恒生电子的区块链应用有哪些,恒生电子的区块链应用是什么
恒生电子是一家专注于金融科技的创新公司，它拥有多种创新的区块链应用，这些应用可以支持金融行业的发展和改善。本文将介绍恒生电子的三大区块链应用：数字资产管理、结算系统和智能合约。
1. 数字资产管理恒生电子的数字资产管理应用是一个全球领先的分布式账本系统，可以帮助金融机构在安全、可信赖和可追溯的环境中管理数字资产。该系统可以支持不同类型的数字资产，包括股票、债券、商品、外汇等，可以满足金融机构不同的业务需求。恒生电子的数字资产管理应用可以提供安全可靠的账户管理、交易执行和记录功能，可以有效地帮助金融机构管理数字资产。
2. 结算系统恒生电子的结算系统是一个基于区块链技术的分布式结算系统，可以帮助金融机构实现更快速、更安全的资金结算。该系统可以支持多种货币，可以实现多种资金结算方式，包括全球结算、实时结算和定时结算等。该系统可以支持多个金融机构之间的资金结算，可以有效地提高金融机构的资金结算效率，改善金融机构的资金管理能力。
3. 智能合约恒生电子的智能合约应用是一个基于区块链技术的智能合约系统，可以帮助金融机构实现更加安全、可靠和可追溯的合约管理。该系统可以支持多种类型的智能合约，可以有效地实现合约的自动执行，支持多方自动签署合约，可以有效地提高金融机构的合约管理能力。此外，该系统还支持智能合约的可追溯性，可以提高金融机构的风险管理能力，有助于金融机构实现更高效、安全的经营管理。
以上就是恒生电子的三大区块链应用：数字资产管理、结算系统和智能合约。这些应用可以有效地支持金融机构的发展和改善，为金融机构提供安全、可靠的资产管理、资金结算和合约管理等功能，有助于金融机构实现更高效、安全的经营管理。
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『一』What are the main application areas of blockchain?
The main application areas of blockchain include: digital currency, transaction settlement of financial assets, digital government affairs, Supply chain field, automobile industry, public service field, information security field, certificate storage and anti-counterfeiting data processing service and other fields. Blockchain is a new application model of computer technologies such as distributed data storage, point-to-point transmission, consensus mechanism, and encryption algorithms. It is an important concept of Bitcoin. It is essentially a decentralized database. As the underlying technology of Bitcoin, it is a series of data blocks generated using cryptographic methods. Each data block contains The information of a batch of Bitcoin network transactions is used to verify the validity of its information (anti-counterfeiting) and generate the next block.
『二』What companies are currently using blockchain technology
The large domestic blockchain companies include Xinchen Technology, Yinjiang Shares, Great Wall of China, Radio and Television Express, and Hang Seng Electronics etc.
1. Xinchen Technology
The company's current main business is application software development business, software and hardware system integration business and professional technical service business. In recent years, Xinchen Technology has been more bold in its attempts at innovation. The company has made certain progress in the application of new technologies such as cloud computing, big data, artificial intelligence, and blockchain in the financial industry. The domestic letter of credit business system based on blockchain technology has been successfully launched in banks and is expected to gradually become a new growth point for the company's software solutions business.
2. Yinjiang Co., Ltd.
The company mainly provides intelligent system engineering and services to users in transportation, medical, construction and other industries. "Elite" has conducted multiple follow-up reports on Yinjiang Shares. This company has made in-depth development in smart cities in recent years, covering all aspects of urban residents' lives including transportation, medical care, construction, environment, energy, education, and finance.
The company is a key software enterprise within the national planning layout, a key high-tech enterprise under the National Torch Plan, one of the top 100 enterprises in China's software business revenue, one of the top 100 high-tech enterprises in Zhejiang Province, and one of the top 100 high-tech enterprises in China according to Forbes in 2010. One of the top 100 small and medium-sized enterprises with potential, a unit with outstanding contributions to China's informatization construction in the past 30 years of reform and opening up, and one of the companies with the highest comprehensive business qualifications and the most comprehensive types in the domestic industry.
