论文区块链金融怎么写,区块链 金融 论文

随着社会的发展，金融业务正在发生巨大的变化，引入了新的技术，例如区块链技术。区块链技术可以实现金融业务的快速、安全和有效的发展，为金融机构提供更多的投资机会和服务，改善金融机构的运营效率和提高客户满意度。

区块链技术是一种分布式数据库技术，它可以实现金融机构之间的无缝交互，使金融机构可以更快地完成交易，提高效率，降低交易成本。它还可以帮助金融机构预防欺诈和资产损失，提高金融机构的安全性。

此外，区块链技术还可以改善金融机构的客户体验，例如，它可以提供实时的交易结果，更便捷的资产管理，更可靠的资产安全等。它还可以帮助金融机构实现新的支付服务，使客户更容易获得金融服务。

另外，区块链技术还可以帮助金融机构实现自动化，提高管理效率，降低人力成本，实现更多的投资机会和服务。通过使用区块链技术，金融机构可以更快地实现自动化，提高管理效率，减少人力成本，实现更多的投资机会和服务。

总之，区块链技术是一种重要的金融技术，它可以实现金融业务的快速、安全和有效的发展，为金融机构提供更多的投资机会和服务，改善金融机构的运营效率和提高客户满意度。因此，金融机构应该充分利用区块链技术，提高金融服务的安全性、可靠性和效率，以满足客户的需求。

Ⅰ What is blockchain technology and how does it change business and financial models

What is blockchain technology and how does it change business and financial models? According to reports, since the end of March, the tour guide team led by Yang Feihu has been receiving inquiries from out-of-town individual tourists. “There are many families traveling to Wuhan from out of town. Several families come together by car or by high-speed rail,” Yang Feihu said. , Yellow Crane Tower, Hubei Provincial Museum, and East Lake Scenic Area are still places to check in. "It's hard to get a ticket for the Hubei Provincial Museum now, and all the seats for the May Day period have been reserved." He and a number of parents looking for relatives went to Shuidun Town, Zijin County, Heyuan City, Heyuan City. Because Zhang Weiping once confessed that this was the place where Aunt Mei lived, and it was also the place where 8 of the 9 abducted children in the "Aunt Mei Case" were sold.

Ⅱ Blockchain Graduation Project Proposal

Background of the project research:

With the development of modern technology and information industry, at this stage, the fourth The second industrial revolution is beginning to take shape, and the world is about to enter a technological era centered on new technologies such as the Internet and artificial intelligence. At the same time, blockchain technology has emerged as the times require and has become a hot topic of concern to many international governments and industries. Blockchain technology has been regarded as the core technology with the greatest potential to trigger the fifth round of disruptive revolution after steam engines, electricity, information and Internet technology. In the past 10 years, with the strong support of the government and policies, the development situation of my country's philanthropy has been relatively optimistic. However, as the scale of charity continues to develop and expand, my country's public welfare undertakings have gradually revealed some shortcomings. The biggest problems existing in traditional public welfare undertakings are insufficient credibility, imperfect internal management of charitable organizations, and high costs. However, many Internet public welfare service companies are currently actively using the new technology of blockchain to solve this problem. Blockchain technology has the characteristics of decentralization, information traceability and non-tampering, openness and transparency, and smart contracts. It can make up for the shortcomings of traditional public welfare undertakings such as opaque information and low management efficiency. Blockchain technology will enter public welfare undertakings and will Bring new development opportunities to the charity industry.

The main content of the research: This topic mainly includes the following three aspects:

[if !supportLists] 1. [endif] Combination of blockchain technology and public welfare Problems that arise and solved.

[if !supportLists] 2. [endif] Make a public welfare query webpage based on blockchain technology

[if !supportLists] 3. [endif] The query system Application issues and explanation

Purpose of the research:

As the scale of my country’s public welfare continues to develop and expand, our shortcomings have also been exposed. Insufficient credibility, charitable organizations Lack of management, and using blockchain technology canto achieve the effect of solving this problem. This technology will track and store data and behaviors throughout the donation process, realize the complete disclosure of the public welfare chain, enable donors to effectively supervise, avoid shortcomings such as low efficiency and clear fund flows, and control risks for public welfare projects, improving Credibility and transparency of public welfare projects promote the development and progress of public welfare projects and enhance trust between people. According to the attributes and characteristics of the blockchain system, public welfare enterprises can implement full-cycle tracking, evidence storage and auditing of data and behavior in the public welfare process, so that all parties involved in public welfare projects can conduct full-process tracking and effective supervision of the project, avoiding Due to the shortcomings of artificially reducing efficiency in public welfare, it provides a rational method for public welfare projects to control risks and judge effects, improve the transparency of public welfare undertakings, and promote the development of public welfare.

Significance of the project research: This project intends to develop an open and transparent system for tracking public welfare donations based on blockchain technology and combined with the actual development of public welfare undertakings in my country. Through in-depth analysis of blockchain technology and charity business, we found that blockchain technology has natural advantages in solving the problem of public welfare transparency. Blockchain technology can be understood as a distributed accounting method that can record all transaction information and ensure that it cannot be tampered with. This determines that wherever justice, fairness, and integrity are required, blockchain has great technology. Room to play. At the same time, the addition of smart contracts directly solves the business problem of earmarked funds.

