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1. What are the future development prospects of blockchain technology?

Blockchain is a technology. “In the simplest and most popular terms, blockchain technology is Everyone keeps accounts, or distributed ledgers."
In the Internet era, there is a database behind every system. This database can be regarded as a large ledger. In the past, the people who maintained the system were responsible for managing the database and recording User behavior is accounting, and the blockchain is "decentralized", which allows every member of the system to participate. Not only does everyone keep accounts, but through links, everyone can have a complete ledger.
"Blockchain is essentially a collective recording method. What is special is that it uses a unique set of technologies to achieve the authenticity and credibility of the recording results, which is difficult to destroy and cannot be tampered with." Zhang Xiaorong said, " First, everyone has the right to record and authenticate each other to distinguish authenticity. This is called a consensus mechanism; second, no one can tamper with records because there is a cryptographic signature; third, everyone has a copy, so even if there is a ledger If it is damaged, the whole will not be affected. This is called distributed storage. The information recorded in this way is presented in blocks according to the time chain, so it is called blockchain."
Each currency represented by Bitcoin This encrypted digital currency is originally an application of blockchain technology, which can be said to be version 1.0 of blockchain. But around 2014, the industry began to realize the important value of blockchain technology. Blockchain was gradually separated from digital currency and applied to various economic and social fields other than digital currency.
Broad application prospects
Blockchain technology is considered a disruptive innovation after steam engines, electricity, and the Internet. If steam engines and electricity have liberated productivity, and the Internet has changed the way information is transmitted, then blockchain, as a machine that builds trust, will likely change the way value is transmitted.
For example, in the financial field, the cost of reconciliation, clearing, and settlement between financial institutions, especially cross-border financial institutions, has always been very high, and there are complex manual processes. However, blockchain technology has data that cannot be tampered with and is traceable. Its application can help reduce the cost of reconciliation and dispute resolution between financial institutions, significantly improve the processing speed and efficiency of payment services, and make small-amount cross-border payments possible. In December 2017, China Merchants Bank completed the transfer of RMB positions from Hong Kong Wing Lung Bank to Wing Lung Bank Shenzhen Branch. This is the world’s first inter-bank cross-border RMB clearing business based on blockchain technology.
In addition, according to the "China Blockchain Technology and Application Development White Paper 2016" issued by the Ministry of Industry and Information Technology of China, the application of blockchain has extended to many fields such as medical health, education, charity, and social management. . Taking the cultural industry as an example, intellectual property protection has always been a pain point in the industry due to low copying costs, high rights protection costs, and difficulty in providing evidence. With the blockchain, the records of the production, dissemination, and transactions of cultural products are authentic, transparent, credible, and verifiable, and the problem can be easily solved.
Cheung Hsiao-rong said that blockchain technology solves two major problems in the digital economy era.Problems: First, the flow direction is visible, and second, there is zero trust cost. In the past, the circulation of physical banknotes was invisible, but the flow of all digital assets has a "chain" that can be checked. Yang Yanchao, a researcher at the Intellectual Property Center of the Chinese Academy of Social Sciences, also believes that the biggest advantage of blockchain is that it truly completes the construction of credit in an anonymous society and brings new opportunities to many fields, thus making various innovative applications possible.
There is a long way to go for future development
In terms of technology promotion, there are not too many barriers to blockchain. This has been proven in the global practice of Bitcoin. The main resistance still comes from conceptual and implementation obstacles.
"On the one hand, society may be very concerned about the 'naked' state in the blockchain. The blockchain builds a 'Skynet' for the business society, and all the company's economic activities are recorded, so there is no There is no secret at all, and such business strategies may not be implemented under the blockchain."
"On the other hand, the current legal system lags behind the development of information technology. How can the emerging blockchain technology be placed under the law? It needs to be studied under supervision." Duan Yongchao said.
The core of blockchain is decentralization, which will have an impact on the central management model that has been formed in society for a long time. In addition to laws, how to establish a regulatory environment that can promote the application of blockchain technology so that the technology can benefit society and not be used for evil is also an urgent problem to be solved.