3. Cultural Great Wall
Cultural Great Wall began to acquire large educational institutions such as Lianxun Education, Zhiyou Zhenlong, and Jade Sect World Education in 2015, and has become a leader in the A-share education industry. For listed companies, the rapid growth of the education industry has become a new driving force for the company's performance growth. Its subsidiaries began to lay out the blockchain industry in 2017, investing in the research and development of blockchain-related technologies, and obtained four blockchain technology copyrights in March 2018, becoming a pioneer in blockchain applications in the field of education. .
4. Radio and Television Express
The company stated on the investor interaction platform that it has been paying attention to the development trend of digital currency for a long time, focusing on digital currencies.In order to meet the industry development needs of digital currencies, the company has established a dedicated team to carry out related work, including research on blockchain technology.
5. Hundsun Electronics
On June 1, 2016, the Financial Blockchain Cooperation Alliance was established in Shenzhen. Hundsun Electronics is one of the 25 initiators to use the blockchain Chain technology implements a digital ticket system based on the alliance chain.
『三』What are the practical applications of blockchain technology
1. Financial field
Blockchain is used in international exchange, letters of credit, and stock rights Financial fields such as registration and stock exchanges have potentially huge application value.
2. 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.
3. Public service fields
Blockchain is closely related to people’s production and life in public management, energy, transportation and other fields, but the centralization of these fields Characteristics also bring some problems, which can be transformed using blockchain.
4. Digital copyright field
Through blockchain technology, works can be authenticated, prove the existence of text, video, audio and other works, and ensure the authenticity and uniqueness of ownership. sex.
5. 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.
6. Public Welfare Field
The data stored on the blockchain is highly reliable and cannot be tampered with, so it is naturally suitable for social welfare scenarios.
『四』What are the leading blockchain concept stocks
The official concept of blockchain has not yet come out, but now there are only some changes in related stocks.
Feitian Integrity: Currently it has certain technical reserves and research in blockchain technology. The company said it will actively participate in digital currency and other blockchain technology industries in the future.
Radio Express: A dedicated working team has been established around digital currency. On March 23, the company stated on the investor interactive platform that it has been paying attention to the development trend of digital currency for a long time. Focusing on the industry development needs of digital currency, the company has established a dedicated team to carry out related work, including research on blockchain technology.
Yingshisheng: Yingshisheng is an established asset management and custody business software service provider for domestic financial institutions. It has a wide range of customer resources, covering a total of 241 financial institutions including funds, custodian banks, securities, insurance, and trusts.
Haili Meida: Haili Meida has become the leading mobile information service and third-party payment provider in China through mergers and acquisitions, and has entered the first-tier echelon of A-share mobile payments. It has also formed a unique and massive data base and is expected to become The first gold company to lay out blockchain in ChinaOne of the financial services companies.
Guangbo Co., Ltd.: In terms of external expansion, it integrates Internet marketing and service businesses and develops in coordination with cross-border e-commerce. Cross-border payments open up space for the company’s long-term growth. After acquiring 100% of Huiyuantong in January this year, the company positioned itself as a fourth-party cross-border payment platform.
Weishitong: The company is the overall commercial encryption unit of China Mobile Research Institute’s secure mobile phone business. As a leader and national team in the domestic encryption field, it is also actively involved in it and is currently in the early stage of blockchain technology reserve.
Zhongke Jincai: The company mainly targets the three market segments of data center, bank imaging and IT service management, providing solutions for enterprises, governments, banks and other customers.
Gao Weida: a leading domestic financial information manufacturer. Relying on its own advantages in bank IT solutions and bank customer resources to provide bank IT system cloud services, the acquisition of Yinghang Financial officially entered the field of financial asset trading. In the future, the company will further integrate financial product and capital side resources to increase platform transaction volume.
