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⑴ What are the service applications that use blockchain technology?

Blockchain technology has a distributed ledger that cannot be tampered with, ensuring the transparency and sharing of information, thus making business The cost of establishing trust and reaching consensus between peers during the event has dropped significantly. This article provides an in-depth interpretation of four typical business scenarios: supply chain finance, commodity traceability, technology and medical care, and industrial Internet.
1. Blockchain adds supply chain finance. Today, the supply chain of most commodities, from the provision of raw materials to the manufacturing of finished products, involves several upstream and downstream small and medium-sized enterprises; and these enterprises are faced with the challenge of unlocking supply chain working capital. pressure. Supply chain finance refers to banks and other financial institutions making systematic financing arrangements for all member companies of the supply chain, thereby forming a win-win situation for core buyer companies and suppliers: the buyer optimizes working capital, and the supplier generates additional operating cash flow, thus Minimize risk throughout the supply chain. There are three pain points in traditional supply chain finance: 1. Information cannot be shared, efficiency is low, and credibility is poor; 2. Bill circulation is inconvenient, contract settlement is slow, and there are often financial risks; 3. Credit cannot be transferred and financing is difficult. The blockchain can realize the following functions: 1. Sharing transaction data, receivables and payables data among core enterprises, multi-level suppliers, and financial institutions while protecting commercial privacy; 2. Transfer of corporate claims and automatic settlement of funds, accelerating corporate recovery. Payment and repayment; 3. The core enterprise's payment commitments flow among multi-level suppliers and financial institutions to convey the core enterprise's credit.
2. Blockchain traceability In the field of commodity traceability, blockchain and Internet of Things technology are combined to trace the entire process of commodity circulation to prevent unscrupulous traders from taking advantage of the information asymmetry in the commodity chain to produce counterfeit and inferior commodities. Shoddy goods. This prevents certain participants from tampering with data or falsely claiming that information is lost when circumstances are detrimental to them, making it difficult to provide evidence and pursue accountability. In addition, blockchain traceability can open up information islands in different links of the supply chain and improve the collaboration efficiency of the supply chain.
3. Blockchain helps medical services Blockchain technology can open up multiple links such as hospital prescription issuance, pharmacist review, drug distribution, drug payment, and process supervision. Through blockchain distributed storage and accurate matching of information on the chain with patients, the one-time dispensing effectiveness of prescriptions is ensured, prescription modification or abuse is prevented, and supervision is facilitated. In the future, patient information, prescription information, drug circulation information, etc. will be encrypted and desensitized through blockchain technology, which can open up more medical application scenarios.
4. Integration of Blockchain and IoT Industrial Internet At the 5th World Internet Conference, the supET Industrial Internet platform, which integrates Internet of Things and blockchain technology, was selected as the world's leading Internet scientific and technological achievement and became the only The award-winning industrial Internet platform.

In addition, blockchain data sharing, blockchain judicial chain, blockchain charity, trusted digital content copyright services, etc. In areas such as government, finance, industry and logistics, healthcare, retail andIn the Internet industry, blocks have a wide range of business application scenarios.

⑵ What are the good blockchain projects in 2020?

The history of digital currency has been developing for more than ten years since the birth of Bitcoin in 2009. A total of more than 100 blockchain projects have appeared around the world. Thousands of blockchain projects have experienced the blockchain 1.0 and 2.0 eras. Blockchain is about to enter the 3.0 era, that is, the era of token economy. The emergence of commercial platforms has made the 'token economy' possible and brought The development of productivity and the transformation of production relations.

Based on this background, the NGK Token came into being. The platform has many technologically leading R&D elites and strong support from many powerful investment companies. It is licensed by SEC Securities in the United States. Supervision by the Exchange Commission.

The NGK.I0 team has been concentrating on researching and launching a profit method that combines the NGK blockchain digital currency fund and industrial ecology since 2018 to comprehensively create a more complete business ecosystem and will surely Leading the blockchain market again

NGK Pass serves as a barrier-free pass on the NGK.IO platform, thereby connecting online and offline merchants from all walks of life and realizing commercial applications, not only assisting traditional industries Transformation and upgrading have leveraged the Internet economy and promoted the development of the real economy

NGK.IO has a built-in Turing-complete programming language that users can use to construct and define their own various Features, you can develop your own applications and blockchain systems, and issue your own currency.

