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Ⅰ How to prevent illegal fund-raising in the name of "blockchain"

Tips from the China Banking and Insurance Regulatory Commission, the Central Internet Information Office, the Ministry of Public Security, the People's Bank of China, and the State Administration for Market Regulation:

2. Strong deception, temptation and concealment. They use hot concepts to create hype and fabricate numerous "high-level" theories. Some even use celebrity V's "platform" propaganda, and use airdrops of "candy" as temptations, claiming that "currency values ​​only rise but not fall" and "the investment cycle is short. "High returns, low risks", which is highly deceptive. In actual operations, criminals illegally make huge profits by manipulating the price trend of so-called virtual currencies behind the scenes and setting profit and withdrawal thresholds. In addition, some criminals also issue tokens in innovative forms such as ICO, IFO, and IEO, or conduct virtual currency speculation in the form of IMO under the banner of the sharing economy, which is highly concealed and deceptive.

3. There are various illegal risks. Through publicity, criminals use "static returns" (profits from currency appreciation) and "dynamic returns" (profits from offline development) as bait to attract the public to invest funds, and induce investors and development personnel to join in, constantly expanding the capital pool. , with characteristics of illegal fund-raising, pyramid schemes, fraud and other illegal activities.

Such activities use "financial innovation" as a gimmick, but are essentially a Ponzi scheme of "borrowing new and repaying old", making it difficult to maintain long-term capital operations. The general public is requested to view the blockchain rationally, do not blindly believe in promises made by the public, establish correct currency concepts and investment concepts, and effectively improve risk awareness; they can actively report to relevant departments any clues about illegal crimes discovered.

Source: China Banking and Insurance Regulatory Commission

II Why the Municipal Supervision Bureau and other departments promote the application of electronic seals to improve business start-up service levels

2021 , the State Administration for Market Regulation will continue to pilot and promote the joint issuance and application of electronic business licenses and electronic seals to provide market entities with more convenient online services.
As an important tool for digitizing business start-up services, electronic seals can not only effectively help companies simplify the start-up process and further achieve "simplifying links, reducing time, and reducing costs", but also help create a more efficient and convenient business operation. business environment. In terms of vigorously promoting the electronicization of business start-up factors, the notice issued by the Municipal Supervision Bureau and other departments proposes: to continuously expand the scope of pilot projects for the simultaneous issuance and application of electronic business licenses and electronic seals to provide enterprises with full-process online service support; continue to promote electronic invoices and For the application of electronic seals, all localities are encouraged to improve and promote electronic seal standards and application scenarios.
In terms of improving the efficiency of the "one-stop service" platform, it is proposed that the first time after the enterprise registration is to engrave the official seal, apply for invoices and tax control equipment, employee insurance registration, housing provident fund enterprise deposit registration, etc. The business is included in the coverage of the "one-stop service" platform for enterprise establishment. The public security, taxation, social security, and housing provident fund management departments must handle business related to business establishment on the "one-stop service" platform.
As a professional domestic blockchain electronic signing platform owned by Yibaoquan, Junzizhuan innovates the "blockchain + judicial + electronic signing" model. By deeply integrating mature and reliable electronic signing technology with blockchain technology, it can cooperate with various industries. The integration of quasi-government management systems provides strong technical support for cross-regional, cross-department and cross-level data exchange and information sharing of the government, and provides "identity authentication, electronic signatures, seal control, blockchain certificate storage, and full evidence chain preservation." , judicial services" and other one-stop electronic contracting services. Accelerate the "full online processing" of government certificates, licenses, and service matters to improve the level of government digital services.

Ⅲ How long does it take for 12 exchange network confirmations?

