小蚁区块链大会

① Which company is hosting the 2018 Blockchain Conference?

Yes, that’s right, it’s Dilian.com

② How to use blocks Issuing my digital assets on the chain

If I have an asset, how should I register and issue it on Xiaoyi?

On Yi, any issuance logic can be supported through smart contracts, which can be completed in one go or in batches at any time, such as typical issuance models pow and pos. , and can even be allocated manually, which is the simplest and crudest.

③ Why is Xiaoyi said to be China’s benchmark blockchain project and can truly apply to financial application scenarios

Why is Xiaoyi said to be China’s benchmark blockchain project? Why is Xiaoyi called the P2P Nasdaq? The answer lies in the growth trajectory of Xiaoyi.

Xiaoyi is an asset digitization system based on blockchain technology. It sprouted in 2014 and started in 2015. In April 2016, Xiaoyi proposed an improved Byzantine fault-tolerant algorithm dBFT (delegated BFT), which ensures the finality of the system to the greatest extent and enables the blockchain to be applied to real applications. financial application scenarios.

1
The bud of the Xiaoyi project

Xiaoyi is an asset digitization system based on blockchain technology. It was originally born from the idea of ​​"Bit Entrepreneurship Camp". After a year, the Yi Blockchain finally took shape in 2015.

Xiaoyi Blockchain is China’s benchmark blockchain project. Xiaoyi is currently the only real-time open source blockchain project in China.

Yi Blockchain successfully completed ICO Phase I in October 2015, raising 2,100 Bitcoins. After more than 9 months of development, the overall blockchain industry at home and abroad has developed rapidly. With the efforts of the Yi team and the help of the Yi community, the Yi blockchain has achieved considerable development. .

The inspiration for the Xiaoyi project came from an internal meeting at the Bit Startup Camp in the first half of 2014. At that time, it was proposed to create a digital currency for crowdfunding. This was Xiaoyi’s original idea. As for why it was named "Little Ant"? Because everyone felt that Ant’s community system fit well with the product concept we wanted to create, so we decided happily.

A white paper was released in September 2015, officially defining Xiaoyi as a blockchain digital asset platform. That is, Xiaoyi is based on blockchain technology and digitizes the assets and rights of the physical world through A decentralized network protocol for peer-to-peer network registration, issuance, transfer transactions, clearing and delivery and other financial services.

Simply put, Xiaoyi is used to issue and trade equity. The bottom layer of Xiaoyi is based on blockchain technology, which means that the maintenance of the equity database is not controlled by a centralized company, but is jointly maintained by all Xiaoyi participants..

Equity issuance, transactions and other behaviors in Xiaoyi occur directly between users and do not require a third party. Therefore, we compare Xiaoyi to the P2P version of Nasdaq and the Uber of digital assets.

At the end of October 2015, Xiaoyi launched its first batch of crowdfunding and raised 2,100 Bitcoins in ten days. After nearly a year, the second phase of Yi crowdfunding, which many investors are paying attention to, will officially launch globally on August 8. Following international experience, this crowdfunding of Yi shares only accepts Bitcoin.

2
Everyone’s digital assets

Xiaoyi uses electronic contracts to record the flow of digital assets. In Xiaoyi, electronic contract vouchers, as a general underlying data, can be used to record various rights and assets such as equity, debt, securities, financial contracts, points, bills, currencies, etc., and can be used for equity crowdfunding, equity transactions, Employee stock ownership plans, P2P lending, points, funds, supply chain finance and other fields.

The common practice for asset digitization in the blockchain field is "tokenization", that is, the user issues a custom token and declares that the token represents a certain asset. This token can then be transferred and traded among users like Bitcoin.

However, tokenization has many legal flaws. The circulation of tokens is similar to a transfer - tokens can flow from the sender to the recipient without the consent of the recipient. This kind of flow is only suitable for assets such as currency that have only rights but no obligations, but not for assets with complex rights and obligations such as equity and debt.

Therefore, transfers in Xiaoyi are completed in the form of electronic contracts, and most asset transfers require the transferor and transferee to electronically sign with their private keys. In some cases, the asset issuer is also required to participate in the signature.