Eventually, trust between citizens will be enhanced, donation channels will be accelerated, and the development of social donations will be promoted

2. Literature review (current status and development of relevant research at home and abroad Trend)

[if !supportLists] (1) [endif] Current status of foreign blockchain-related industries

China and Europe are gradually occupying the world in blockchain industry policies, and the EU is The European Blockchain Observation Forum has been established in February 2018. Its main responsibilities include: policy determination, industry-university-research linkage, cross-border BaaS

(Blockchain as a Service) service construction, standard open source formulation, etc. Investing 5 million euros in Horizon2020 as a blockchain research and development fund (before December 19, 2018), it is expected that investment in blockchain will reach 340 million euros within three years (2018-2020). In the United States, due to different policies among states, although blockchain is still a craze among American start-ups, the promotion of industrial policy has been slow. The Middle East, led by Di Pai, is leading the trend of blockchain. The government is taking the lead and enterprises are cooperating to explore new technology applications of blockchain. Japan and South Korea are also relatively active in the Asia-Pacific region. Japan is mainly NTT, with the government providing support, and South Korea is mainly financial.Explore blockchain applications as an entry point. Isism is also a constant threat to all areas of Chinese society. A comprehensive review of the development status of new media culture in major foreign developed countries, summarizing experiences, and drawing lessons have certain implications for the development of new media culture in China.

[if !supportLists] (2) [endif] Current status of domestic new media research

The State Council of China issued the "Thirteenth Five-Year Plan for National Informatization", Blockchain New technologies such as big data, artificial intelligence, and machine deep learning have become the focus of the country’s layout. The People's Bank of China issued the "Thirteenth Five-Year Plan for the Development of Information Technology in China's Financial Industry", which clearly proposed to actively promote research on the application of new technologies such as blockchain and artificial intelligence, and organize pilot projects for national digital currencies. In October 2017, the Ministry of Industry and Information Technology released the "White Paper on China's Blockchain Technology and Application Development", which is the first official guidance document for blockchain.

Governments across the country, especially in coastal areas, have established blockchain experimental sites and research institutes. Currently, governments in Shenzhen, Hangzhou, Guangzhou, Guiyang and other places are actively establishing blockchain development zones and providing special support policies. China Guangzhou officially released 10 Guangzhou blockchain strategies in December 2017 to create a blockchain enterprise technology innovation zone in Huangpu District and Development Zone. In March 2018, the Shenzhen Municipal Economic, Trade and Information Commission issued the "Notice of the Municipal Economic, Trade and Information Commission on Organizing and Implementing the Second Batch of Support Plan for the New Generation Information Technology and Information Security Transformation of Shenzhen's Strategic Emerging Industries in 2018". The district Blockchain is on the list of support directions. This is the fifth local government in China to introduce support policies for blockchain after Guangzhou, Guiyang, and Gehangzhou.

(3) Current status of blockchain in the open source field

Hyperledger

Hyperledger is developed by the Linux Foundation The open source project to promote blockchain digital technology and transaction verification, launched in 2015, has attracted the participation of many companies including IBM, Intel, Fujitsu, UPS, Cisco, Huawei, Redhat, Oracle, Samsung, Tencent Cloud, Internet Finance, etc. Currently, There are already more than 200 member units, and Bran Behlendorf, founder of the Aache Foundation, serves as the executive director of the ledger project.

The goal of the Hyperledger project is to allow members to work together to build an open platform to meet user cases from many different industries and simplify business processes. Process Ledger has multiple blockchain platform projects, including the Fabric project contributed by BIM, and the Sa by Intel.wtooth project, as well as Iroha, Burrow, Indy, etc.

The development status of blockchain in the field of standards

ITU-T

ITU-T (International Telecommunication Union Standardization Organization) from 2016 to 2017 At the beginning of the year, SG16 (Study Group), SG17 and SG20 respectively launched research on the overall needs and security of distributed ledgers to attract applications in the Internet of Things. Established three focus groups (Focus Group on Distributed Ledger (FG DLT), Focus Group on Data Processing and Management (FG DPM), and Focus Group on Fiat Digital Currency (FG DFC)), focusing on blockchain and distributed ledger respectively. Technology application and service research, establishing a trustworthy Internet of Things and smart city data management framework based on blockchain, and carrying out standardization work on blockchain applications based on digital currency. Huawei serves as the chairman of the Architecture Group of the Focus Group on Distributed Ledgers (FG DLT) and the Blockchain Group of the Focus Group on Data Processing and Management (FGDPM).

Two committees of CCSA (China Communications Standards Association) have established subgroups and projects respectively:

CCSA TC10 (Internet of Things Technical Working Committee) Established in October 2017, the Internet of Things Blockchain Subgroup: Responsible for the application research and standardization of blockchain technology in the Internet of Things and its covered areas such as smart cities, Internet of Vehicles, edge computing, Internet of Things big data, Internet of Things industry applications, logistics and intelligent manufacturing, and is led by China China Unicom technical experts serve as team leaders, and Huawei technical experts serve as deputy team leaders.

The Blockchain and Big Data Working Group under CCSA TC1 (Internet and Application Technology Working Committee) completed two blockchain industry standards: "Blockchain: Part 1 Overall Technical Requirements for Blockchain ” and “Blockchain: Part 2 Evaluation Indicators and Evaluation Methods”, in which Huawei actively participated.

JPEG

During the 78th JPEG Conference in February 2018, the JPEG Committee organized a special session on blockchain and distributed ledger technology and their impact on the JPEG standard. Meeting. Taking into account the potential impact of technologies such as blockchain and distributed ledgers on future multimedia, the committee decided to establish an ad hoc group to explore use cases and standardization needs related to blockchain technology in a multimedia environment, with a focus on imaging and multimedia applications. standardization work.

