links, break the monopoly of many resources by centralized institutions, and thus change the interest pattern. This is also the most revolutionary point of blockchain.
2.10. Is the United States lagging behind in the development of the blockchain industry?
Globally, the blockchain industry in the United States is still in its infancy. Deloitte surveyed 1,053 executives in financial services, healthcare, technology industries, telecommunications, manufacturing and other industries in 2018. According to the survey, only 14% of American respondents believe that blockchain is used in their production, compared with 49% in China, 48% in Mexico, and 4% in the United Kingdom.0%, Canada is 36%. Plans are also lagging: 41% of U.S. companies plan to invest $1 million or more in blockchain, compared with 85% in China, 74% in Canada, 72% in the United Kingdom, and 65% in Mexico.
According to the "Blockchain China-U.S. Development White Paper" released by Silicon Valley Insight, North America is comparable to Asia in terms of the number of ICOs. In terms of financing amount, North America is far ahead with 7.85 billion. Therefore, the United States, as a major country in North America, is not lagging behind at all. On the contrary, it is still leading in many aspects.
《Harnessing Blockchain for American Business and Prosperity》
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Related questions and answers: What are the uses of blockchain technology in the business field?
What are the uses of blockchain technology in the business field?
In recent years, due to the virtual digital With currency speculation booming, blockchain, as its underlying technology, has also begun to receive widespread attention. Blockchain has the characteristics of decentralization, trustlessness, collective maintenance, and reliable storage. It is currently widely used in the field of virtual currency.
Since the birth of Bitcoin, more than 1,600 virtual currencies have appeared in the world, and a huge industrial chain ecosystem has been formed around the generation, storage, and trading of virtual currencies. But overall, the industry is still in its infancy and is still far away from the real value use area. The core of the blockchain economy lies in the reconstruction of business logic and organizational forms, so it is necessary to obtain practical examples in multiple industries to demonstrate its value. This article will explore the business models used by blockchain in various industries from the perspective of combining blockchain with industry needs.
First of all, the core of blockchain is to solve the problem of credit:
Credit is the foundation of all commercial activities and finance. The United States has implemented trusted identification since 2011, while China has implemented a real-name system to achieve supervised information dissemination. The significance of blockchain is that it has established decentralized trust from a technical level for the first time and realized a completely distributed credit system.
Secondly, blockchain solves the problem of value exchange:
Traditional networks can achieve point-to-point transmission of information, but cannot achieve point-to-point transmission of value. Because information is allowed to be copied, and value must be authentic and unique, it must rely on a centralized organization toDeliver value. Blockchain perfectly solves this problem and provides a method to realize point-to-point transfer of value. During the value transfer process, accounting is realized by the network without relying on a centralized institution. Therefore, blockchain is expected to become the infrastructure for building new finance and the cornerstone of the future value Internet.
The use of blockchain
There are currently two main modes of blockchain use:
1) Native blockchain use: directly based on decentralized blockchain technology to realize value Transmission and transaction use, such as digital currency;
2) "Blockchain +" model: combine traditional scenarios with the underlying protocol of the blockchain to improve efficiency and reduce costs. It is expected that the use of blockchain in various industries will be dominated by the second model.
Blockchain has five core attributes, namely: transaction attributes (value attributes), certificate attributes, trust attributes, intelligence attributes, and traceability attributes. The above core attributes are combined with the needs of the industry to solve the industry's pain points and become the business model used by blockchain in various industries.
Blockchain + Bank
1. Cross-border payment
Cross-border payment is a pain point that has long plagued the banking industry. Traditional cross-border payment methods include two major categories: one is online payment, including electronic account payment and international credit card payment, which is suitable for small retail amounts; the other is the bank remittance model, which is suitable for large-amount transactions; both have payment cycles Long, high fees, low transaction transparency and other issues. Especially in recent years, with the rise of cross-border e-commerce, convenient, fast, safe and low-cost cross-border payment has become an urgent need for the industry.
The role of blockchain:
The characteristics of blockchain are deintermediation and open and transparent transactions. There is no third-party payment institution to join, which shortens the payment cycle, reduces fees, and increases transaction transparency. For example, in December 2017, China Merchants Bank teamed up with Wing Lung Bank and Wing Lung Shenzhen Branch to successfully implement cross-border RMB remittances between the three parties using blockchain technology. Its clearing process is safe, efficient and fast, greatly improving customer experience.
2. Supply chain finance
The pain points in this field are the long financing cycle and high costs. Centered on the core enterprise system of the supply chain, it is difficult for third-party credit enhancement institutions to authenticate the authenticity of various relevant vouchers in the supply chain, resulting in long manual review times and high financing costs.
The role of blockchain:
Blockchain introduces consensus mechanism, existence proof, non-tampering, traceability and other characteristics into supply chain finance, and does not require third-party credit enhancement agencies to authenticate various relevant credentials in the supply chain. authenticity, thereby reducing financing costs and shortening the financing cycle. For example, in April 2017, the listed company Yijian and IBM China Research jointly launched the blockchain supply chain financial service system "Yijian Block". The system focuses on pharmaceutical scenarios and currently has more than 30 pharmaceutical distribution companies. Successfully registered in the "Yijian Block", as of the end of July, the number of transactions had been close to 8,000, and the total investment amount exceeded 100 million yuan.