Xiaoyi’s built-in Xiaoyi shares and Xiaoyi coins are not used as a store of value, a trading medium, or a unit of measurement. Xiaoyi shares represent the voting rights and income rights of the Xiaoyi system and are used to elect bookkeepers and obtain Xiaoyi coins in proportion; Xiaoyi coins represent the right to use the Xiaoyi system and are used to pay blockchain byte fees.

In other words, Xiaoyi uses electronic signatures to sign equity transfer agreements and uses blockchain to save all transaction records. In essence, it is more like an electronic contract system than a digital currency system.

On the Xiaoyi blockchain, recording asset transfers in the form of electronic contracts is just a new on-chain solution for offline asset transfers. It does not create new legal relationships and solves the problem of generation. The legal flaws of currencyization can be connected to third-party payment and other financial institutions.

Xiaoyi’s vision (mission) is “digital assets for everyone”. Blockchains such as Bitcoin build a parallel financial system parallel to the physical world., and Xiaoyi hopes to build a bridge-style financial system that can connect to assets in the physical world.

④ Who can participate in the World Blockchain Conference

Global practitioners can participate in the World Blockchain Conference. According to relevant public information, the World Blockchain Conference welcomes global practitioners to participate, including blockchain developers, investors, entrepreneurs, government officials, lawyers and scholars.

⑤ What are the famous public blockchain chains in China

There are many such as Xiaoyi Blockchain and Laikelib, which look promising.

⑥ How can blockchain cover other industries besides finance?