NGK.IO also has side chains that can be customized with one click. NGK.IO provides proprietary cross-chain and Cross-contract technology links the main chain and side chains together. Whether it is contract assets on NGK.IO or assets not on NGK.IO, they can be freely used through NGK.IO’s cross-chain and cross-smart contract technology. Complete value transfer and exchange.

Moreover, NGK.IO does not need to consume GAS at every step like Ethereum when running smart contracts, which makes it possible for users to use Dapps for free, which is more in line with the use of Internet products. A business model that is free and relies on value-added services and advertising to make profits

So we can think that Dapps developed based on NGK.IO are real Dapps.

Design of NGK.I0 The goal is to exceed 1 million TPS, and it is proposed that the block confirmation time of NGK.IO will reach 3 seconds. Therefore, NGK.IO will have very excellent performance and is expected to change the current situation where blockchain technology cannot be implemented

From this we can predict that in the future, many blockchain entrepreneurial projects will choose to issue tokens based on NGK.IO, develop a large number of Dapps that can be implemented, and attract hundreds of millions of users to use
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NGK.IO is expected to form a rich and complete business ecosystem, and at the same time generate a large demand for transaction tokens.

NGK.IO makes full use of the blockchain and the NGK.IO ecosystem to establish a secure, verifiable, fair, decentralized, trustless, and borderless business and financial area. The blockchain system provides innovative enterprise teams with financial services and industry incubation services such as industrial funds, Internet funds, blockchain funds, Internet of Things and artificial intelligence, and creates a world-class ecological business closed loop.

And through cross-chain, value exchange can be formed for different consumption scenarios, providing certain technical strength for the commercialization process of the global "token economy"!

I believe that in the future NGK.IO will definitely improve the speed of value exchange by leaps and bounds, thereby realizing a truly united and interoperable value network! #digital currency # #blockchaininformation # #currency circle news # #Mining gold rush # #currency circle news #

⑶ What are the companies currently using blockchain technology?

The large domestic blockchain companies include Xinchen Technology and Yinjiang Shares, Great Wall of China, Radio and Television Express, Hundsun 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. In 2017, its subsidiaries began to lay out the blockchain industry and invested in the development of blockchain-related technologies.R&D work, and obtained four blockchain technology copyrights in March 2018, becoming a pioneer in blockchain application 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 the industry development needs of digital currency, the company has set up 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.

⑷ Blockchain technology

Blockchain technology is called distributed ledger technology. It is an Internet database technology. It is characterized by decentralization, openness and transparency, allowing everyone to Individuals can participate in database recording.

Blockchain technology will be applied to credit reporting, transaction security and information security in the financial industry. Financial data security, information privacy and network security are suitable for distributed block technology. Blockchain can form point-to-point digital value transfer in finance, thus improving the security of transmission and transactions.

Domestic blockchain technology companies started late, but there are many ICO projects and they are developing very rapidly. Currently, the well-known blockchain technology companies include Yingtang Zhongchuang, Feifang Sentian Integrity, and Luyi Tong et al.

In these well-known companies, token prices vary, but those that use blockchain technology for commercial applications, such as Yingtang Zhongchuang in Shenzhen, develop commercial application technology and use blockchain The chain commodity Internet of Things comprehensive service platform is the core, providing enterprises and consumers with more competitive production management, warehousing management, anti-counterfeiting traceability, precision marketing and other services.

With the increase of ICO projects, supervision will inevitably follow the trend. Therefore, whether it is well-known or unknown, only by truly applying technology and applying blockchain technology to commercial applications can we truly succeed. More long-term.

⑸ Which supply chain finance platform is better?

