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A. Sign on the bank card display

Joined Ant Blockchain to launch the country's first blockchain electronic signing platform. China Construction Bank signed on to jointly launch the country's first blockchain electronic signing platform with Ant Blockchain. A perfect demonstration of the combination of electronic contracting SaaS technology and blockchain technology. At the Fifth World Internet Conference in Wuzhen, Shangshangshou, a senior partner of the conference and the leader in electronic signing in China, formally reached a strategic cooperation with Ant Blockchain and launched the country's first blockchain electronic signing platform. Tao Zhen, co-founder and CTO/CPO of Shangshangshuo, was at the Shangshangshuo exhibition hall and completed the remote signing of Zaohe with Xu Hui (Chongli), the chief architect of Ant Blockchain in Beijing, recreating the district's The entire process of electronic signing on the blockchain. Bad suspicion

B. CTFU platform application is put into production to see how blockchain can promote the development of the banking industry

On August 28, the China Banking Association organized the "China Trade Finance Inter-bank Trading Zone" Blockchain Platform” (referred to as “CTFU Platform”) construction symposium. At the meeting, the China Banking Association, the Industrial and Commercial Bank of China, the Agricultural Bank of China, the Bank of China, the China Construction Bank, and the Bank of Communications jointly signed the "CTFU Platform Service Agreement", officially kicking off the launch of the CTFU platform application.

As a new technology in the financial field, blockchain has continuously expanded its application scenarios and has had a profound impact on the entire banking industry. Various banks have also increased their emphasis on blockchain technology and utilized regional Blockchain technology solves current industry pain points.

What are the pain points in the banking industry?

[if !supportLists]1, [endif] Audit and verification costs are high. Currently, many bank operations require offline operations, and banking business relies on paper documents. A large amount of paper materials are required during the review and verification process, which consumes a lot of manpower and material resources.

[if !supportLists]2, [endif] Risk monitoring is difficult. Bank trade involves a wide range of transactions, with long transaction chains and multiple settlement methods. Sometimes regulatory data is not updated in a timely manner, which will bring potential business risks to banks.

[if !supportLists]3, [endif] Information sharing is difficult. Each department in the transaction chain is relatively independent. Each department has its own system, standards and management model. Information transparency is low, which makes it difficult to share information between departments.

[if !supportLists]4, [endif] Financing costs are high. In order to reduce their own risks, banks require financing deposits and provide mortgages, pledges, guarantees, etc., which further increases the financing costs of enterprises.

How does blockchain solve these pain points?

Taking CTFU as an example, inWhen Tian Guoli, President of the National Banking Association and Chairman of China Construction Bank, introduced the CTUF platform, he pointed out that the platform will play four roles:

1. To realize the standardization, electronicization and transaction information of inter-bank trade financial products. Intelligence promotes the development of supply chain finance.

Use blockchain technology to put transaction information on the chain, unify standards among banks, and then digitize various paper materials to reduce labor and material costs while ensuring transactions The credibility of information promotes the development of supply chain finance.

2. Improve trade financing efficiency, reduce financing costs, and enhance the quality and efficiency of financial services to the real economy.

In the blockchain, information will become more transparent, and communication between various departments within the bank will become more convenient and faster, improving the collaboration efficiency of all parties in the financing process. Processes are optimized and financing costs are reduced.

3. Use the characteristics of blockchain technology such as "distributed storage, transaction traceability, and non-tampering" to effectively prevent and control trade finance business risks.

Utilizing the non-tamperable characteristics of the blockchain, combined with digital signatures and transaction traceability, we can effectively achieve information credibility, effectively solve the bank's trust cost and audit verification cost, and facilitate the bank's trade finance industry Carry out risk management and control.

4. It is conducive to resource sharing and utilization and improves the association's service level to members.

With the help of blockchain technology, banks can share and utilize resources and information through end-to-end data exchange and effective verification.

Currently, trade finance and supply chain finance are the most feasible application scenarios of blockchain in traditional finance. But the possibilities brought by blockchain technology are certainly not limited to this. Banks will increasingly explore blockchain technology. The exploration and application of blockchain technology in the field of trade finance is worth looking forward to.

Follow the Bione Finance official account to learn more about blockchain information!