Blockchain is one of the most challenging innovations in the field of financial technology (Fintech) because blockchain Fundamentally subverting the inherent logic, operating model and business scope of traditional finance, breaking through the limitations of countless conventions, and entering a series of new application fields that were previously unreachable.
Blockchain is called a disruptive technology that will reconstruct the key underlying infrastructure of Internet finance and even the entire financial industry. Its value in the financial field is waiting for people to discover. Specific applications are as follows:
1. Applications in the banking industry
Wallet and payment are the first areas where blockchain technology has been involved, but this is also the traditional business scope of the banking industry. What changes can the arrival of blockchain technology bring?
Cross-border payment - application case:
Circle Circle, founded in October 2013, aims to make Bitcoin "simple and easy to operate, similar to Gmail (Google Mail), Skype (Microsoft's Internet phone) and other customers service tools like that” and the company quickly received a large amount of financing. In mid-2014, it received an investment of US$27 million, becoming one of the most well-funded companies in the field of digital cryptocurrency.
In 2015, Goldman Sachs and IDG Capital Partners led the investment, raising $50 million in funding for Circle. In June 2016, Circle received US$60 million in investment led by Chinese investors, and announced that it had established an independent company in China, Circle China, established a local team, and reached strategic cooperation with Internet and Everbright.
Circle utilizes Bitcoin blockchain transactions to provide instant and free fund transfers around the world. Circle hopes to use Bitcoin as a free Internet payment network to enable the smooth flow of national legal currencies around the world without any hindrance. By partnering with overseas companies like IDG, Circle can provide financial services to users using legal currencies in various countries.
Despite the complex regulatory structures of payment systems in various countries, cooperation between these countries has made progress. In April 2016, Circle received the first electronic currency license issued by the UK Financial Conduct Authority (FCA), attracting widespread attention in the industry.. Subsequently, Circle announced the establishment of a partnership with Barclays Bank and officially entered the British market. Since then, British consumers can enjoy services such as fast transfer payments and Bitcoin buying and selling like American consumers.
In order to make it more convenient for users, Circle cooperates with Apple. In the iOS 10 system, Apple’s iMessage supports users to use Circle’s Bitcoin payment system. Circle CEO Jeremy Allaire said:
“Consumers will benefit from iMessage allowing payment services to be connected. It would be difficult to install an APP alone for payment, and it would be difficult to share it with friends. Transfer payments between places also require a complex setup process, but directly connecting to the iMessage service is much simpler.”
On September 13, 2016, Circle announced that users can pay to anyone in the world through iMessage. people.
The advantages of blockchain in cross-border payments: low cost, real-time transactions, and high security.
Smart Bills—Application Case:
Complex Beauty Blockchain Bill Project Bills and blockchain technology can be well combined. After adopting the decentralized distributed ledger of blockchain, it has changed the current situation. Some system storage and transmission structures have established a more secure operating mode to solve the problem of counterfeit bills.
The process of the bill from its creation to its demise is completely reflected through the timestamp. Its history can be traced, which makes this model have a new continuous endorsement mechanism and truly reflects the transfer process of the rights of the bill.
The domestic Hangzhou Complex Beauty Blockchain Research Center has also initially developed an open source project for a blockchain lending bill exchange based on Ethereum, which integrates multiple segments such as finance, catering, business management, and express delivery tracking. The concept of applying blockchain technology in the field. As shown in the figure, the open source project of the Complex American Blockchain Network Lending Exchange is an online lending exchange that applies blockchain technology and can complete online transactions claiming to be 150,000 per second with no handling fees.
Blockchain-based bill business has four advantages:
From the perspective of moral hazard, "one vote sells more" in paper bills and the payment and endorsement in electronic bills are not synchronized from time to time. However, due to the non-tamperable timestamp and the publicity of the entire network, the blockchain will not cause any defaults once the transaction is made, regardless of whether it is a paper ticket or an electronic ticket.
From the perspective of operational risks, since the electronic bill system is operated in a centralized manner, once there is a problem with the central server, it will have catastrophic consequences for the entire market. At the same time, the access to corporate online banking will transfer more risks to Regarding the bank’s own network security issues, the entire chain of risks will become longer and longer. With the help of distributed high fault-tolerance and asymmetric encryption algorithms in the blockchain, the risk caused by human operations will be almost zero.
From the perspective of credit risk, the collection and assessment of the credit of all participants can be achieved with the help of blockchain data, andReal-time control is possible.
From the perspective of market risk, a large number of asset mismatches in the intermediary market not only lead to their own losses, but also tie up the interests of banks. With the programmability of blockchain, not only can the balance of participants' assets and liabilities be effectively controlled, , and can also rely on the characteristics of data transparency to promote the authenticity of the entire market transaction price response to capital demand, thereby forming a more realistic price index, which is conducive to controlling market risks.
Bank settlement - application case: VISA
Bank settlement refers to the act of collection and payment through the transfer of funds from bank accounts, that is, the bank accepts the entrustment of the customer to collect and pay on behalf of the customer, and transfers the money from the deposit account of the paying unit , transferred to the deposit account of the receiving unit to complete the settlement of claims and debts between customers or the allocation of funds. In this process, banks serve as both a medium for commodity exchange and an intermediary for clearing funds in social and economic activities.
Unlike domestic banks, which mainly rely on the difference between deposits and loans to make profits, half of the profits of multinational banks come from intermediary settlement business. For them, if they open up new business areas and reasonably reduce settlement costs, it is directly related to their fundamentals. .
VISA is the world's largest credit card company. There is no doubt that the rise of digital cryptocurrency will inevitably have an impact on its credit card payment business. However, VISA has not always been resistant to electronic currency and blockchain, but has adopted an open attitude.