Hundsun Electronics: Hundsun Electronics uses blockchain technology to implement a digital bill system based on the alliance chain.
Jinzheng Shares: Gradually extend to the 2.0 model of cloud service charging + traffic charging, and actively explore the 3.0 model that integrates investment consulting, financial product sales and other Internet financial products and services, striving to become an Internet financial content service provider.
Xinyada: The company has not yet invested technical strength in researching blockchain and digital currency technology. It is currently closely tracking related emerging businesses and technological developments such as blockchain and digital currency.
HNA Investment: Jingtong Technology applies blockchain technology to upgrade Internet 3.0 and joins hands with HNA to realize asset interconnection between HNA’s financial platforms.
The above companies are related to blockchain-related concepts. You can track them. After all, the concept has not yet come out. You can only observe and find stocks with active transactions, healthy trends and potential, which may become leading stocks in the future.
『Wu』 Application of Blockchain
1. Blockchain + Medical: In the medical field, blockchain can use its anonymity, decentralization and other characteristics to protect patients. privacy. Electronic health records (EHR), DNA wallets, drug anti-counterfeiting, etc. are all possible application areas of blockchain technology. IBM predicted in last year's report that 56% of the world's medical institutions will...
2. Blockchain + Internet of Things: The Internet of Things is a very broad concept. If communications, energy management, Covering supply chain management, sharing economy, etc., the IoT application of blockchain technology will become a very important application field.
3. Blockchain + IP copyright & cultural entertainment: The Internet is developing better and better, and digital music, digital books, digital videos, digital games, etc. have gradually become mainstream. The rise of the knowledge economy has made intellectual property rights a core element of market competition.
Extended information:
1. Current application cases of blockchain
1. Application case 1: Tami Chain is a blockchain based on SuperThe alliance chain platform of the first-level ledger realizes on-chain services for investment, financing and M&A transactions of non-standard asset projects of Chinese state-owned enterprises. The universal points management system (TamiDou) forms an internal reward mechanism, mobilizes production enthusiasm, and promotes the conversion of rights and data interoperability between various objects in the Tamichain ecosystem. The objects of shared points can be members of the corporate ecosystem such as trading institutions, investors, intermediary service partners, etc. Different issuance mechanisms and circulation mechanisms can also be formulated for different members to achieve positive interactions among blockchain digital points, business goals, and participants. The construction content includes: 1. Blockchain basic platform; 2. Points system; 3. Data circulation platform; 4. Certificate storage system; 5. Other subsystems on the chain. Project address: Enterprise M&A and Financing Information Service Platform_Tamigo
2. Application Case 2: Xuyuan Art Digital Asset Trading Service Platform is a trading platform for art copyrights and a discovery platform for global art values. A truly decentralized high-end service platform for the international art market. Based on the blockchain token, the platform implements an encrypted digital currency based on the world's outstanding artworks to exchange the value of artworks. Functions include copyright certification: artists and creators can perform copyright certification on the platform. Asset tokenization: Art creators divide the artistic copyright into tokens, and investors invest according to their subscription shares and receive income. Usage rights trading: Artists and creators place the rights to use artworks on the chain for transactions, and trigger smart contracts, allowing buyers to obtain the rights to use artworks (including various transactions such as leasing, exhibitions, etc.).
『Lu』 Hundsun Electronics Business Review and Analysis
Hundsun Electronics’ product lines can be divided into two major parts: 1. Business (traditional business) - securities, futures, funds , trusts, insurance and other financial institutions provide application software and charge software licenses and annual service fees; 2. Business (innovative business) - mainly cloud computing, Internet, artificial intelligence, such as financial information business, Jincongtongtong database business, Intelligent investment advisory business, financial cloud business, etc., charge IT management service fees. Hang Seng has a high market share in core trading systems for securities firms, investment management systems for asset management, comprehensive financial management systems for banks, and TA systems for financial institutions.