2. Qiante Mall: www.qiante.shop Does anyone have an Apple version of the Qiante Mall URL?

Can anyone please add me to the Qiante Consumer Mall Group? , thank you

3. Blockchain Mall

Chengxiang Technology builds an e-commerce ecosystem based on blockchain technology and builds a decentralized business ecosystem. By connecting the value of digital assets and physical business, we can perfectly combine powerful offline experiential services with efficient blockchain Internet finance to provide users and merchants with more efficient and valuable smart services and realize commercial services. blockchain transformation.

Characteristics of the blockchain mall: The mall combines the decentralized, trustworthy, and non-tamperable characteristics of the blockchain to solve many problems of the traditional e-commerce model, in terms of payment, incentives, transactions, marketing, etc. In this aspect, it greatly enhances the commercial value of the e-commerce model.

Digital asset payment: conduct commodity transactions through all or part of digital assets, create digital asset value standards and offline usage scenarios, and solve the financial settlement, cross-border commerce, and information flow of major e-commerce companies. Problems

Blockchain candy incentives: Use blockchain candy to incentivize users’ promotion and purchase behaviors. Through value shaping, the incentives are made more attractive and stimulate users’ enthusiasm for independent promotion

User data marketing: Collect user consumption data on the mall, and encrypt and store the data through the blockchain. Users can freely choose to open their personal dataRelease, authorize and trade and share value from it, truly returning data ownership to the public

Blockchain mall application scenarios

Shopping consumption rebates: users make purchases in the mall Digital assets can be returned to stimulate users to spend more

Digital asset payment: Users can use digital assets to deduct all or part of the amount when consuming in the mall, thus realizing the extension of offline consumption scenarios of digital assets

User invitation rewards: Users can receive digital asset rewards after inviting others to register, which can encourage users to independently develop other users

User data marketing: record users’ consumption and browsing data Go to the blockchain and cooperate with data marketing agencies. Users who use the data can also be rewarded with digital assets

Product reviews are trustworthy: record users’ product review data to the blockchain to achieve product review data that cannot be tampered with and is authentic and credible

Smart contract guaranteed transactions: guaranteed transactions through the trustworthiness of smart contracts

Merchant integrity system: merchant-owned Transaction information, comments, and after-sales information are all recorded on the blockchain. The information is authentic and credible, improving the integrity of merchants

4. A brief discussion of several major applications of blockchain and which ones are pitfalls

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What can blockchain do? Blockchain, a great technology that accompanied the birth of Bitcoin, is currently being used in the financial field to significantly reduce transaction costs and improve efficiency, which is enough to excite Wall Street. However, this is just the tip of the iceberg. Its potential applications are very broad and will subvert every aspect of our lives in the future.

The Internet is an information network, with 0s and 1s flowing in it. Blockchain is a value network, and its role is to transmit value, unlike the Internet for data transmission.

Speaking of value transfer, there is a very simple scenario, such as payment, I have 100 yuan in hand, and I want to transfer it to the group. I can use WeChat red envelopes or WeChat transfers. Here During the transaction process, a third party is required to participate, and the transmission method of the blockchain is point-to-point transmission, which does not require any intermediate node. This is a very big difference between the blockchain and our existing architecture.

When it comes to peer-to-peer payments, many people will think of Bitcoin, because most people know blockchain from Bitcoin. What is the difference between blockchain and Bitcoin?

Blockchain is the technology behind Bitcoin; blockchain is a basic technical architecture that designs and implements an autonomous system with multi-party participation through a specific data structure and consensus algorithm.

The specific data structure is actually the name blockchain itself, that is, its data is placed in data areas one by one.Inside the block, this data block is then connected and implemented using a chain. "Consensus algorithm" is a very important concept in blockchain. Without synchronic algorithm, there would be no meaning of blockchain.