A blockchain takes 18 seconds, and 12 confirmations only takes 216 seconds. It can be completed in less than four minutes. . An exchange is an information platform for trading certain information and items. The fixed location required is called an exchange. The exchange, with the help of the information platform, realizes the sharing of property rights information, off-site transactions, unified coordination, and balances the property rights trading market and various terms.
Extended information:
1. The Shanghai Stock Exchange (Shanghai Stock Exchange) is one of the two stock exchanges in mainland China and is located in Pudong New Area, Shanghai. The Shanghai Stock Exchange was founded on November 26, 1990, and officially opened on December 19 of the same year. As of the end of 2009, the Shanghai Stock Exchange had 870 listed companies, 1,351 listed securities, and a total stock market value of 18,465.523 billion yuan. A large number of pillar enterprises of the national economy, key enterprises, basic industry enterprises and high-tech enterprises have not only raised development funds but also transformed their operating mechanisms through listing.
2. The trading hours of the Shanghai Stock Exchange are from Monday to Friday every week. The morning is the premarket, 9:15 to 9:25 is the collective bidding time, and 9:30 to 11:30 is the continuous bidding time. The afternoon is the market outlook, and 13:00 to 15:00 is the continuous bidding time. The market is closed on Saturdays, Sundays and holidays announced by the Shanghai Stock Exchange. The Shanghai Stock Exchange is a not-for-profit legal person and is directly managed by the China Securities Regulatory Commission. Its main functions include: providing venues and facilities for securities trading; formulating business rules for stock exchanges; accepting listing applications and arranging securities listings; organizing and supervising securities transactions; supervising members and listed companies; managing and publishing market information. Market transactions on the Shanghai Stock Exchange adopt the electronic bidding transaction method. All purchases and sales of listed securities must be submitted for public declaration and bidding through a computer host, and the host will automatically match the transaction in accordance with the principles of price priority and time priority. In November 2009, after the Shanghai Stock Exchange upgraded its new generation trading system, the peak order processing capacity reached 80,000 transactions per second, and the system's daily bilateral transaction capacity was no less than 120 million transactions, equivalent to the daily transaction scale of 1.2 trillion yuan in a single market. [2]

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

Blockchain technologyIt 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 What is blockchain and what is its use? Will it become a new trend?

Three questions about blockchain (economic hot spots)

In recent times, news about Bitcoin has been very eye-catching, and blockchain has also become popular. In the capital market, the stock prices of various blockchain concept stocks rise and fall like a thrilling roller coaster. It can be seen from the responsive capital market that blockchain is on the forefront and has received great attention from all parties.

"Blockchain technology is essentially a database technology, specifically a ledger technology. The ledger records the asset changes and transactions of one or more accounts. In fact, it is A database with the simplest structure. We usually write down the running accounts in small notebooks and send them from the bank.The statements are all typical ledgers. "Wang Jun, chief researcher of Tencent Financial Technology Think Tank, said that security is a major feature of blockchain technology, which is mainly reflected in two aspects: first, the distributed storage architecture, the more nodes, the higher the security of data storage; second, Its tamper-proof and decentralized ingenious design makes it difficult for anyone to modify data without following the rules.

Take online shopping transactions as an example. The traditional model is for buyers to purchase goods and then transfer the money to a third party. The payment institution is an intermediary platform. After the seller delivers the goods and the buyer confirms receipt, the buyer notifies the payment institution to transfer the money to the seller's account. The transaction model supported by blockchain technology is different. Buyers and sellers can trade directly. There is no need to go through any intermediary platform. After the buyer and seller trade, the system publishes the transaction information in the form of broadcast. All hosts that receive the information record the transaction after confirming that the information is correct, which is equivalent to all hosts having made data for this transaction. Backup. Even if there is a problem with a certain machine in the future, it will not affect the data record, because there are countless machines as backup.

When it comes to blockchain, many people associate it with Bitcoin. At the same time, many people even equate blockchain with Bitcoin. He Fei said that Bitcoin is a representation of blockchain, but blockchain is not the same as Bitcoin. Blockchain is the underlying layer of Bitcoin. Technology and infrastructure, and Bitcoin is a successful application of blockchain, but it does not mean that blockchain can only be applied to Bitcoin.

What is the use of blockchain?

It can solve the pain points and difficulties in many fields such as finance, public welfare, supervision, and anti-counterfeiting, but there are many applicable conditions

Financial services are the first application field of blockchain technology. Using blockchain Technology can solve pain points in many fields such as payment, asset management, and securities.