Hang Seng Electronics’ traditional businesses mainly include asset management business, brokerage business, wealth management, banking business and exchange business. Currently, the three core products account for the largest share of revenue:
UF series, O series, TA series
1. UF series: The full name is "Securities Comprehensive Financial Platform System Software". The main functions are securities trading, settlement, account management, asset custody, clearing and settlement, etc. The one-stop brokerage business platform UF3.0 is the latest product and has the characteristics of "high capacity, large concurrency, low latency" and can support The market volume is 5 trillion yuan to 10 trillion yuan or even larger. When investors open an account at a certain securities firm, buy and sell stocks, perform margin trading and other operations, they will first go through this system.The system handles the order submission and data transmission with the Shanghai Stock Exchange and Shenzhen Stock Exchange. The UF3.0 system is the core trading system in the entire brokerage business. On the basis of expanding the brokerage business, wealth management has become a hot topic in the securities industry in recent years. Hundsun Electronics launched We6, a digital wealth management and fundraising service platform, to provide digital services and capabilities to asset management institutions and wealth management institutions.
2. O Series: The full name is "Fund Investment Management System". Its main functions are stock trading, new stock subscription, bond trading, margin trading, warrant trading, ETF trading, LOF fund trading, and open-end funds. Subscription, etc.; this system was originally developed for the investment management of fund assets. That is, fund companies want to invest money in stocks or bonds. They need a system to help fund managers manage financial assets. This system is this Functional. This latter system gradually evolved into an asset-side management tool for fund assets, brokerage asset business, insurance assets, trusts, futures and other businesses. The new generation asset management product O45 not only continues Hundsun Electronics' technological leadership in the field of asset management systems, but also innovates in system architecture, coupling, system performance, system capacity, openness, etc. O45 is currently being fully and rapidly replaced O32 has become the core hub for investment transactions of asset management institutions.
3. TA series: The full name is "Fund Share Registration System". The main application software includes investment management platform, product recruitment platform, customer service and marketing service platform related systems. TA5.0 is the latest product. When investors invest in funds, they need to open an account, register fund shares, calculate position returns every day, etc. This system handles these businesses. The fund company registers shares through this TA system. If it is a public offering fund, it also needs to transmit the fund share information to China Registration and Calculation Company (Zhongdeng) for share registration. If it is a private equity fund and does not require on-site trading, it can only Just keep the information with the fund company. Both TA5.0 and O45 systems will be used by fund companies. The former is for C-side fund warrant registration and settlement, and the latter is for B-side asset management.
These three systems are the main products of Hundsun Electronics and the main source of Hundsun Electronics’ revenue. In addition, the i2 built for the institutional service business and the corporate financial product C9 and the compliance risk control product Rtec, We also help financial institution customers solve business problems through leading digital capabilities and services in their respective business areas. Hang Seng has many other layouts in the entire financial industry chain, such as asset assessment and valuation systems, over-the-counter sales systems, Juyuan Data, Hengyun overseas asset management systems, and a series of innovative business products such as financial cloud and blockchain.
Services provided for different industries:
1. Securities industry
Hang Seng Electronics provides retail brokerage, institutional brokerage, trading and capital investment, investment bankBusiness, overseas markets, OTC markets and other overall solutions, products cover securities trading, settlement and custody, financial risk control, data center, customer marketing services, financial terminals, investment and financial management and other important fields.
2. Futures penetrates hidden industries
Hang Seng Futures’ overall solution integrates domestic and overseas businesses, supports 7X24h continuous trading, supports multi-active trading centers, supports mixed operations, Support heterogeneous system access.
3. Fund industry
Hang Seng Electronics provides fund companies with overall business solutions for the fund industry, including fund business platform solutions for public offering business (including self-construction and custody outsourcing), There are four major solutions: investment advisory service solutions, fund segregated account business subsidiary solutions, and Internet financial business solutions.