In October 2015, VISA and DocuSign jointly launched a "proof of concept" project using the Bitcoin blockchain to record and store car rental data. The project combines DocuSign’s digital transaction management (DTM) platform and electronic signature solutions with VISA’s secure payment technology. It allows consumers to configure rental, insurance and other daily purchases in the car, such as parking fees and tolls, and users can pay directly with VISA cards.
Peripheral applications do not satisfy VISA. In the same year, VISA cooperated with Coinbase to launch the first Bitcoin debit card that can be used in the United States. On November 30, at the UnBound conference in London, the VISA European Innovation Lab demonstrated a "proof of concept" remittance application through which people can remit money on the Bitcoin blockchain.
In September 2016, VISA launched Interbit, an inter-bank settlement and payment system based on blockchain technology in cooperation with digital payment startup BTL Group, to evaluate whether blockchain technology can facilitate international transfers between banks. Reduce costs, settlement time and credit risk.
A series of major actions in the past two years can be seen: VISA has begun to realize the value of blockchain technology and is working hard to make blockchain technology a powerful tool to expand its sphere of influence.
The advantages of blockchain in bank settlement: safe, convenient and intelligent.
In addition to using blockchain technology in existing businesses, banks are issuing digital cryptocurrencies internally.In addition to transforming technology, major banks around the world have also launched their own encrypted digital currency plans in order to reduce their operating costs.
Advantages of blockchain in banking digital currency: reducing costs.
2. Securities investment market application
Securities trading - application case: Linq
The securities trading market is an important application field of blockchain. The application of blockchain technology can not only speed up clearing and settlement, but also reduce the number of books that financial institutions need to maintain and ensure more accurate audit trails.
NASDAQ is the earliest pioneer in the securities exchange market. In the second half of 2015, it launched Linq, a trading platform based on Bitcoin trading technology for trading of primary market companies. As shown in the figure below, Linq can record equity transactions before a company's IPO. It can track corporate equity transactions, shareholder and investor information, etc., and is very valuable for asset analysis in the private equity market.
Fredrik Voss, head of blockchain strategy at Nasdaq, is convinced that the high efficiency provided by blockchain technology will greatly enhance Linq’s advantages as a private equity trading platform. . So far, there is no technology that can really keep people away from paper work, and blockchain technology will make it a big step forward, significantly reducing the possibility of errors compared to manual processing.
The advantages of blockchain in securities transactions: speed up settlement, simplify accounts, and facilitate tracking and auditing.
Equity Crowdfunding - Application Case: Xiaoyi
Funding has always been a gap between creative ideas and entrepreneurship, and it was this gap that gave birth to the world's first crowdfunding platform - Kickstarter. The way Kickstarter works is a typical platform business model, where users on one side are people who are eager to create and create, and on the other side are people who have some funds and are willing to fund new ideas. Both parties share the same desire. They all hope that new ideas will become reality and achieve continuous promotion.
Crowdfunding platforms based on blockchain technology can raise funds by creating their own digital cryptocurrency or digital assets, and by distributing their own "digital equity" to early backers, investors receive support for startups. Certificate of shares.
Blockchain crowdfunding platforms usually have a three-layer structure:
The lowest layer is the blockchain network, which builds a decentralized distributed ledger;
The middle layer is business logic Combined with the blockchain, we jointly establish an account center, equity registration, equity certificates, equity transactions, equity management and other functions;
The top layer provides services to customers of various crowdfunding platforms.
In China, Xiaoyi is the first company to use blockchain technology to register company equity. Although this is an innovation, the underlying logic and various details must comply with my country's laws and be implemented in practice.Entering the physical world is not an easy task. After in-depth research and analysis of my country’s current legal environment, Xiaoyi has the potential to become a practical blockchain application.
Xiaoyi is a blockchain protocol based on blockchain technology that registers, issues, manages, and trades various equity shares through a peer-to-peer network. In the early stage, the equity of unlisted companies will be used as the entry point to provide digital share incentive solutions for startups and equity management solutions for equity crowdfunding companies. In the future, it will transition to tradable equity, that is, "blockchain IPO", which will gradually become blurred. The boundary between unlisted companies and listed companies.
The advantages of blockchain in equity crowdfunding: transcending time and space constraints, optimizing crowdfunding organizations, and rational distribution of equity and interests.
3. Insurance Industry Application
Policy Sales—Application Case: Bubi Aviation Accident Insurance
Traditional aviation accident insurance has always had problems such as insurance fraud and price hikes by intermediaries. As the saying goes, "The wool comes from the sheep", which is ultimately passed on to consumers. Blockchain technology can provide effective means to solve these problems.
On July 29, 2016, Bubi Blockchain cooperated with Sunshine Insurance to launch the "Blockchain + Aviation Accident Insurance Card", which is the first domestically-made mainstream financial assets to be placed on the blockchain. circulation.
Most aviation accident insurance will only pay out claims when an accident occurs on the plane, so in most cases it is not easy to detect when customers buy fake insurance. In order to prevent the purchase of "fake insurance policies", Bubi Blockchain relies on its multi-party data sharing characteristics to trace the entire process of card slips from the source to the customer. All parties can not only check the authenticity of the card slips, but also ensure that the card slips are authentic. The authenticity of the order can also facilitate subsequent processes, such as claims settlement, etc.
In order to prevent middlemen from raising prices and passing them on to consumers, aviation accident insurance cards are set up on the Bubi blockchain. Without middlemen, the price of insurance cards will drop significantly. According to data, this product can be purchased for 60 yuan and can be used by 20 people. Each time, you can get aviation accident protection of up to 2 million yuan, which is equivalent to spending 3 yuan each time to get 2 million yuan of protection.
The advantages of blockchain in the insurance industry: authenticity and transparency, information security, traceability, clear claims process, and low cost.