IETF

"Decentralized Internet Infrastructure ProposedRG" was established at the ETF99 meeting in June 2017
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(Research Group), plans to study the blockchain architecture and corresponding standards. In 2018, IETF will likely pay more attention to the implementation and development of blockchain interconnection standards on the blockchain.



3. The proposed research methods (plans, technical routes, etc.) and feasibility demonstration

This topic mainly studies blockchain technology Research methods adopted in combination with charitable donations:

1. Collect relevant theories using the literature method, collect literature materials and related theories using information retrieval, screening and other methods, and come to the blockchain The current state of technology and mastering blockchain decentralization technology.

2. Combine the technology with public welfare by combining theory and practice. Complete improvements to the system.

3. Use the method of comparative analysis to discuss the current development status of new media operations from both domestic and foreign aspects, as well as existing problems in the development of my country's new media operation models, and look forward to the development prospects of this technology field.

Feasibility demonstration:

1. Technical feasibility. The research goals involved in this topic already have considerable theoretical foundations at home and abroad. Through literature survey, we can learn about actual, reliable and useful information data, and the actual requirements are not difficult.

2. Economic feasibility. The research on this topic can be done by accessing literature and materials through the Internet and libraries. It is convenient and feasible and does not require a lot of economic consumption. Therefore, from an economic point of view, it is completely feasible.

3. Operational feasibility. This topic requires the combination of blockchain technology and public welfare, especially the tracing of these applications. A comprehensive analysis of the graduation project system on this topic can be achieved through the analysis of both Study the literature and study the existing information documents, use the data you collected to organize and analyze, apply what you have learned, and complete this project completely. From an operability point of view, it is completely feasible.

4. Expected results (or expected results)

1. Through research on the data, clarify the relevant concepts of blockchain technology, skillfully use dapp, and create a web page.

2. Through distributed applications, creating a system that allows the public to quickly browse and understand the public welfare process will increase convenience for the further development of my country's public welfare undertakings.

3. I hope that I can continue to learn and make progress from the process of writing this paper. Being able to master the relevant knowledge of blockchain will be helpful to your future career.

Ⅲ What is blockchain technology and how it changes business and financial models

Blockchain technology is a distributed ledger technology that allows multiple participants to jointly maintain a secure, transparent and immutable record on a decentralized network. Blockchain technology was originally designed for the digital currency Bitcoin, but is now widely used in many other fields.

The core features of blockchain technology include:

Decentralization: Blockchain has no central control agency, and data is distributed on various nodes in the network, which makes it decentralized. The centralization feature reduces the risk of single points of failure.

Transparency: Transaction records on the blockchain are public to all participants, and anyone can view these records. This helps increase trust and reduce the risk of fraud.

Immutable: Once a transaction is recorded on the blockchain, it cannot be easily modified or deleted. This guarantees data integrity and security.

Smart contracts: Transactions on the blockchain can be automatically executed to implement "smart contracts", which automatically execute corresponding operations when specific conditions are met. This helps simplify complex business processes and reduce costs.

Blockchain technology has had a profound impact on business and financial models, which is mainly reflected in the following aspects:

Reducing costs: Blockchain technology can reduce intermediary links and reduce costs. Transaction costs and operating costs. For example, by adopting blockchain for cross-border payments, remittance fees can be significantly reduced.

Improving efficiency: The automation and smart contract features of blockchain technology help improve the efficiency of business processes, reduce manual intervention, and reduce error rates.

Enhance trust: The transparency and non-tamperability of blockchain technology help to establish a reliable trust system, reduce the risk of fraud, and provide better protection for commercial activities.

Innovative business models: Blockchain technology has spawned many new business models, such as decentralized finance (DeFi), digital asset trading, supply chain finance, etc. These new business models have brought disruptive changes to existing industries.

In short, blockchain technology, as an emerging technical means, is gradually changing the landscape of business and finance. With the continuous development of technology and the in-depth promotion of applications, blockchain is expected to have a more extensive and far-reaching impact in the future

IV Application of blockchain in the financial field

1. Application and development of blockchain

Some Internet, Internet start-ups and traditional financial industries have begun to try to apply blockchain in some projects

2. Domestic financial institutions test the waters of blockchain

Various financial institutions are testing the waters one after another, and they are basically in the conceptual experimental stage and have not yet been commercialized on a large scale.

3. Panorama of the application of blockchain in the financial field

4. Ghostwriting

5. Digital bills

Bills are financial An important financial product in the market, it has dual functions of payment and financing, has the characteristics of high value, and bears bank credit or commercial credit. Once a bill is issued, its face amount, date and other important information cannot be changed. Bills also have circulation attributes and can be accepted, endorsed, discounted, rediscounted, collected and other transactions within a specific life cycle. Once the transaction is completed, the transaction cannot be revoked. There are two characteristics in the circulation of bills: First, the circulation of bills mainly occurs through bank acceptance bills, and the number and circulation of commercial acceptance bills are small; second, each bank independently conducts credit granting and risk control on the bill business, and a single bank's Risk control results may affect other participants in the bill market transaction chain.

The experimental production system of the digital bill trading platform uses SDC (Smart Draft Chain) blockchain technology to protect privacy through cryptographic algorithms such as homomorphic encryption and zero-knowledge proof. The Byzantine Fault Tolerance Protocol (PBFT) performs consensus and uses a see-through mechanism to provide data monitoring.