4. Banking business
Hang Seng Electronics has complete solutions in the three vertical fields of personal wealth management, corporate financial management, and institutional asset management, as well as at the two levels of payment and network The application area has a complete range of products and services.
5. Trust business
Hundsun Electronics is engaged in front, middle and back-office activities such as product research and development, marketing, customer service, project management, asset management, risk management, financial accounting, and resource allocation. Provide products and services to trust companies in other aspects.
6. Insurance industry
Hundsun Electronics provides insurance companies with integrated investment platform solutions for asset management business, public fund solutions for public fund issuance, and Internet financial solutions. plan.
7. Exchange
Hang Seng Electronics provides overall technical solutions and consulting, operation and maintenance services for exchanges and related pan-financial fields.
8. Private Equity Industry
Through its subsidiary Hangzhou Securities Investment Network Technology Co., Ltd., Hundsun Electronics provides Sunshine Private Equity with software development and sales related to financial asset operations.
9. Financial data
In 2010, Hundsun Electronics acquired Shanghai Juyuan and entered the financial information field. It is committed to serving the domestic financial information field and provides services to well-known domestic financial institutions, media, Research institutions and other units provide products and services.
10. Global development
Hong Kong Hundsun Network Co., Ltd. (Hundsun.com CO., LIMITED) is a holding subsidiary of Hundsun Electronics in Hong Kong. It mainly provides integrated services for the Hong Kong financial industry. Account, securities and futures solutions, it is one of the qualified BSS suppliers announced by the Hong Kong Exchange, and one of the qualified suppliers of the Hong Kong Exchange's new generation trading system (Navigator). It is also a mature Shanghai One of the providers of stock trading settlement system.
11. Innovative business platform
1) Hangzhou Yunji Network Technology Co., Ltd.: A holding subsidiary of Hundsun Electronics Co., Ltd., with securities software services and business operation support as its core, it provides high value-added new brokerage business platforms and technical services to securities market institutions and investors.
2) Hangzhou Yunying Network Technology Co., Ltd.: A holding subsidiary of Hundsun Electronics Co., Ltd., mainly in the field of financial services, providing product operations and product services to individual investors and institutional investors, including Individual investors and financial institutions such as securities companies, futures companies, trust companies, exchanges, private equity, and Internet companies.
3) Hangzhou Yunyong Network Technology Co., Ltd.: A holding subsidiary of Hundsun Electronics Co., Ltd., focusing on providing data connection, data management, data mining, data supervision and other big data business services for the over-the-counter market. IT technical services include over-the-counter trading centers, Internet financial companies, various regulatory authorities, etc.
4) Hangzhou Securities Investment Network Technology Co., Ltd.: A holding subsidiary of Hundsun Electronics Co., Ltd., it mainly provides private equity and other institutional investors with software development and sales related to financial asset operations, integrating leading IT Technology, Internet technology and financial asset operations are combined to provide institutional investors with excellent software and technical services.
5) Hangzhou Yunyi Network Technology Co., Ltd.: A subsidiary controlled by Hengsheng Electronics Co., Ltd., it mainly provides large asset management for clients such as asset management institutions, asset management outsourcing institutions, custodians, and securities brokers. Innovative IT platforms and services in the field provide brand-new IT platforms or systems and provide technical support for customers to develop innovative businesses.
6) Hangzhou Yunying Network Technology Co., Ltd.: A holding subsidiary of Hundsun Electronics Co., Ltd., which mainly provides new IT software and service businesses in the field of wealth management innovation. Its main service targets include securities, funds, trusts, etc. Traditional financial institutions, private equity, third-party wealth management companies, etc.
7) Hangzhou Hengsheng Yunrong Network Technology Co., Ltd.: A holding subsidiary of Hengsheng Electronics Co., Ltd., it provides turnkey cloud services for financial institutions, connecting financial demand scenarios and the supply of financial services, making The operator of the "Cloud Finance" ecosystem.