Introduction to Bubi Blockchain

Bubi Blockchain has been focusing on the R&D and innovation of blockchain technology and products since its establishment, and has a number of core technologies. It has made substantial innovations in many aspects and formed a number of core technical achievements, such as: mathematically provable distributed consensus technology, fast large-scale ledger access technology, multi-chain general ledger technology that supports business expansion, and heterogeneous ledger technology. Construct interconnection technology between blockchains, etc. On April 25, "Gege Points" introduced the concept of blockchain into the points system, jointly opened it up with multiple parties, issued and redeemed points, and promoted the circulation of points. Each cooperative institution can jointly participate in transaction verification, ledger storage, and real-time settlement; the third-party payment platform of the enterprise points issuer makes the entry and exit of points more flexible. Bubi has developed its own basic blockchain service platform, which has been applied in equity, supply chain, points, credit and other fields. Bubi has been committed to building an open value circulation network with decentralized trust as the core, allowing digital assets to flow freely.

Having said that, let’s analyze the difference between blockchain and Bitcoin?

1. Essential difference. For the world, Bitcoin is a digital currency based on cryptography, while blockchain, as we just said, is a value transfer protocol. There is an essential difference between the two, because one is a digital currency. , one is a value transfer protocol.

2. Algorithm. Bitcoin's consensus algorithm is based on a working algorithm called proof of work, POW. There are many different consensus algorithms in the blockchain. It can use either the Bitcoin POW algorithm, the POS algorithm, or the DPS algorithm.

3. Transaction speed. Bitcoin is limited to a maximum of seven transactions per second. Please note that what is mentioned here is the maximum and not the average, because this is a very strict definition. For the blockchain, the number of transactions per second can actually reach tens of thousands or more, so this is also One major difference between blockchain and Bitcoin. Because many people will be confused and say that the transaction speed of the blockchain is seven transactions per second. This is wrong. This is a limitation of Bitcoin. The blockchain can reach very high speeds based on its different consensus algorithms and linking methods. Transaction speed.

4. Link form. Bitcoin is a blockchain based on the Internet, which means we call it a public chain. The blockchain can be in the form of a public chain, a private chain, or a consortium chain.

5. Limitations. It is recommended that everyone not touch some digital currencies related to blockchain. What's the reason? Bitcoin is a digital currency. Although it has very good and different characteristics, it does not meet the requirements of gold.Financial supervision means that these 21 million Bitcoins were issued without state authorization and without state credit as a multiple. The blockchain also has some limitations. Although it is just a protocol and a technology, it is still a new technology in its infancy.

To summarize, blockchain is a relatively low-level protocol and a technical infrastructure, on which there are various consensus algorithms. If the blockchain is 1, the consensus algorithm may be 10 to 20, but the applications based on it may be one thousand or two thousand, or more. In other words, Bitcoin is only one of many blockchain applications. A realization. Therefore, Bitcoin and blockchain cannot be equated. Bitcoin is only a very elementary implementation of blockchain.

What can blockchain do? Blockchain problem? In the bill market, digital bills based on blockchain technology can become a safer, smarter, and more convenient bill form. Point-to-point transactions realized with the help of blockchain can break the existing functions of bill intermediaries and realize the disintermediation of bill value transfer; the construction and data storage of digital bill systems do not require a central server, eliminating the need for the development of central applications and access systems. costs, reducing the maintenance and optimization costs of the system under the traditional model, and reducing the risks caused by system centralization; based on the non-tamperability of information on the blockchain, once the transaction is completed, there will be no default, thereby avoiding "one Behaviors such as "selling too many tickets" and out-of-synchronization of payment and endorsement effectively prevent risks in the bill market. The securities trading market is also an area where blockchain technology has great potential. The current traditional securities trading model has the shortcomings of long transaction processes, low transaction efficiency, and high comprehensive costs. In addition, there are strong intermediaries and regulatory agencies, and the rights of financial consumers are often not protected. Applying blockchain technology, buyers and sellers can be directly matched through smart contracts, and the efficiency of transaction execution can be greatly improved. Settlement and delivery can be automatically realized through a distributed digital registration system. Since the data entered into the block is irrevocable and can be copied to each data block within a short period of time, the information entered into the blockchain actually has a publicity effect, so the occurrence of the transaction and the confirmation of ownership will not occur. dispute.