The experimental production system includes four subsystems: stock exchange, bank, enterprise and monitoring: the stock exchange subsystem is responsible for managing the blockchain and monitoring the digital bill business; the bank subsystem has Digital bills have business functions such as acceptance and receipt, discount signing, rediscounting, and collection and repayment; the enterprise subsystem has business functions such as issuance, acceptance, endorsement, discounting, and prompt payment of digital bills; the monitoring subsystem monitors the status of the blockchain in real time and business happenings

6.

IV Analysis paper on the prospects of blockchain in the financial field

Analysis paper on the prospects of blockchain in the financial field< /p>

Blockchain technology was born in 2008, and its first application was Bitcoin. Blockchain technology uses a decentralized consensus mechanism to maintain a complete, distributed, and non-tamperable ledger database, allowing participants in the blockchain to implement a unified ledger system without establishing a trust relationship. . In 2015, many mainstream financial institutions in Europe and the United States recognized the application prospects of this technology and explored the application of blockchain technology in the financial field. The International Monetary Fund pointed out in a report that "it has the potential to change finance." Some people believe that blockchain technology will change human society as profoundly as double-entry accounting and shareholding.

Blockchain will make it possible for all individuals to become important nodes in the allocation of financial resources. It will also promote the improvement of the existing financial system and financial rules, and build a shared and win-win financial development ecosystem. The emergence of blockchain technology is a revolution in human credit creation. It allows both parties to the transaction to carry out economic activities without the need for third-party credit intermediaries, thereby achieving low-cost value transfer. It can be said that blockchain technology is a more efficient value exchange technology in the Internet era. The Internet has evolved from an information Internet that transmits information to a value Internet that transfers value. This is conducive to traditional financial institutions taking advantage of the opportunity to transform and transform endogenous businesses. Processes and application scenarios are Internetized.

1. Characteristics and shortcomings of blockchain

(1) Main characteristics of blockchain

(1) Decentralization. In the blockchain, there is no centralized hardware or management organization. The distributed structure system and open source protocol allow all participants to participate in the recording and verification of data, which is then sent to various nodes through distributed propagation. Each participant The nodes are all "self-centered", and the rights and obligations are equal. Blockchain is not simply decentralized, but multi-centered or weakly centered. When the Internet of Things makes it possible for all individuals to become central nodes, the central status of traditional financial intermediaries changes, transforming from a monopoly-type, resource-advantaged center and strong intermediary to an open platform, becoming a service-oriented multi-center. Center of differentiation.

(2) To trust. From a trust perspective, blockchain uses a set of open and transparent mathematical algorithms based on consensus specifications and protocols to enable all nodes to automatically and securely exchange data in a trustless environment. Blockchain essentially solves the problem of trust through mathematical methods. All rules are expressed in the form of algorithmic programs. Participants do not need to know the credit level of the counterparty, and do not need transaction endorsement or guarantee verification from a third-party institution. They only need trust. A common algorithm creates credit, generates trust, and reaches consensus for participants through the algorithm.

(3) Timestamp. Blocks are generated by packaging data and code within a period of time. The header of the next block contains the index information of the previous block, and a chain is formed by connecting the end to the end. The blocks that record the complete history and the chain that can be completely verified form a timestamp that can trace the complete history. It can provide retrieval and search functions for each piece of data, and can use the blockchain structure to trace the source, one by one. verify. Therefore, the blockchain is timestamped when generated, forming a database that cannot be tampered with or forged. Modifications to the database on a single node are invalid unless more than 51% of the nodes in the system can be controlled at the same time, so the data reliability of the blockchain is very high.

(4) Asymmetric encryption. The blockchain uses an asymmetric encryption algorithm, that is, a "key pair" is used in the encryption and decryption process. The two keys in the "key pair" have asymmetric characteristics. In blockchain application scenarios, on the one hand, the key is a public key visible to all participants, and all participants canUse the public key to encrypt a piece of authenticity information, and only the owner of the information can use the private key to decrypt it. On the other hand, the private key is used to sign the information, and the signature is verified by the corresponding public key to ensure that the information was sent by the real holder. Asymmetric encryption minimizes friction boundaries in value exchange, enables transparent data anonymity, and protects personal privacy.

(5) Smart contract: Since the blockchain can realize point-to-point value transfer, corresponding programming scripts can be embedded during transfer. This smart contract method is used to handle some unforeseen transaction patterns and ensure Blockchain can continue to be effective. This kind of programmable script is essentially a list of many instructions to achieve pertinence and conditionality in value exchange and to achieve specific uses of value. Therefore, any value exchange activity based on the blockchain can achieve hard control over its use, direction and various restrictions through intelligent programming, eliminating the cost of soft constraints by law or contract.

(2) Main problems of blockchain

(1) High energy consumption problem. There is an impossible triangle in the traditional currency and banking system, that is, it is impossible to achieve decentralization, low energy consumption and high security at the same time. The impossible triangle also exists in the construction of blockchain. For example, in the actual application of Bitcoin, its development has brought about the rapid expansion of computer hardware, and the main costs in the "mining" process have shifted to hardware costs and electricity costs. Therefore, after applying blockchain technology to achieve equity cost benefits, maximizing its technical efficacy has become an urgent problem to be solved.

(2) Storage space problem. Since the blockchain records every transaction information from the initial information in the system, and each node has to download, store and update data blocks in real time, if the data of each node is completely synchronized, the network pressure will be great, and each node will The storage space capacity requirements of each node may become a key issue restricting its development.