Fengrong.com is good. It is a leading Internet financial innovation company in China and a wealth management platform for warehousing finance and supply chain finance. It is paid by Sina The Sina piggy bank provided provides value-added services for user account balances. Relatively speaking, the investment is relatively reliable, and it is mainly a supply chain financial management product. Everyone knows that the benefits of supply chain financial management are rigid redemption and investment is guaranteed

< p>⑹ Which blockchain financial system development company is better

Blockchain finance is the application of blockchain technology in the financial field. Blockchain financial system development will become increasingly rich., the pace of technological innovation and model innovation will accelerate, and as the scope of applications accelerates from financial to non-financial fields, blockchain will gradually become an important part of the future Internet, laying an important foundation for building a value network. In the application of blockchain technology, Yingtang Zhongchuang's blockchain system development is currently a major platform.

⑺ A comprehensive review of supply chain finance of 13 banks: from the five major commercial banks to city commercial banks, continuous innovation

In the traditional In the business development model, banks' supply chain finance business is highly dependent on the credit of core enterprises and is mainly offline. It consumes manpower and energy, and the business also faces bottlenecks that are difficult to scale up.

During the "Steel Trade Crisis" in 2012, many steel industry suppliers used multiple mortgages and pledges of goods to conduct fraudulent financing, which led to a spike in the NPL ratio of the banks involved, and has since then affected the supply chain. Chain Finance is timid.

Nowadays, the external environment of the market has quietly changed. In recent years, banks have paid more and more attention to the power of financial technology. Many banks have established directly affiliated financial technology companies, with increasingly mature intelligent warehousing and monitoring, electronic contract signing, New technologies such as blockchain are also gradually being applied to supply chain financial services, and banks' past weaknesses in risk control are being increasingly eliminated.

Coupled with the country’s strong policy support for supply chain finance business and the huge market financing gap in accounts receivable of domestic small and medium-sized enterprises, it is imperative for banks to “return to the battlefield of supply chain finance”. The new business model supported by online Internet, blockchain and other technologies is becoming a breakthrough tool for supply chain financial business.

So what are the specific changes in the layout of supply chain finance among banks today? Based on the annual report data released by various banks in 2018, Zhixin has summarized the industry development profiles of 5 large commercial banks, 4 representative joint-stock banks, two city commercial banks, and e-commerce private banks as follows:

▌ Industrial and Commercial Bank of China

The new changes in ICBC’s supply chain finance business are mainly reflected in its online small and micro financial service platform. There are three main products: “Online Loans” and “Online Supply Chain Financing”. ICBC also cooperated with the platform party China Enterprise Cloud Chain to innovate core digital accounts receivable confirmation credentials that can be transferred to multiple levels, further extending the credit of core enterprises to small and micro enterprises at the end of the supply chain.

In the first nine months of 2018 alone, ICBC has provided a total of more than 45 billion yuan in online supply chain financing to 1,300 upstream and downstream customers. As of the end of 2018, ICBC's total loans to small and micro enterprises reached 321.685 billion yuan, a year-on-year increase of 18.1%. The number of small and micro financial business centers also reached 258, comprehensively promoting the implementation of supply chain finance business.

▌Agricultural Bank of China

Agricultural Bank of China develops supply chain financeIntegration is first reflected in system construction. In 2018, the Agricultural Bank of China Head Office established a business unit structure of “Inclusive Finance Division + Eight Backstage Centers”. 37 first-tier branches and key second-tier branches have all established inclusive finance divisions, forming an inclusive finance division. An inclusive financial service system driven by the two-wheel drive of “agriculture, rural areas and rural areas + small and micro enterprises”.

In terms of promoting specific businesses, Agricultural Bank of China mainly provides comprehensive online financing services to upstream and downstream small and micro customers of core enterprises through the development of "data online lending" business. As of the end of 2018, Agricultural Bank of China has issued 23,000 loans to upstream and downstream small and micro enterprises of many core enterprises, with a total amount of 9.1 billion yuan. Recently, the Agricultural Bank of China has also cooperated with the platform party China Enterprise Yunyun Chain to launch a new supply chain product "Factoring e-Financing" to provide financing for core enterprises' upstream and downstream suppliers at all levels.