What can blockchain do? Blockchain problem? Although there is no mature underlying blockchain technology platform solution currently, technical problems such as capacity scalability, privacy protection, inability to settle on a net basis, and non-recourse after the fact also need to be solved, and large-scale application of blockchain Technology also requires redesigning IT architecture and reengineering business processes, but these are only technical issues. The real test of blockchain technology taking root and growing in the financial field is the ontology of regulatory agencies and financial institutions. Will the inherent "deregulation" and "decentralization" characteristics of blockchain make market entities have no motivation to drive technology? Innovation. However, since blockchain is a technology based on mathematical algorithms, the establishment of trust relationships between transaction parties does not require the use of intermediaries or authoritative centers to establish trust relationships.The cost is almost zero (on the premise of the establishment of blockchain financial infrastructure and ancillary infrastructure), and the blockchain code is open source and open, with no geographical restrictions, and the network pattern is distributed and interconnected, providing a basis for the establishment of future inclusive finance and shared finance. and development has laid a technological foundation and created material conditions for global financial integration and unification. From this point of view alone, blockchain technology will surely establish a core position in future financial development, and it will rely on and complement each other to win the future.

5. What are the fields involved in blockchain applications, and what are the specific scenarios?

Blockchain technology is widely used, and with the integration of new technologies, the main Application scenarios cover many fields such as finance and insurance, smart manufacturing, smart environmental protection, energy and electricity, medical and health care, education, cultural and creative industries, smart cities, social welfare, agriculture, etc.

Blockchain + Finance

Blockchain can help financial institutions solve problems such as trust and data sharing.

Blockchain + Copyright Art Category

Tianhe Guoyun’s Blockchain Copyright System

3. Blockchain + Government Affairs

In terms of statistics, voting, budget management, etc., blockchain can reduce costs, improve efficiency, and increase transparency to prevent the risk of failure of centralized systems.

4. Blockchain + Insurance

Fraud identification and risk prevention: By placing insurance claims under an immutable general ledger, blockchain can help eliminate confusion in the insurance industry. Common sources of fraud.

Property insurance and casualty insurance: Policies and shared ledgers recorded in the form of smart contracts can improve the efficiency of property insurance and casualty insurance.

Health insurance: Blockchain technology allows medical records to be encrypted and shared among health service providers, thereby improving the interoperability of the health insurance ecosystem.

Reinsurance: The information security of reinsurance contracts on the blockchain platform is guaranteed through smart contracts, which can reduce the amount of information and simplify the payment process between insurers and reinsurers.