(3) The problem of stress resistance. The system built based on the blockchain follows the barrel theory and must take into account the worst processing speed and network environment among all network nodes. Therefore, if the blockchain technology is promoted to a large-scale transaction environment, its overall stress resistance It remains to be verified. If the transaction volume generated per second exceeds the design capacity of the system (the weakest node), transactions will automatically enter the queue and be queued, resulting in a poor user experience.

2. Application of blockchain in the financial field

(1) Financial infrastructure

Blockchain may serve as the infrastructure of the Internet in many fields. All show broad application prospects. In the financial industry, blockchain technology will first affect financial infrastructure such as payment systems, securities settlement systems, and transaction databases. Later, the technology will also expand to general financial services, such as credit systems, "anti-money laundering," etc. This is because, based on the characteristics of blockchain technology, it will first enter the infrastructure field with high trust requirements and high cost of traditional trust mechanisms. In the past, infrastructure was a public product, and new blockchain technologyTechnology and new systems make it possible for more people to participate in the supply of public goods. The future of Internet finance will use Internet technologies such as blockchain to transform the core production systems of traditional financial institutions and build financial enterprises on the Internet.

The current information Internet can be collectively referred to as the TCP/IP model, and HTTP is the most important application protocol in the application layer. In the Internet of Value, blockchain is a point-to-point transmission protocol in the application layer. Its value is the same as that of the HTTP protocol in the information Internet. The huge potential and prospect of blockchain is that it can reconstruct the infrastructure and core production systems of the traditional financial industry, not just at the application level such as APPs. This is because, at the network level, the blockchain is based on the IP communication protocol and the distributed network; at the data level, the blockchain database system is brand new and is significantly better than the existing one. There is a database for the financial system; at the application level, blockchain-based registration, settlement, clearing systems, smart contracts, and the Internet of Things can greatly improve efficiency. Financial activities on the blockchain are programmable finance. .

(2) Digital Currency

From the perspectives of security and cost, it is a general trend that banknotes will be replaced by new technologies and new products. The establishment of digital currency issuance and circulation systems is very necessary for financial infrastructure construction and economic development. Following the idea of ​​integrating traditional currency and digital currency, the issuance, circulation and trading of digital currency should be led by the central bank, reflecting convenience and security, and achieving a balance between protecting privacy, maintaining social order, and combating illegal and criminal activities. It is conducive to the effective operation and transmission of monetary policy. It is necessary to retain the control of monetary sovereignty. Digital currency is freely convertible and controllable.

The success of blockchain technology on Bitcoin proves the feasibility of programmable digital currency. Research from the Bank of England suggests that central banks could consider issuing blockchain-based digital currencies, which could increase financial stability. The technical routes of digital currency can be divided into two types: account-based and non-account-based. They can also be used in layers to try to coexist. The characteristic of blockchain technology is distributed bookkeeping, which is not account-based and cannot be tampered with. If the digital currency focuses on protecting personal privacy, this technology can be used. However, the current blockchain occupies too many computing resources and storage resources and cannot cope with the current scale of transactions. This problem needs to be solved before it can be promoted and applied.

(3) Self-finance

From the perspective of services and non-monetary creation, modern finance is realized through intermediaries. In the Internet era, it is possible to achieve direct finance in the true sense of disintermediation. However, this possibility is not complete. The main reason is that the current Internet finance is based on the original finance and cannot be jumped out. Blockchain technology provides a possibility. Blockchain can be divided into public blockchain and private blockchain. Public blockchains are like Bitcoin. Once the agreement is approved, it becomes the blockchaincomponent. Private blockchains still need to be permissioned, and blockchain technology in banking systems requires auditing of each participant. Private blockchain is very similar to a form of self-finance, and public blockchain is more similar to the support and guarantee for the bottom layer of private blockchain. When blockchain technology is widely used and third-party financial management technology is generally available, self-financing based on blockchain technology will become completely possible.

3. Blockchain Application and Financial Supervision

Blockchain technology is currently the only tool that can be used to record and prove transaction consistency and company financial accuracy without the need for a third party. Therefore, it can meet the requirements of potential regulators and the public for audit effectiveness, accuracy and timeliness, and has broad application prospects in the financial field. However, its development is still restricted by the current system. On the one hand, blockchain has had an impact on the current system because its decentralized and autonomous characteristics dilute concepts such as the state and supervision. For example, digital currencies represented by Bitcoin challenge the country's right to issue currency and regulate monetary policy, causing monetary authorities to take a conservative attitude towards the development of digital currencies. On the other hand, regulatory authorities also lack full understanding and expectations of this new technology, and the establishment of laws and systems will be seriously delayed, resulting in the lack of necessary institutional norms and legal protection for blockchain applications, increasing the risks for market entities.

Once blockchain financial technology is widely deployed in the financial industry, the de-financial nature of supervision will occur, and supervisory functions, supervisory methods and supervisory means will be redefined. For example, if securities lending, repurchases, and margin trading can be traded through the blockchain, regulatory authorities can consider using the information from this public ledger to monitor systemic risks in the market, which is not only efficient but also reliable. From a macro-financial perspective, after the emergence of the financial era, the currency creation and transmission mechanism and the credit creation pattern will change. From a micro-finance perspective, with the further development of blockchain technology, finance and business have become difficult to distinguish, and will transcend the meaning of separate and mixed industry supervision. The reform of the financial supervision system needs to be discussed from this perspective.