8) Hangzhou Yunlian Network Technology Co., Ltd.: A holding subsidiary of Hundsun Electronics Co., Ltd., focusing on providing cloud technology and business services to financial institutions. Focusing on providing cloud-based technology and business services to financial institutions, we are committed to serving institutions in all financial fields such as banks, insurances, securities dealers, funds, trusts, local financial asset exchanges, and Internet financial institutions, and use technology to build wealth for financial institutions. A bridge that connects management and asset transactions, allowing wealth to move.
9) Hangzhou Shanshang Network Technology Co., Ltd.: A holding subsidiary of Hundsun Electronics Co., Ltd., dedicated to providing e-commerce sellers withProvide high-quality business management software and convenient online financial services.
Innovative business:
After years of development, the company has established a three-level R&D structure of research institute, R&D center, and business R&D group. In terms of data, the subsidiary Hengseng Juyuan has a large amount of historical accumulation in market conditions and information, which has become an important foundation for the company to develop an artificial intelligence basic platform. In terms of scenarios, as an IT supplier in all fields of China's financial industry, the company's product line is extensive and penetrates into various financial fields, helping the company to quickly find the best application direction. In fact, the company's transformation has already taken off. Judging from the data, the current revenue of the company's core innovative business has grown rapidly in the past three years, with a compound annual growth rate of more than 80%, which has gradually become a new driving force for the company's rapid growth in the future.
In 2019, four new artificial intelligence products based on Hang Seng Data Center were released: Smart Algorithm Trading, Intelligent Algorithm Trading, Intelligent Public Opinion Warning, and Super Intelligent Customer Service, as well as the HSL2.0 platform, Fan Tai Chain (FTCU ), trade finance platform blockchain application, supply chain finance blockchain service platform and 4 blockchain products.
Four stages:
According to the business model and correspondingly disclosed organizational structure adjustments, Hundsun Electronics’ strategy is divided into four stages, and the first three stages have achieved clear success. Each stage covers the watershed between "polishing products in the bear market" and "sharing profits in the bull market".
1. The first stage is from 2003 to 2006/07, and the business model focuses on solutions;
2. The second stage is from 2007 to 2012, and the business model focuses on Software products;
3. The third stage is from 2013 to 2016, the business model adds the Internet;
4. The fourth stage is after 2017, the business model focuses on "technology and operations" ”
Hundsun Electronics will focus on three aspects in its future development deployment of financial technology:
1. Architecture upgrade, that is, infrastructure microservices;
2 .Business structure reconstruction, that is, solutions need to be upgraded;
3. Be data-driven and implement the application layout of data technology and AI technology.
Hang Seng’s moat:
1. Hang Seng’s market share is very high. The market shares of the three major products mentioned above all exceed 50%, and the TA system has almost reached 80%-90% of the market share.
2. There is never a shortage of orders, because the interfaces and details of trading rules, exchanges, banks, etc. are constantly being adjusted. As a result, there are always new demands arising, and demands for system updates are endless.
3. Reforms in financial markets are of great benefit to Hang Seng, such as the Science and Technology Innovation Board, GEM registration system, and T+0 transactions and the opening up of the inter-bank bond market, these major adjustments will create the need for system updates. Financial institutions must upgrade their systems if they want to do business.
4. With a broad product matrix, Hang Seng has been buying, buying, buying everywhere for so many years, constantly acquiring companies in the industry chain to expand its product matrix, and incorporating products in many fields into its own In the camp system (the product matrix needs to be thoroughly sorted out later).