6. Ten major artificial intelligence data, ten listed companies in the Yuanverse and ten Baidu

Main listed companies in the Metaverse industry: At present, the listed companies related to the domestic Metaverse industry include Tencent, Internet, Zhongqingbao, Silk Road Vision, etc. The core data of this article: Summary of policies related to China's Metaverse industry, the number of trademark applications for China's Metaverse, the development history of China's Metaverse, and the layout of representative enterprises in China's Metaverse industry. Facebook and Microsoft both expressed their focus on the Metaverse field and will rank first in the Metaverse in 2021. Since the shares were listed on the New York Stock Exchange, the layout of major companies in the metaverse field has appeared in the technology circle and the public eye. In July 2021, Facebook announced its entry into the Metaverse. On October 28, 2021, Facebook founder Zuckerberg stated that he would change Facebook’s company name to Meta and downgrade Facebook’s service of the same name to one of the company’s subsidiaries, along with Instagram.Tied to WhatsApp, rather than the overall brand. Then in November 2021, Microsoft announced at the Ignite conference that it would launch a new Mesh for Microsoft Teams software. After the platform is launched, people in different geographical locations can get a collaborative and shared holographic experience, enabling them to join virtual meetings, send chats, and collaborate. Work with shared documents and more. The representative events of the global Metaverse industry in 2021 are as follows: Metaverse: The Metaverse is gradually constructed with the development of blockchain technology. The Metaverse is gradually constructed with the maturity of blockchain technology. In the blockchain 1.0 era, it is mainly embodied in the form of distributed ledgers and decentralized networks, with the goal of realizing currency decentralization and payment methods. With the emergence of Ethereum, the era of Blockchain 2.0 has arrived. Blockchain 2.0 is the technical implementation of blockchain in the direction of finance and smart contracts. Later, decentralized applications and decentralized finance emerged, promoting greater industrial reform. The emergence of the NFT industry has brought innovation to the DeFi field. At the same time, NFT, as the underlying structure of the Metaverse, will be the key to the future development of the Metaverse. According to the "Metaverse Token", the six supporting technologies of the Metaverse are blockchain technology, interactive technology, electronic game technology, artificial intelligence technology, network and computing technology, and Internet of Things technology. Among them, blockchain technologies such as NFT, DeFi, public chain speed, smart contracts, DAO social system, decentralized exchanges, and distributed storage are the most important technologies supporting the economic system of the Metaverse. Domestic Metaverse layout history Domestic companies that have deployed Metaverse business earlier include Tencent, NetEase, ByteDance, etc. As early as the beginning of 2020, Tencent had participated in Roblox's US$150 million Series G financing and was the exclusive agent for Roblox's product distribution in China. ByteDance invested in the Yuanverse concept company "Code Universe" and purchased Pico in April and June 2021 respectively. In November 2021, the network even announced that it would hold the Create AI Developer Conference in the Metaverse at the end of the year. The current situation of the metaverse layout of domestic representative enterprises Tencent is an early entry into the domestic enterprise, and its strategy of participating in the metaverse is mainly realized through investment. As of 2021, Tencent has equipped a large number of platform companies through investment and other means. In terms of hardware, such as VR/AR technology and platforms (Epic’s Unreal Engine, Snap), in terms of software, it covers people playing games, shopping, learning and social needs. As a game company, miHoYo's main Metaverse applications include the establishment of Counter-Entropy Studio, and cooperation with Ruijin Hospital to study the development and clinical application of brain interface technology. Recently, MiHoYo stated that it will invest in Soul, the first Metaverse social software. ByteDance and NetEase are also investing in the metaverse field. ByteDance is mainly doing so through the acquisition of pico and Lightboat Semiconductor, while NetEase is doing so by developing sandbox games and investing in the virtual social platform IMVU. The specific layout is as follows: Metaverse related technologies are gradually maturing. Judging from the current development status of related technologies in our country, our countryTechnological developments in VR, AR, MR, digital twins, etc. are relatively late, and Yuqiao Junsuke hopes to usher in further improvements in the future: In 2021, my country will continue to introduce policies to guide and support the development of metaverse-related technologies such as blockchain. In March 2021, the "14th Five-Year Plan" included "blockchain" into the national five-year plan for the first time and was clearly listed as a key industry in the digital economy. This is good news for the Yuanverse industry that relies on blockchain technology. Favorable policies that promote technological development can lay a technical foundation for the future development of the Metaverse industry. Domestic companies are accelerating their entry into the Metaverse market. Starting from March 2021, domestic companies began to register Metaverse-related trademarks. Before July 2021, the number of Yuanverse-related trademark registrations in my country remained below 25. In August 2021, the number of applications exceeded 50 for the first time. In September 2021, with the entry of Alibaba, Zhongqingbao and other companies, the number of Yuanverse trademark applications reached a peak of 344. Application volume slowed down in October 2021 but remains at a high level. In November 2021, 22 Metaverse-related trademark applications were filed in just 8 days. Note: November 2021 data is as of November 8, 2021. In 2021, investment incidents in my country’s Yuanverse-related fields will occur frequently. Related fields include VR, blockchain, cloud services, virtual humans, NFT, etc. In addition to professional investment institutions, the industries in which investment companies are located are mostly concentrated in the fields of electronic information and games. Representative companies include Tencent, Lilith, etc. Judging from the investment rounds, most of them are concentrated in angel rounds, indicating that most projects are still in their infancy, but the investment amount remains at a high level. The specific investment events are as follows: There are still certain risks in the Metaverse industry in the initial stage. Since my country's Metaverse industry is still in its infancy, it is characterized by immaturity and instability. Future development still requires technological development, institutional innovation and other aspects. jointly promote healthy development. Some of the current risks include technical computing power risks and privacy risks, as well as addiction risks, intellectual property risks and public opinion bubble risks. The above data refers to the "China Internet Industry Market Foresight and Investment Strategic Planning Analysis Report" by the Qianzhan Industry Research Institute.