The "decentralization" brought about by blockchain technology still requires centralized departments to provide regulatory and guarantee support. Regulators can proactively embrace new technologies in Internet finance. U.S. Securities and Exchange Commission member Kara Stein believes that regulators need to be in a leading position, taking advantage of the advantages of blockchain technology and quickly responding to its potential weaknesses. For example, blockchain technology hopes to break privileges and human manipulation and allow computer algorithms to achieve "free credit notarization." But in practice, due to the lack of supervision, digital currency transactions such as Bitcoin face high risks of speculation and money laundering. Therefore, the application of blockchain technology requires regulatory authorities to formulate relevant standards and specifications to ensure that financial innovative products are used appropriately. At the same time, it is necessary to improve the protection of consumer rights and interests, strengthen education on the protection of financial consumer rights and interests, and improve consumers' awareness of risk prevention.

VI What is blockchain technology and how it changes business and financeModel

What is blockchain technology and how does it change business and financial models? Joining the EU and NATO is just a cake-cake given by the West to satisfy hunger. In fact, at least in the current conflict between Russia and Ukraine, and before Russia and Ukraine fail to completely resolve the border issue, the dreams of the EU and NATO are just a dream for Ukraine! In Zhuang Ci's view, the positioning of basic subject research centers should be high enough and can be built on the basis of research institutes or universities with good foundations. The government should provide sufficient and stable support funds. An ideal operating model is to follow the example of Japan. "World's Top International Research Center (WPI)" program.

Ⅶ Blockchain Financial Application

Blockchain financial application is a key area where it plays a role in reality. The financial industry needs such high-end technology, and the traditional operating methods will be affected by Such technology has undergone profound changes. Blockchain financial applications have many distinctive features, and people are talking about them. It has attracted more and more attention because of its actual effects, and has had an increasing impact.

Abstract: Developed countries and technology companies have taken the lead in the research and application of blockchain technology. Judging from the application of patent technology, there may be a gap of about one and a half years between my country and the United States in blockchain technology. Based on the above situation, how can China achieve "asymmetric" catch-up? The first thing is to see the situation clearly, seize opportunities and meet challenges. Secondly, after understanding the necessity of the underlying construction of blockchain for the existing business and future development of the financial industry, a consensus was reached among various financial companies to establish a "China's Financial Blockchain Alliance". The last step is to advance collaboratively and embrace change.

How to understand blockchain?

Bitcoin: A peer-to-peer electronic cash system. In 2009, after the paper was published, Bitcoin was born as a virtual currency in the digital world of the Internet. At present, the total market value of Bitcoin is about US$6.5 billion. Although the market value is constantly changing, it is still the largest virtual currency in the world.

Another important concept is blockchain. Blockchain is an underlying technology of Bitcoin, and Bitcoin is just an application of blockchain. As we all know, Bitcoin can realize point-to-point value transfer. In addition to the Bitcoin blockchain, there are many other blockchains, such as the Ethereum blockchain, etc. Therefore, we should distinguish between concepts such as Bitcoin, Bitcoin blockchain, blockchain, and blockchain technology.

Currently, people have several misunderstandings about blockchain. Blockchain can be described in English as "Decentralized Blockchain", where Decentralized is translated as "decentralized". However, I think the blockchain has realized the unintermediary dissemination of value, which is point-to-point value dissemination. This does not mean that after entering the blockchain era, there is no need for a center, but that it should move from a single centralization to a center and a center. parallel development. So, the existingThe mind is likely to become a component center or a weak center. Currently, all banks have their own data centers. If a financial blockchain alliance is established in the future, they can become nodes in the blockchain alliance, so blockchain does not require a center.

Blockchain does not require credit

We often see some articles that believe that blockchain needs to “remove credit”. In fact, blockchain relies on consensus The algorithm builds trust and ensures the correctness of transactions through consensus among nodes. Build trust at low cost through mathematics and algorithms instead of "removing credit". However, digital asset transactions between people do not require two people to know each other or have a trust relationship with each other, nor does it require a third-party credit agency. It only requires everyone to trust the trusted network of the blockchain.

Why is it considered credible? Because it is a distributed database, it has a consensus-based mechanism: a set of encryption algorithms, making it immutable. On the one hand, the public key makes information transparent and traceable; on the other hand, the private key can protect privacy.

Blockchain is not a mature technology, nor is it omnipotent. Blockchain technology is still in its early stages of development. At the beginning of this year, we sent a delegation to Barclays South Africa’s blockchain research laboratory to study. During the seminar, Barclays African blockchain experts believed that it will take at least five to ten years for blockchain technology to become a truly mature technology. At present, blockchain has the disadvantages of relatively slow computing speed and small storage space. Moreover, not all data processing requires the use of blockchain.

Research and application of blockchain in foreign countries

We found that established financial developed countries are already leading the way in the research of blockchain technology. The British government believes that it is very important for the government to participate in the legislation of digital currencies and blockchain networks, and the government encourages in-depth research on blockchain technology. The British government is actively evaluating the potential of blockchain technology and considering its use to reduce financial fraud and reduce costs. In addition, the UK government plans to develop application systems that can be used between government and public agencies.

In February this year, the European Commission placed cryptocurrency at the top of the list of rapid development target areas. This initiative promoted policy research on digital currencies by various agencies. Technology companies are also leading the way in research on blockchain technology.

IBM launched the "Open Ledger Project" to develop an enterprise-level blockchain software structure and promote the commercial use of blockchain technology through the Bluemix and API foundation of the IBM cloud computing platform. Architecture to support the docking of external data. IBM still has a lot of practice in blockchain technology. Recently, it and a company in South Korea conducted creative experiments using blockchain technology and the Internet of Things, and achieved some results.