5. The Sino-US trade agreement stipulates that China will accelerate the opening of its financial market and allow foreign banks, securities asset management, funds, futures, and insurance companies to enter the Chinese financial market. If twenty years ago, financial institutions could not tell which software product was better and had the possibility of diversifying their needs, then when these large multinational companies do business in China today, they will definitely choose Hang Seng System. Two options. Because Hang Seng is the undisputed No. 1 in the current market. Not only does it have an overwhelming market share in core systems, but its product matrix coverage is also very wide. Whether it is docking with external institutions or integrating various business systems within the enterprise, there are obvious advantages. These large global financial institutions are not short of money and will definitely choose the fastest and best services to carry out business.
Hang Seng faces greater challenges:
1. The controlling shareholder is the Alibaba system, and there is no national team in the entire background. For such an important financial system software supplier, it is still worrying that it does not have a state-owned background.
2. Some powerful companies have begun to gradually replace part of Hang Seng's systems and transform them into self-developed systems. Especially Internet financial companies. For example, in the fund agency business, the well-known Alipay fund agency business system is not provided by Hang Seng. However, since Ant Financial is the controlling shareholder of Hang Seng, it is likely to be on Hang Seng’s system. Conducted secondary research and development. The fund sales products in Tencent Wealth Management Connect are not provided by Hang Seng. Instead, it conducted secondary research and development on the system of Tencent Holdings subsidiary Jinzheng. For example, Dongcai's Tiantian Fund and Snowball's Egg Roll Fund have begun to develop their own systems to replace Hang Seng products.
3. There is a gap between Hang Seng’s technical capabilities and personnel quality compared with Internet companies. In 2019, its R&D expenses were 1.56 billion, the number of R&D personnel was 4,867, and the average annual expenditure per person was 320,000. This 320,000 yuan is not the actual salary of employees, but should include the average expenses of social security, provident fund, amortization of work station water and electricity, etc. The actual per capita annual salary before tax should be just over 200,000 yuan. This salary is probably the starting salary for fresh graduates in first-tier Internet companies.
4. In terms of personnel composition, among the company’s 7,357 employees, only 638 have master’s degrees or above, accounting for 8.7%. This ratio is still very far from that of first-tier Internet companies. Talent is the core asset of software companies, and Hang Seng still has a certain way to go in this aspect.Gotta go.
『撒』 Can blockchain change 10 cases of existing business
This article introduces the current 10 main usage scenarios of blockchain:
(1) Tracking Products in the global supply chain;
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. 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 and make elections more 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, everyEach polling location will record the ID of each ballot in real time.
(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 why BTC’s network has remained stable for 10 years. reason. 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, which is often a double expense for 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 thatEthereum 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 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 huge global problem, amounting to 1-2 trillion US dollars, accounting for approximately 2% - 5% of the total global GDP. Banks and authorities are fighting back, spending about $8 billion a year to combat corruption. Banks around the world need to do 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, 40% in the United Kingdom, and 36% in Canada. 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 siliconAccording to the "White Paper on the Development of Blockchain in China and the United States" released by Gu 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》
http://forex.hexun.com/2018-06-17/193222543.html
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Introduction to Tianjige: Tianjige (LD Research) was established on July 2, 2018. It is a company dedicated to exploring the unknown of science and technology, taking human development as the driving force, and taking "BASE Research for Solving Real" Problems" as the purpose of the research institute.
This article comes from Babbitt
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 is necessary to rely on a centralized organization to achieve value transfer. 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 a newThe financial infrastructure has become 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 "one vote selling many", which have 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 can avoid"One ticket sells 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, Ping An's blockchain credit reporting business is now online. In addition, domestic startups such as Shanghai Juzhen, LinkEye, Bubi Blockchain, etc. are also exploring joint credit reporting and safe certificate storage.
As a basic technology, blockchain is used in manyIt has great use value in industries with distributed processing, point-to-point transactions, and rapid establishment of trust relationships. Its core is to solve the problem of credit and realize point-to-point transfer 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.