7. What is the value of blockchain technology services in the real industry

1. Think about using blockchain in enterprise applications to provide more flexible, secure and efficient Business processes and distributed, independent markets. Blockchain allows asset owners to track and trade things of value, such as outstanding invoices, on a transaction “chain” that is more secure, transparent, private and self-coordinating. This capability increases the speed and flexibility of cash and asset management. For example, you are afraid of buying fake goods because one manufacturer transfers production to several middlemen, and then you buy it through the middlemen, not the manufacturer. If all data was decentralized, peer-to-peer, and transparent, then you could buy and pay directly from the manufacturer.

2. The automated market for other assets will be diversified. In essence, since the software itself is controlled and developedWith an open architecture and visible to all transaction participants, blockchain-based transactions can reduce the need for third-party supervision. If a company can publish valuable information to multiple potential buyers, and its content can be trusted and authentic to all buyers, and sellers cannot resell, then there will be open and transparent competition when making purchases. environment, sellers can also get better prices.

3. Reduce business transaction friction. Managing expenses is a challenge for most organizations. But blockchain can enable companies to create self-managed networks for suppliers and partners, enabling contract automation, instant payments, tracking of cargo shipments, and visibility of the entire supply chain. For example, if a company transports perishable goods in refrigerated containers, IoT sensors on the truck might call a smart contract on the blockchain when the container temperature exceeds a certain threshold. This will cause the corresponding order to be cancelled, and it will also be able to automatically create a new order so that a second batch of goods can be sent immediately, and the truck with the faulty refrigeration equipment can also be sent to the maintenance department for repair.

4. This type of network reduces transaction errors and information omissions by reducing or eliminating human-computer interaction. And, by connecting buyers directly with sellers, transactions become faster. Manage and secure decentralized private records. Traditional industry practice has been to rely on third parties to secure their shared information databases using firewalls and restricted access. Frequent data breaches show that this approach is not ideal. A fundamental advantage of blockchain is that each individual data record or element is encrypted with the key of a blockchain member. Cybercriminals may need to obtain every key of every member to gain access to all blockchain data. This is not to say that blockchain can guarantee 100% security of all data and help reduce the possibility of large amounts of private records being exposed.

5. A logical application would be employee or student records, where employers, educational institutions and even industry accreditation bodies can add new qualifications, grades or work locations if necessary. Imagine giving employees a key that can access all of their employee records as part of a secure blockchain that encompasses human resources. Individuals can securely share their college transcripts or employment history with other companies or educational institutions without having to rely on unreliable and easily forged faxes. Trace the origin of products and ingredients. Blockchain can help ensure product quality and safety by simplifying how products and ingredients are tracked and located in use. For example, suppose an automobile manufacturer forms a quality-centric blockchain that includes parts suppliers, component assemblers, quality control suppliers, and public regulatory agencies (such as the National Highway Traffic Safety Administration). Then the recall process for defective parts will be handled faster. This realization makes perfect sense when you consider that thousands of lives are lost every year due to defective car parts.

6. Verify identity and verify published information and data. Create better user control mechanisms. Today’s user information is easily manipulated, distributed to third parties, or even sold, creating a revenue stream for the social media platform owner that is never shared with the users of the message. Blockchain can disrupt all of these activities. It gives users control over their own information, and exactly where it resides. No platform is accessible without permission. Users can decide who can access their information. They can deal directly with advertisers and third parties as they choose, rather than like others. Furthermore, users can choose to share their information with advertisers on any platform and receive fees.