Microsoft uses the Azure platform to provide users with "area"Blockchain as a Service" can enable R3 and its bank members to speed up the experimentation and learning process, and accelerate the development, testing and deployment of distributed ledgers.

Intel has also released a SawtoothLake, an efficient modular platform for distributed ledgers; at the same time, Intel is also studying to create a trusted execution environment for hardware chips for blockchain applications to provide higher security and privacy.

At the same time , Wall Street is also taking active actions. Although it was founded relatively late, R3’s core function is to formulate industry standards for the development of blockchain technology in the banking industry, explore practical uses, and establish a blockchain alliance for banks.


Currently, blockchain technology already has practical application cases.

In Canada, the blockchain start-up company “Blockchain Tech Co., Ltd.” Ltd) has been successfully listed on the Toronto Stock Exchange GEM; the Estonian government will launch the government’s blockchain medical insurance records.

Domestic attention and research on blockchain technology

Blockchain is an optional technology. Previously, the People's Bank of China also held a digital currency seminar. In addition to the central bank, relevant departments such as Zhejiang Province and Beijing Municipality also expressed support for blockchain application research last year.

From an enterprise perspective, Bubi Blockchain has been used in equity, supply chain, points and other fields, and is conducting trials and application tests with exchanges and banks. Bubi Blockchain focuses on Focusing on the innovation of blockchain technology and products, it has owned a number of core technologies and developed its own blockchain service platform. And many blockchain innovation and entrepreneurial companies are emerging.

In addition, a A number of industry alliances are being established. In terms of financial institutions, the current cases of blockchain application by my country's large banks and financial institutions still need to be solved.
At the end of 2015, the Bank of America had obtained 15 patents on blockchain. my country There may be a gap of about one and a half years with U.S. blockchain technology.
Blockchain financial applications are entering a new stage in an all-round way. Various applications will become more and more in-depth, and related changes will become more and more popular. It attracts people's attention and will form a huge new trend.

Ⅷ Can literature be cited at the end of a blockchain paper?

It is very common to cite literature at the end of a paper. This approach can be adopted whether it is a blockchain paper or other types of papers. When citing literature, you need to pay attention to the following aspects:

Citation format: When citing literature at the end of the paper, Need to follow the citation format usedAll documentation will be formatted in a standardized format. Commonly used citation formats include APA, MLA, Chicago, etc., which need to be formatted according to the title, author, publisher and other elements.

Citation content: When citing documents, you should only cite materials related to the topic of the paper and avoid citing content that is irrelevant to the topic. In addition, the quoted content needs to be consistent with the text and content of the paper, maintaining the logical relationship and coherence of the paper.

Number of citations: When citing references at the end of your paper, you should not cite too many references. The number of cited documents should be appropriately controlled based on actual needs to avoid citing too many irrelevant documents.

When citing literature at the end of a blockchain paper, you can refer to some typical blockchain papers or books and include them in the reference list. This helps to end with a hook, leads to a new research direction, and can also provide a more sufficient theoretical basis for analyzing the theme of the paper.

The following are some recommended papers and books about blockchain:

Nick Szabo: "Blockchain Applications: How It Works and Important Areas", O' Reilly Media, 2017

Anton Anderson and Don Tapscott: "The Blockchain Revolution: How It's Transforming Trade, Finance, Companies, and Our Future", Publisher: Portfolio , 2016

Jordan Dokanoski and Biseta Narayanan: "Blockchain Identification and Interpretation: Techniques, Tools, and Applications (Identification and Resolution)", Manning Publications, 2018

A.B. Călin, A. Turcanu, F. Drăgănescu: "Blockchain - A Primer", Publisher: Universe, 2019

Zulip Bank Group Economic Research Team: "Blockchain: Diverse Applications for Creating Value", 2017.

These books and papers cover the application of blockchain technology in finance, trade, smart contracts, etc., as well as the essence and future development trends of blockchain technology. Reading these materials can help you gain an in-depth understanding of blockchain technology and its applications, master related technologies and concepts, and provide valuable reference materials for blockchain-related research and paper writing.

Ⅸ Permissioned blockchain is a key feature of the future of many financial applications

The theme of this issue is "Convergence Technology Leading to the Future" - Blockchain Technology, AI, and Big Data , privacy computing technology, can quickly fill in economic niche areas such as open finance, digital health, and reliable AI applications, thereby laying the foundation for the next round of economic upgrades.

Xiong Wei: Compared with public blockchain, permissioned blockchain is a more practical and useful permissioned data sharing system.The design method of sharing systems is a key feature or key factor in the future of many financial applications. In the discussion of the digital economy, although decentralization is an extremely important and useful feature, it may not be the most promising area in the future. I think the more pressing issue right now is data sharing. How to design data sharing systems so that data can be used by different participants, companies, and a wider range of people. This work is very important. I think the approach provided by permissioned blockchain or permissioned distributed ledger is more promising and more likely to enable a permissioned data sharing system to a large number of users.

Moderator: We know that the original purpose of the blockchain architecture was to implement Bitcoin. Bitcoin was born about 11 years ago and has financial functions. But now, Bitcoin is subject to controversy. Currently, blockchain financial applications include CBDC, JPM Coin, Libra and other applications. What are your views on the application of blockchain in the financial field? What are the potentials and challenges in theory and application?