▌Bank of China

With its advantages in international trade finance, Bank of China launched a supply chain financing product "Rongyida" as early as 2007, which was established in 2009 The supply chain team has also officially launched its efforts in supply chain finance. During the seven-year period from 2009 to 2014, the amount of its supply chain finance business exceeded 74 billion yuan to 1 trillion yuan, with an average annual compound growth rate of 68%. At the end of 2011, Bank of China realized the implementation of the first online supply chain finance project by directly connecting the order information of platform financiers to the Bank of China system through "bank-enterprise docking". Subsequently, through this method, it has expanded to more than 300 companies such as JD.com and Suning. A company has issued more than 10 billion yuan in online financing.

The Bank of China's 2018 annual report also shows that it is participating in the construction and commissioning of the "Block Chain Forfeiting Trading Platform" and the "Digital Bill Trading Platform" and will continue to use "electronic Expand supply chain financial business in the direction of "innovation" + "globalization". As of the end of 2018, its inclusive finance small and micro enterprise loan balance was 304.2 billion yuan, an increase of 12.26% from the end of the previous year.

▌China Construction Bank

In 2018, China Construction Bank proposed a three-year strategic plan for the development of inclusive finance, and in terms of organizational construction, it achieved the first and second level of the inclusive finance division. With full branch coverage, a total of 288 small business centers have been established.

Specifically speaking, at the business level, CCB has designed and developed a series of services including accounts receivable financing, gold and silver warehouses, focusing on the operation of the “three streams” of information flow, logistics and capital flow from corporate procurement, manufacturing, sales to end users. , chattel pledge financing, order financing, chattel pledge financing and more than ten supply chain financing products. In business acceptance, China Construction Bank focuses on the real transaction background of the business, the high degree of embeddedness between products and corporate information flow, logistics and capital flow, and the need to provide structured and combined services. As of the end of 2018, CCB has issued a total of 538.5 billion yuan in online supply chain financing to 33,000 companies, with 1,184 online supply chain cooperation platforms. The balance of loans in the inclusive finance field was 631.017 billion yuan, an increase from the previous year212.515 billion yuan.

▌Bank of Communications

Bank of Communications carries out supply chain finance business mainly through the "Yuntong Supply Chain" platform, and mainly focuses on core enterprises in automobiles and other industries, through cooperation with large domestic Logistics companies carry out pledge supervision cooperation and carry out credit insurance cooperation with insurance companies. Bank of Communications has successively launched products such as "Kuiyi Tie", "Kuai Yishou" and "Kuai Yipay", creating the "Yuntong e-Chain" A series of supply chain financing products.

As of the end of 2018, the Bank of Communications has expanded its domestic industrial chain network to more than 3,000 companies, and the financing balance of industrial chain financial products exceeded RMB 110 billion, an increase of 22.42% from the end of the previous year. The Bank’s blockchain technology has already In the field of automotive Internet of Things finance, the accounts receivable chain business is also advancing rapidly.

▌Ping An Bank

Ping An Bank (formerly Shenzhen Development Bank) is the first commercial bank in China to get involved in and advocate the development of supply chain finance business. In 2002, Shenzhen Development Bank became the first systemic bank in China. A bank that proposes and promotes supply chain finance and trade finance product portfolios. In 2005 alone, Shenzhen Development Bank's "1+N" supply chain finance model created a credit line of 250 billion yuan, and the non-performing loan rate that year was only 0.57%.

In the online layout, for core enterprises in the industry chain and their upstream customers, Ping An Bank launched the Supply Chain Accounts Receivable Service Platform (SAS Platform) in 2018 to provide online transfer of accounts receivable. , financing, management, settlement and other comprehensive financial services. The SAS platform comprehensively applies core technologies such as "Ping An Blockchain" and "Artificial Intelligence + Big Data" to implement intelligent verification and continuous monitoring of the authenticity of trade backgrounds. As of the end of 2018, the cumulative transaction volume of Ping An Bank's SAS platform has exceeded 10 billion yuan, providing services to 111 core enterprises and their upstream small, medium and micro enterprises.