In summary, blockchain is a chain data structure that combines data blocks in a sequential manner in chronological order, and is cryptographically guaranteed to be non-tamperable and non-tamperable. Fake distributed ledger. Broadly speaking, blockchain technology uses block chain data structures to verify and store data, uses distributed node consensus algorithms to generate and update data, uses cryptography to ensure the security of data transmission and access, and uses automated scripts to A new distributed infrastructure and computing method (reference network) that uses smart contracts composed of codes to program and operate data

Applications in finance

Blockchain technology three Big applications

Application of blockchain technology in the field of asset securitization

In recent years, the domestic asset securitization (hereinafter referred to as "ABS") industry has developed rapidly. At the same time, asset cash flow management Problems such as the transparency and efficiency of underlying asset supervision that need to be improved, the low efficiency of asset transaction settlement, and the high cost of credit enhancement have also been gradually exposed. To apply blockchain technology in the ABS field, participants first need to build an ABS blockchain alliance, which consists of asset parties, Pre-ABS investors, SPV (trust), custodian banks, managers, intermediaries, and ABS investors. , exchanges are jointly composed. Its core business includes fund transaction reconciliation, transaction document management, data interaction interface, information release and sharing, underlying asset management, intelligent ABS workflow, etc. Blockchain applications can empower the ABS industry in at least the following five aspects.

1. Improve the cash flow management of ABS.
2. It is conducive to penetrating supervision.
3. It can improve the efficiency of sales and settlement of financial assets.
Four. The efficiency and transparency of securities transactions will be greatly enhanced.
5. It can reduce the transfer cost in the credit enhancement process.

2. Application of blockchain technology in the insurance field

The insurance industry has grown rapidly in recent years. However, as regulatory policies for short- and medium-term survival products continue to tighten, the scale of universal insurance business has declined significantly. In the insurance product design process, blockchain is conducive to promoting the breakthrough of bottlenecks and rapid development of insurance categories with strong customized attributes, such as agricultural insurance, product quality insurance, etc.

Quality insurance can endorse the reputation of a company and protect the rights and interests of consumers at the same time. However, insurance companies underwriting quality insurance need to conduct a comprehensive evaluation of enterprises and products, but theseData is often difficult to collect truly and effectively, which restricts the development of quality insurance. The establishment of a product traceability and anti-counterfeiting application platform based on the underlying technology of blockchain can help insurance companies easily trace information in all aspects of product production, processing, sales, purchase, complaints, etc. through the platform, thereby effectively judging the incidence of quality defects in related products and formulating Insurance products promote consumption upgrading and industrial upgrading.

In the insurance sales process, the application of blockchain technology can simplify the sales process, save sales costs, and achieve traceability of insurance sales. From the perspective of an insurance company, a willing policy holder purchases a policy through a channel, and the channel provider uniformly sends the policy holder's information to the blockchain platform. The platform determines whether the willing policy holder is in the whitelist based on the distributed and stored information. If it meets the standards, then Accepting purchase requests eliminates the previous tedious processes of manual transmission, acceptance, review, and feedback. From a consumer perspective, blockchain technology can realize the traceability of insurance sales behavior and safeguard the legitimate rights and interests of consumers. The insurance sales market has always been full of chaos, and the phenomenon of false advertising of insurance products through deception, concealment or inducement is repeated. Blockchain technology can put key actions in all aspects of insurance sales on the chain and realize the traceability of sales actions throughout the entire process, thereby standardizing insurance sales behavior and promoting the sustained, healthy and stable development of the industry.

In the insurance claims process, the application of blockchain technology can improve claims efficiency and enhance customer experience. The claims and loss handling process is an important process in the insurance market. Complex claims processes increase costs, reduce claims efficiency, and affect customer experience. Smart contract technology can simplify the claim submission process, reduce the need for manual review, and shorten the processing cycle. At the same time, suspicious behavior can be more easily identified through historical claims and asset provenance records in the distributed ledger.
In the field of insurance anti-fraud, the application of blockchain technology can effectively prevent the occurrence of insurance fraud incidents. Insurance fraud not only erodes the profits of insurance companies, but also damages the legitimate rights and interests of other insurance consumers. Although various insurance companies have made great efforts to combat insurance fraud, the reality is still grim. Blockchain technology can help the insurance industry alleviate or even resolve this stubborn problem in at least the following two aspects. The first is to establish an anti-fraud sharing platform to reduce fraud and strengthen assessment through historical claim information; the second is to establish "uniquely identifiable identity information" through the use of trustworthy data sources and coded business rules to prevent identity fraud.