『8』 "Research Report on Digital Collections Based on Blockchain" was officially released and was jointly compiled with the participation of Hundsun Electronics
This newspaper reported that recently, the report was compiled under the auspices of the Trusted Blockchain Promotion Plan The "Research Report on Digital Collections Based on Blockchain" (hereinafter referred to as the "Research Report") was officially released. As one of the writing units, Hundsun Electronics collaborated with China Academy of Information and Communications Technology, Ant Blockchain, Tencent Cloud, JD Technology, Qulian Technology and other institutions to compile this report.
With the rapid development of digital technology, digital rights confirmation technology represented by blockchain has begun to emerge in the cultural and creative industries, providing innovative solutions for the confirmation and circulation of digital cultural and creative works, and more It is good to protect the copyright of creative works on the chain.
Since 2021, the popularity of non-fungible tokens (NFT) has skyrocketed at home and abroad. It is a new type of digital work ownership certificate that uses blockchain technology. By converting cultural and creative works The ownership rights are stored on the decentralized blockchain network, which effectively solves the pain points of digital cultural works in terms of difficulty in confirming copyright rights, tracing copyright, and obtaining evidence for rights protection.
However, there are also many risks in the development of NFT. For example: because NFT is issued on a public chain, node behavior is difficult to control, and digital collections may contain content that is prohibited from dissemination; public chain transactions can easily breed money laundering , fraud and other issues; NFT has strong digital asset attributes, obvious financialization trends, and high market hype. In addition, the public chain has many uncontrollable factors at the regulatory level and needs to be standardized and developed.
In order to avoid related risks, domestic blockchain research institutions have learned from foreign NFT technologies and businesses.business model, divest its digital asset attributes, adhere to the principle of localization and compliance, explore and implement blockchain-based digital collections issued on the alliance chain, and ensure that within the framework of regulatory compliance, blockchain technology can be fully utilized. Value in digital copyright protection.
The "Research Report" clearly defines the conceptual characteristics of blockchain digital collections: Blockchain-based digital collections are digital works and art that use blockchain technology to confirm the ownership of rights and interests through unique identification. Products and commodities can be marked with their owners in the blockchain network and the subsequent circulation can be traced, including but not limited to digital pictures, music, videos, electronic tickets, digital souvenirs and other forms, with uniqueness, Technical characteristics such as indivisibility, non-tamperability, verifiability, and scarcity.
Both NFT and blockchain-based digital collections use blockchain technology to solve the problem of confirming the rights of digital works. Technically, there is no essential difference. However, from a business perspective, digital collections in public chains pay more attention to the social attributes, hype attributes, and speculative attributes of the community, while digital collections in alliance chains are generally endorsed by relatively powerful issuers, with better collection and Realistic value attributes. In addition, the issuance of digital collections on the alliance chain can truly remove the currency attribute, making the financial attributes of digital collections even lower.
(Editor Bai Baoyu)
How to apply "Nine" blockchain
1. Jinxunque logistics field:
Blockchain has potential huge application value 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, thereby greatly reducing costs and quickly completing transaction payments.
2. Internet of Things and logistics fields:
Blockchain can also be naturally combined in the fields of Internet of Things and logistics. 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.
3. Public service field:
Blockchain is closely related to people’s production and life in public management, energy, transportation and other fields, but the centralized characteristics of these fields are also It has brought about some problems that can be transformed using 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.
4. Digital copyright collectionDomain:
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. For example, MineLabs, a startup company in New York, USA, has developed a blockchain-based metadata protocol. This system called Mediachain uses the IPFS file system to realize copyright protection of digital works, mainly for copyright protection applications of digital pictures.
5. 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. A typical application case is LenderBot, which was launched in 2016 by the blockchain company Stratumn, Deloitte and the payment service provider Lemonway. It allows people to register for customized micro-insurance products through the chat function of Facebook Messenger, which is exchanged between individuals. High-value items are insured, and blockchain replaces the third-party role in loan contracts.
6. 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 can be transparently and publicly disclosed conditionally to facilitate social supervision.