▌ Shanghai Pudong Development Bank

Shanghai Pudong Development Bank first launched the "Enterprise Supply Chain Financing Solution" in 2007 to provide core enterprises with credit services, procurement services, inventory turnover, account collection, etc. Financing support. Since 2011, Shanghai Pudong Development Bank has been committed to building a unique supply chain financial platform, and has cooperated with many core enterprises and logistics companies such as China Mobile, Shenlong Automobile, and COSCO Logistics to achieve the integration of information flow, logistics and capital flow.

In terms of online layout, Shanghai Pudong Development Bank has launched products such as “Jingpu e-Account” and “Jingpu e-Commerce Loan” to acquire customers in batches from core asset-side enterprises and provide them online. In the field of chain finance, innovative products such as "Government Procurement e-Loan" and "Bill Pool Instant Loan" have been launched, as well as products such as cloud fund supervision and e-enterprise banking comprehensive service platform. As of the end of 2018, Shanghai Pudong Development Bank has served more than 31,300 technology-based corporate customers in the supply chain field, promoted 20 automobile supply chains, and served automobiles.There are 864 upstream and downstream customers in the industry.

▌ China CITIC Bank

China CITIC Bank’s supply chain finance business is mainly promoted by building three major platforms, four major value-added chains and five major characteristic networks. The three major platforms include logistics financing platform, peer cooperation platform and government support platform. The four major value-added chains include the creation of accounts receivable value-added chain, prepaid accounts value-added chain, logistics service value-added chain and electronic service value-added chain. The five major characteristic networks are automobile finance. Internet, steel financial network, home appliance financial network, telecommunications financial network and petrochemical financial network, etc.

China CITIC Bank also successfully launched a full-process online supply chain finance platform innovative product "Chinese e-Chain - Payment and Circulation Integration" in October 2018, integrating CITIC Bank's business system with the core enterprise's supply chain finance platform Docking, with the help of multi-level circulation of standardized electronic "payment vouchers", it provides full-process, online financing to its upstream N-level suppliers. In 2018, CITIC Bank also launched the country's first blockchain forfaiting trading system and released a "blockchain + supply chain" pilot innovation project. As of the end of 2018, the business volume on its chain exceeded 10 billion yuan.

▌Zheshang Bank

Supply chain finance is an important strategic task for Zheshang Bank’s current development. Zheshang Bank began to study the application of blockchain technology in 2016, and in 2017 In August, we took the lead in putting into production the receivables chain platform developed based on blockchain technology. Focusing on supply chain finance, Zhejiang merchants innovate "pooling" and "online" financing business models, and continue to focus on the three pools (Yongjin bill pool, Yongjin asset pool, and Yongjin export pool). Business platform for business development.

The first is the pool financing platform. In 2018, it signed contracts with 22,290 customers, a year-on-year increase of 43.58%. The asset balance in the pool was 350.679 billion yuan, and the cumulative number of accounts receivable entered into the pool was 100,800. The amount is approximately 72.9 billion yuan. The specific product "Zhizhendai" signed contracts with 1,645 customers in 2018, a year-on-year increase of 26.25%, and the financing balance was 50.125 billion yuan, a year-on-year increase of 44.68%.

The second is the Yiqiyin platform for core corporate financial services. In 2018, a total of 234 Yiqiyin platforms were launched, an increase of 172.09% from the end of the previous year. The platform’s cumulative financing was 36.785 billion yuan, an increase of 485.28% from the end of the previous year. %.

The third is the accounts receivable chain platform. By the end of 2018, Zheshang Bank had launched 1,410 accounts receivable chain platforms, a year-on-year increase of nearly 12 times, and the cumulative issuance amount was 122.878 billion yuan, a year-on-year increase of nearly 4 times.

▌Shanghai Bank

The Bank of Shanghai released the "Uplink e-Chain" online supply chain financial service platform in October 2018, and established a new supply chain finance department in April this year. , expand and cover the business model to all aspects of core enterprise procurement, production, sales, etc., while using big data to developStart building a corporate credit model.