3. Application of blockchain technology in the field of asset custody
In recent years, the global asset custody industry has entered a fast lane of rapid development, with the scale of assets under custody and major custody products maintaining rapid growth. , but there is still a certain gap between this scale and international advanced peers, and there is still a large room for development in my country's asset custody industry.

The application of smart contract technology in the blockchain can effectively solve the operational risks in the asset custody business. The business process of asset custody can be optimized from the following aspects: First, the automation of the whole process is realized, and the business instructions areJudgment and execution rules are encapsulated into smart contracts, and smart contracts are used to execute contracts and provide risk warnings; secondly, the process efficiency is improved, and asset entrusters, managers, custodians, and agents share real-time information on asset changes, transaction details, etc. The process of repeated verification and confirmation of rights is eliminated; the third is to ensure the security of contract performance and the authenticity of transactions, and ensure the formality of participant information, the limited visibility of ledger information and the verifiability of transactions by setting keys; the fourth is to ensure It ensures that the information cannot be tampered with, and puts the compliance verification requirements of the investment plan on the blockchain to ensure that every transaction is completed on the basis of consensus.

For now, the one most closely related to blockchain is Bitcoin. If you want to know more and some news about the Bitcoin blockchain, you can follow some new media. For example, Sohu, Baijiahao, Mustard Circle and so on. Foreign websites such as CCN and CoinDesk have huge sources of information, which will be of great help to you if you want to understand blockchain and finance. The above content is half handwritten and half quoted. If you still have doubts, you can take a look at the TED talk on blockchain applications linked below, which has Chinese subtitles. Hope it helps!

8. How much does it cost to develop a blockchain application?

It mainly depends on the functions of the blockchain application app. For example, starting technology is calculated based on functions. Blockchain development costs. If there are many functions and high complexity, the corresponding cost will be relatively high. If the functions are simple, the price will naturally be very low.
Whether it is a blockchain wallet, a blockchain exchange, a blockchain pet game, or a blockchain points mall, prices are estimated in this way.
The cost of this development is mainly calculated by labor cost and hardware consumption cost, plus some marketing expenses, and the price can almost be determined.
In some cases, the price of the app will be very low, that is, there is ready-made source code that can meet the needs of customers, and it only needs to be modified and added with some functions before it can be used.

9. What is the legal currency of the blockchain?

The legal currency of the blockchain refers to the national legal currency. In the currency circle, legal currency refers to the country's legal currency. China's is the RMB, the United States is the U.S. dollar, and India is the rupee. These are currencies issued by the country and the government and only guaranteed by government credit. It is wrong to think that the legal currency of the blockchain is a new type of encrypted digital currency called legal currency, or that it is a French currency like OK currency.

What are currency circles and chain circles

1. The "currency circle" itself has nothing to do with blockchain technology. It is a type of capital financing in the financial field. The way it operates, because the blockchain system has an incentive mechanism, users who use certain blockchain platforms will be rewarded with digital currencies, so capital operations will use financial means to operate on the value of digital currencies. The “currency circle” itself has nothing to do with blockchain technology. ICO is a company raising funds by issuing these digital currencies.

2. "Chain circle" is a field based on blockchain technology, which mainly uses blockchain decentralization, consensus, algorithms, encryption, P2P communication and other technologies to make the chain The data cannot be tampered with, while increasing the authenticity of the data on the Internet. It solves many criticisms caused by data credibility in some industries. For example, the "JD Blockchain Anti-Counterfeiting Traceability Platform" developed by JD.com can accurately trace the existence certification characteristics of goods. Ensure that all production, logistics, sales and after-sales information cannot be tampered with. Complete transactions based on the blockchain platform and confirm the ownership and authenticity of assets.