Take the payment field as an example. The cost of reconciliation, clearing, and settlement between financial institutions, especially cross-border financial institutions, is relatively high. , involving many manual processes, not only results in high costs for the user end and the backend business end of financial institutions, but also makes it difficult to carry out small payment business. The application of blockchain technology can help reduce reconciliation costs and disputes between financial institutions solve the cost and significantly improve the processing efficiency of payment business. In addition, the cost and efficiency advantages brought by blockchain technology to the payment field enable financial institutions to better handle small-amount transactions that were previously considered unrealistic due to high costs. Cross-border payments help achieve inclusive finance.

For example, in order to solve the problem of high reconciliation costs among financial institutions, in August 2016, WeBank and Shanghai Huarui Bank launched Weilidai This is also the first domestic banking alliance chain application scenario running in a production environment. Kaixiang Zhang, chief architect of WeBank’s blockchain, believes that the traditional “batch file reconciliation” model has long been unable to solve the cost High-level problems are exactly where blockchain technology comes in. Subsequently, Luoyang Bank and Changsha Bank also successively connected to the inter-institution reconciliation platform. Through blockchain technology, they optimized the inter-institution reconciliation process in the micro-loan business and realized Provide accurate real-time reconciliation, improve operational efficiency, and reduce operational costscost objectives. Up to now, the platform has been running stably for more than a year, maintaining zero failures, and the number of real transactions recorded has reached tens of millions.

In the field of public welfare, blockchain technology also has great potential. Ant Financial's first application scenario involving blockchain was public welfare, helping a group of hearing-impaired children obtain a donation, and then using blockchain technology to promote public welfare to be more open and transparent. Hu Danqing, senior product expert at Ant Financial Technology Lab, said: "The blockchain charity platform is like us building a post office on the Internet specifically for mailing funds. Every money donated by users, we will package it into a The package is delivered through the blockchain platform. Every time it passes through a node, we will stamp a postmark and finally deliver it to the recipient. This ensures that every money donated by users is transparent, traceable, and difficult to tamper with. ”

Blockchain technology can play a big role in combating counterfeit goods. Hu Danqing introduced that Ant Financial uses blockchain technology to trace the origin of authentic products. At present, there are some overseas shopping products from Australia and New Zealand, such as milk powder. You can use Alipay to scan the products to know whether they are genuine. "Unlike the previous self-entered product information by merchants, blockchain allows multiple 'bookkeepers' to complete accounting fairly, independently, and non-repudiation."

For financial supervision, blockchain Technology can also play a role. The "Financial Blockchain Underlying Platform FISCO BCOS White Paper" released by the Financial Blockchain Cooperation Alliance (Shenzhen) in 2017 believes that blockchain provides financial regulatory agencies with consistent and easy-to-audit data. Data analysis can supervise financial businesses faster and more accurately than traditional audit processes. For example, in an anti-money laundering scenario, the balance and transaction records of each account are traceable, and no aspect of any transaction will be out of sight of supervision, which will greatly enhance anti-money laundering efforts.

Some people in the industry believe that blockchain 1.0 is mainly aimed at digital currency; blockchain 2.0 is aimed at smart contracts and can be applied in the financial market; blockchain 3.0 will be applicable to more scenarios, and even Create a "blockchain era".

He Fei believes that blockchain can indeed solve the pain points and difficulties in many fields, but blockchain is not a panacea and has many applicable conditions.

For example, the decentralized nature of blockchain technology is suitable for scenarios involving multi-party participation. If it is only unilateral or bilateral participation, it will be of little value. Since each node needs to be checked, blockchain technology is not suitable for high-frequency trading activities.

For another example, blockchain emphasizes openness and transparency and is not suitable for scenarios with particularly high data privacy requirements.

Will blockchain become a new trend?

The technology is not yet mature, so we must be wary of concept hype, and we must distinguish between technological innovation and fund-raising innovation. We cannot use blockchain for the sake of blockchain

The concept of blockchain is so Will Fire become another “Internet+” in the future?

In recent years, the development ecology of blockchain has gradually improved.Goodness and abundance. Industry insiders believe that with national policy support, widespread attention and financial support, blockchain technology can achieve gradual and stable progress. Although the upside prospects of blockchain technology are broad, we must remain calm about this.