"Upstream e-Chain" is based on the online supply chain financial service platform, covering 3 major categories and a total of 15 products. By sharing data with core enterprises to build a platform, it can master the required information flow, capital flow and Logistics, forming closed-loop management. At the same time, Bank of Shanghai cooperates with Jiangsu Runhe Software to introduce blockchain technology to realize the divisible and combinable payment of core enterprise credit, thereby extending the credit of core enterprises to second-, third- and fourth-tier suppliers. In 2018, the Bank of Shanghai realized supply chain finance loans of 52.487 billion yuan, a year-on-year increase of 117.22%. At the 2018 Bank of Shanghai Annual Meeting, this figure is expected to increase to 100 billion yuan by 2020.

▌Bank of Beijing

Bank of Beijing plans to provide "e-commerce and finance" comprehensive service solutions for the trading market. With the help of the credit of the commodity trading platform, it provides full-process financial services to platform traders. Create an innovative online business model of "supply chain finance + capital depository". At the specific product level, the online supply chain product of "Jingxin Chain" was launched to extend the credit of core enterprises to upstream multi-level suppliers and realize the split and transfer of accounts receivable claims. As of the end of 2018, the balance of Bank of Beijing's small and micro enterprise loans was 425.6 billion yuan, a year-on-year increase of 19%.

In addition, other e-commerce private banks such as WeBank, Suning Bank, MYBank, etc. have also made plans in supply chain finance business. WeBank is currently expanding its supply chain finance business based on blockchain technology. In addition to its own way of expanding core enterprises, WeBank has also proposed a "bank-bank cooperation" model in which WeBank provides grassroots technology and cooperates with city commercial banks to develop business.

Suning Bank successfully launched the domestic letter of credit information transmission system (BCLC system) based on blockchain in September 2017, and pioneered the "Internet of Things + Blockchain" movable asset in September 2018. Pledge financing was the first of its kind. Based on the coal inventory of a certain company, Suning Bank gave the financier a credit line for movable property pledge and successfully realized the loan. At the same time, its blockchain + Internet of Things automobile and finance platform, and blockchain + Internet of Things 3C commodity supervision platform have also been put on the release schedule.

As banks continue to deepen their development in supply chain finance business, this business will not only serve the real economy, but also bring new profit growth points to the business side and the addition of financial technology. It will also continue to promote the update and evolution of market business models and form a virtuous business ecological cycle.

⑻ What are the famous blockchain companies in China?

There are still many domestic companies that are actually doing blockchain technology, such as Qulian Technology , Wanxiang Blockchain, Energy Chain Group, Complex Beauty Technology, Galaxy Blockchain, Zhigui Technology, and Medical Chain Group are some of the well-known companies in the industry with good technology. Internet giants basically have blockchain sections.

⑼ 10 ways blockchain changes existing businessIs there a case?

This article introduces the current 10 main usage scenarios of blockchain:

(1) Tracking products in the global supply chain;

It is the safe traceability of blockchain technology Typical usage scenarios 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, and the ID of each ballot is recorded instantly at every polling location.

(7)For farmersStart Crop Insurance;

Crop insurance customized to specific farmer needs is often very expensive, and blockchain technology can reduce costs by identifying trigger conditions and automating their 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 masters 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, 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 and terms can be achieved through this platform.Complex contracts, of course, come at the cost of making them 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.

Regarding 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 require KYC verification.

Due to the anonymous nature of the blockchain, especially the emergence of anonymous coins,Nowadays, BTC is 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. 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 the "White Paper on the Development of Blockchain in China and the United States" released by Silicon Valley Insights, in terms of the number of ICOIn terms of financing, North America is comparable to Asia. 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 the infrastructure for building new finance and the cornerstone of the future value Internet.

BlockUse of chains

There are currently two main modes of use of blockchain:

1) Native blockchain use: directly based on decentralized blockchain technology to achieve value transfer and transactions. , 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 features 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”, 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 avoids "one vote". Sell ​​more". For example, Shenzhen Blockchain FinanceService Co., Ltd. issues bill chain products and provides bill financing services based on the 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 Industrial 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 widely used in many industries with distributed processing, peer-to-peer transactions, and rapid establishment of trust relationships.It has great use value in the industrial field. Its core is to solve the problem of credit and realize the point-to-point transmission 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.