Xiong Wei: Blockchain financial applications triggered by Bitcoin. Bitcoin has indeed triggered a wave of innovative designs in digital payment systems, digital currencies, various digital platform financing solutions and operating models. Let me talk about my main point first. I think that despite all the progress that industry experts are making in these very important areas, and despite the enthusiasm for these technologies, I think the model that has the most potential in the near future is not the Bitcoin model. I think some other improved model. It is more likely that more applications will be developed in finance and other related fields.

Among them, I would like to particularly emphasize the permissioned blockchain. Compared with public blockchains, permissioned blockchains are a more practical and useful way to design permissioned data sharing systems and are a key feature or key factor in the future of many financial applications. You've mentioned various emerging financial applications of blockchain, such as Facebook's Libra, JP Morgan's JPM Coin, and we're also seeing a new encryption platform. In fact, thousands of crypto points and tokens have been listed in recent years. These are all related to the Bitcoin craze.

In particular, Bitcoin’s features such as decentralization and immutability are very popular. People are excited about these features, which have led to the tokenization of many new platforms and digital payment system designs. However, many problems also arise in practical applications. Markus neatly summarizes these problems as the "trilemma". Bitcoin should be designed to face this fundamental issue of scalability, security, and decentralization. These are three issues, and there is a certain internal conflict between them. I don't think we've found a solution to this trilemma yet. This problem has not yet been solved, so the design faces many problems before it is put into widespread use.

I saw a recent speech by Zhou Xiaochuan, former governor of the People's Bank of China, about the work the People's Bank of China has done in designing a digital currency. The People's Bank of China is calledThe world's most advanced central bank is considering issuing digital currency in the future. Zhou Xiaochuan believes that precisely because of the reasons we mentioned, the People’s Bank of China’s digital currency is unlikely to be built on a public blockchain. He also expressed concerns about these issues. Decentralization means a lot of computation is required, which can lead to a lot of waste, as Markus mentioned. This also leads to the issue of speed. For a currency to be widely used in large countries, speed is the key.

He also mentioned that immutability may not be achievable in practical situations. People make mistakes. Think about the "fat finger" problem in financial markets, which has occurred many times in China. When these problems occur, there is a real need for someone with the ability to correct transactional information errors when they occur. But the current decentralized blockchain will make correcting errors, even simple ones, extremely costly. To highlight one of my personal research efforts, I recently co-authored a paper with Michael Sockin on cryptocurrency models. The paper highlights another potential problem posed by decentralization, which means that there are no shareholders or “owners” in the ownership of digital platforms.

Having no owners means no one will contribute money for the public good. We know that digital platforms rely on large networks to thrive and therefore need to attract large numbers of users to payment systems or use digital platforms. To achieve a large network, someone needs to fund it to encourage participation. Without owners, there is no one to fund these public benefits. This could lead to another potential conflict in the practical application of digital platforms and payment systems, hampering their future development. We particularly emphasize that the decentralization of “token-based schemes” brings this trade-off.

Through decentralization, token-based platforms can promise not to harm users under any circumstances. We know that for equity-based profit-seeking platforms held by shareholders, if they are not managed well and profits are not good, the platform may take drastic measures, such as aggressive advertising strategies, sales strategies, and even selling user data to third parties. These situations have happened many times. We've seen these situations. Decentralization removes shareholders and therefore removes the incentive for platforms to exploit users. All users jointly control this tokenized platform, and users will not compromise their rights. This is the advantage of a tokenized platform.

The disadvantage is the public interest issue I mentioned. A platform or payment system needs to build a large user base in order to grow. Decentralized users face this huge problem, that is, no one is willing to contribute to public interests and invest in attracting users to maximize network effects. This concern about misuse of user information is particularly strong for platforms with relatively weak profitability. Our analysis will show that tokenization is actually more attractive for platforms with weaker foundations. This is generally not what avid fans of Bitcoin or other crypto tokens would say. But I think that may be the case.

In addition, I want to be strongAdjusting the difference between stock prices and token prices, token prices tend to be very volatile. We have seen that there are thousands of tokens or cryptocurrencies being traded around the world, many of which are extremely unstable. We often attribute this high volatility to some kind of wild speculation or some kind of price bubble, but there is an important conceptual difference between the two. The stock price is driven by the profit that the stock platform earns from the average user. For large networks, some users are heavy users and some users are lighter users. The profit is driven by the average user, which will ultimately determine the stock price.

But for tokenized platforms, token prices are determined by marginal users who don’t care whether they use the tokens or not. In this sense, token prices are driven by marginal users, not average users. Under the network effect, we know that there is actually a big difference between average users and marginal users. Marginal users are very sensitive. When circumstances change, they can easily quit. For this reason, token prices are very volatile, more so than typical stock prices. I think this is an important question worth discussing and thinking about. These digital tokens or crypto tokens are traded around the world.

I talked about conceptual issues related to tokenization and decentralization. For the above reasons, I would like to emphasize that although decentralization is an extremely important and useful feature in the discussion of the digital economy, it may not be the most promising area in the future. I think the more pressing issue right now is data sharing. How to design data sharing systems so that data can be used by different participants, companies, and a wider range of people. This work is very important. I think the approach provided by permissioned blockchain or permissioned distributed ledger is more promising and more likely to enable a permissioned data sharing system to a large number of users.

The system can be a data sharing system with specific permissions, setting permissions on licensed objects and access content, thereby ensuring the distribution of data within the system and informed transactions. The contract is based on a permission-based data sharing system. .