3. Digital Bills
The pain point of the digital bill industry lies in the long-term problems of “false bills” and “selling more than one ticket”.It has brought risks to the bill financing business of the banking industry.
The role of blockchain:
The existence proof and non-tampering characteristics of blockchain effectively solve the problem of false digital bills; at the same time, blockchain solves the double-spend problem and avoids "one vote". Sell more". For example, Shenzhen Blockchain Financial Services Co., Ltd. issues bill chain products to provide bill financing services based on blockchain to solve the bill financing needs of small, medium and micro enterprises. Cooperative banks include Ganzhou Bank, Guiyang Bank, Suzhou Bank, Shizuishan Bank, Langfang Bank, Wuhai Bank, Jilin Jiutai Rural Commercial Bank, Yaodu Rural Commercial Bank, Shenzhen Rural Industry Bank, Weifang Bank, Zhongyuan Bank, etc. In addition, Zheshang Bank, JD Finance, Hang Seng Electronics, HNA, etc. are also verifying blockchain digital bill services.
Blockchain + Securities
1. Asset Securitization
Asset securitization uses future income as a guarantee to obtain current financing. The pain points in this field are: there are many participating entities, many operating links, low transaction transparency, information asymmetry, and the authenticity of the underlying assets cannot be guaranteed.
The role of blockchain:
Blockchain introduces attributes such as existence proof, non-tamperability, and consensus mechanism for asset securitization. It can monitor the true situation of assets in real time and solve the problem of the underlying issues of institutions in the transaction chain. Asset trust issues. Various assets such as equity, bonds, bills, income certificates, warehouse receipts, etc. can be integrated into the blockchain and become digital assets on the chain, improving asset circulation efficiency and reducing costs. For example, in May 2017, Internet Finance and partners including Baiqian Leasing and Huaneng Trust jointly issued an asset securitization ABS project supported by blockchain technology, with an issuance scale of 424 million yuan.
Blockchain + Insurance
1. Insurance Business
The insurance industry has problems such as information asymmetry and lack of trust between customers and insurance institutions: it is difficult for users to choose insurance products that suit them, while insurance institutions Face the risk of insurance fraud.
The role of blockchain:
The decentralized, open, transparent, and traceable characteristics of blockchain establish a good communication channel between insurance institutions and users; insurance subject information is managed uniformly on the blockchain , cannot be tampered with, helping insurance institutions avoid the risk of insurance fraud; at the same time, smart contracts can improve work efficiency and reduce costs. For example, French insurance giant AXA is using the Ethereum public blockchain to provide automated flight delay compensation for air travelers. If the flight is delayed for more than 2 hours, the "smart contract" insurance product will automatically pay claims to passengers.
2. Credit information management
The pain point in this field is that credit information agencies have limited data collection channels and a lack of data sharing, which makes it difficult to accurately characterize the credit status of individuals or institutions; in addition, there are also problems in how to guarantee the data collection process. User privacy issues.
The role of blockchain:
Blockchain has the characteristics of trustlessness, consensus, and non-tampering. At the technical level, it ensures that limited and controllable credit data sharing can be achieved on the basis of effectively protecting user privacy. And verification. For example, currently Ping An’s district in ChinaThe blockchain credit reporting business has been launched online. In addition, domestic startups such as Shanghai Juzhen, LinkEye, Bubi Blockchain, etc. are also exploring aspects such as joint credit reporting and safe certificate storage.
As a basic technology, blockchain has great use value in many industries with distributed processing, peer-to-peer transactions, and rapid establishment of trust relationships. Its core is to solve the problem of credit and realize Point-to-point delivery of value. Therefore, it is considered to be the cornerstone of the future value Internet.
The core of the blockchain business model is to use the innovative attributes introduced by the blockchain and combine it with traditional industry uses to realize the reconstruction of business logic in order to create new usage scenarios, or improve efficiency and reduce costs.
It is expected that the use of blockchain will first start in the pan-financial field that has high requirements for credit, efficiency, and security: the financial industry pays more attention to efficiency and security, and blockchain has a high degree of matching with its pain points, and can be used for Systematically solve trust issues, efficiency issues, default risks, etc. that exist in all aspects of financial services; blockchain’s attributes such as “transaction, certificate storage, and traceability” are more likely to generate value in the financial industry. At the same time, the market space in the financial industry is huge, and small progress can bring huge benefits.
Blockchain will also extend to all areas of social life: Blockchain solves problems such as the management, transaction, and transfer of digital assets, and therefore will play an important role in the wave of asset digitization, such as supply chain management, data Applications such as services, asset management, public services, and the Internet of Things are gradually being implemented in various fields, and "blockchain+" is becoming a reality.