“Although blockchain is very popular right now, we still believe that it is still in a very early stage.” Hu Danqing said that there is currently false enthusiasm in the blockchain concept, and it is not that the technology is used to solve the problem. The real problem is that the focus is on raising funds to make money and hyping valuations. In particular, most of the so-called ICOs (Initial Coin Offerings) that are so popular are innovations in fundraising tools and have nothing to do with technological innovation.

Blockchain technology can indeed create great value, but some risks cannot be ignored.

“Blockchain technology is not yet mature, and its application scenarios are relatively limited. We should be more wary of the concept of capital market speculation.” He Fei said that behind the blockchain boom, there will inevitably be some gimmicks and speculation. Companies that do not really carry out business, but just try to make a profit in the capital market and leave. We must be careful to prevent the occurrence of "bad money driving out good money", causing institutions that really want to do business to withdraw from the market, affecting the development of blockchain technology. application.

Hu Danqing suggested that for the current blockchain craze, regulatory authorities should intervene more proactively, distinguish between technological innovation and fund-raising innovation, and encourage government organizations, credible experts, and industry participants to jointly help the public Identify and comprehensively curb fund-raising innovation in the name of blockchain, so that the actual controller of ICO must bear responsibility for the fund-raising behavior. "The basis for judging whether it is technological innovation or fund-raising innovation is actually very clear, that is, whether it starts with trust and whether it creates actual value by solving the trust problem."

Better promotion and use of blockchain technology in the future , it is necessary to continue to improve infrastructure and strengthen the formulation of relevant laws and policies.

Wang Jun believes that there is still room for optimization and improvement in core blockchain technologies such as consensus algorithms; on the other hand, the processing efficiency of blockchain is still difficult to reach that of some high-frequency application environments in reality. Require. At present, the mainstream blockchain technology platforms all originated from abroad. Domestic blockchain technology service providers must patiently start from the bottom development, achieve independent and controllable technology, and strive to lead the development of global blockchain technology. Enterprises with blockchain application scenarios must actively embrace new things and scientifically evaluate their on-chain needs. They cannot use blockchain for the sake of blockchain.

He Fei believes that the government can introduce relevant policies to guide companies that are interested in participating in the research and development and application of blockchain technology, and at the same time clarify some suitable application scenarios of blockchain and areas encouraged by the state.

The "China Blockchain Technology and Application Development White Paper 2016" recommends that government departments at all levels learn from the advanced practices of developed countries and regions, combine the development of my country's blockchain technology and applications, and promptly introduce blockchain Technology and industrial development support policies focus on supporting key technology research, major demonstration projects, "mass entrepreneurship and innovation" platform construction, system solution research and development, and public service platform construction. At the same time, it is recommended that key domestic enterprises, scientific research, universities and user units strengthen cooperation, accelerating research on core key technologies such as consensus mechanisms, programmable contracts, distributed storage, and digital signatures.

If it can bring money to the enterprise, it will become a hot topic.

VI What are the characteristics of decentralization in blockchain technology

The characteristics of decentralization in blockchain technology are decentralization, trustlessness, and collective maintenance.

1. Decentralization: There is no centralized hardware or management organization in the entire network. The rights and obligations between any nodes are equal, and the damage or loss of any node will not affect the entire system. operation. Therefore, the blockchain system can also be considered to have excellent robustness.

2. De-trust: There is no need to trust each other for data exchange between each node participating in the entire system. The operating rules of the entire system are open and transparent, and all data contents are also public, so Within the rule range and time range specified by the system, nodes cannot and cannot deceive other nodes.

3. Collective maintenance: The data blocks in the system are jointly maintained by all nodes with maintenance functions in the entire system, and anyone can participate in these nodes with maintenance functions.

(6) Pudong Market Supervision Blockchain Extended Reading

Blockchain technology has never excluded supervision, and supervision nodes can be easily connected to any A blockchain network. Due to the open and transparent nature of the blockchain, regulatory agencies can more easily monitor the transaction data of the entire system, and due to the tamper-proof nature of the blockchain.

Once a transaction occurs, it cannot be changed or deleted. It is impossible for data fraud to deceive supervision, which is more conducive to regulatory agencies' supervision of market behavior. It can be seen that blockchain will become an important tool for regulatory technology (RegTech).

Reference source: Network-Blockchain