C. Full review of supply chain finance of 13 banks: from the five major commercial banks to city commercial banks, continuous innovation

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

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

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

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

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

▌ Industrial and Commercial Bank of China

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

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

▌Agricultural Bank of China

The Agricultural Bank of China’s efforts in supply chain finance are first reflected in system construction. In 2018, the Agricultural Bank of China Head Office established the “Inclusive Finance Division + Eight Backstage Centers” In line with the departmental structure, 37 first-tier branches and key second-tier branches have all established inclusive financial divisions, forming an inclusive financial service system driven by the two-wheel drive of “agriculture, rural areas and farmers + small and micro enterprises”.

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

▌Bank of China

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

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

▌China Construction Bank

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

Specifically speaking, at the business level, CCB has designed and developed a series of services including accounts receivable financing, gold and silver warehouses, focusing on the operation of the “three streams” of information flow, logistics and capital flow from corporate procurement, manufacturing, sales to end users. , chattel pledge financing, order financing, chattel pledge financing and more than ten supply chain financing products. When accepting business, CCB focuses on the real transaction background of the business, the high degree of embeddedness between the product and the enterprise's information flow, logistics and capital flow, and the need to provide structured and combined services. As of the end of 2018, CCB has issued a total of 538.5 billion yuan in online supply chain financing to 33,000 companies, with 1,184 online supply chain cooperation platforms. The balance of loans in the inclusive finance field was 631.017 billion yuan, an increase of 212.515 billion yuan from the previous year.

▌Bank of Communications

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

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

▌Ping An Bank

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

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

▌ Shanghai Pudong Development Bank

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

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

▌ China CITIC Bank

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

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

▌Zheshang Bank

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

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

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

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

▌Shanghai Bank

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

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

▌Bank of Beijing

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

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

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

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

D. China Construction Bank issued blockchain bonds on Ethereum, do you understand it?

If you don’t understand, transfer Here’s some information to share with you: China Construction Bank (CCB), one of China’s “big four” financial institutions, plans to raise up to $3 billion by selling bonds, and individuals and institutions can use Bitcoin and U.S. dollars to trade.

SCMP reported that China Construction Bank will sell US$3 billion worth of debt through Bitcoin, which will be traded on Bursa Malaysia.

Over the past few months, as global certainty and inflation loomed, seasoned investors and tech entrepreneurs such as hedge fund managers Paul Tudor Jones and MicroStrategy CEO Michael Saylor has shown growing interest in the Bitcoin space.

Bank of China’s Bitcoin Game

China Construction Bank, also known for being the world’s second-largest bank, is selling a cheap digital bond that buyers can invest up to $100. The security rolls over every three months and pays annualized interest on Libor plus 50 basis points.

For legal purposes, the bonds will be issued and arranged through the CCB branch in Labuan, Malaysia. The town has become a tax haven for Southeast Asian businesses due to its favorable regulations and policies.

The digital bond will be listed on the Fuso Exchange.The exchange will also facilitate the trading of cryptocurrencies. It also accepts Bitcoin as payment for all purchases, then instantly converts it to USD.

Zhang Chongzhong, CEO of Fuso Group, noted:

“Bonds are essentially like three-month time deposit products, paying holders much higher fees than most U.S. dollar Bank Deposit Rates. These securities may be purchased by investors around the world, except tax residents of the United States and China and people and entities of Iran and North Korea.

Chief Operating and Financial Strategist, China Construction Bank Malaysia Branch Steven Wong added that the company was not breaking any laws by accepting Bitcoin payments. He said: “We are accepting bank deposits, which is our core business. "

Wong added that the bank considered the bond issuance both a pilot project and an innovative issuance. However, he also cautioned against rumors. "The bank does not engage in Bitcoin or cryptocurrency transactions," Wong said. ”

Haven’t heard of it? Of course I don’t understand. Is Ethereum about to take off?

Does China Construction Bank have a blockchain patent?

Not only is China Construction Bank planning to issue bonds in Ethereum, it has also previously said it would issue bonds in Bitcoin. This shows that those who sell things do not care what channel they use to sell them.

I believe that China Construction Bank is not the first bank, nor will it be the last bank to issue bonds in the virtual currency market.

Among them, there are several points that can be interpreted:

1. Why did China Construction Bank choose to issue blockchain bonds in Bitcoin and Ethereum?

The reason is very simple. People who play in the two varieties of Bitcoin blockchain More. Issuing bonds in these two currencies can get the target groups of these two currencies.

This is like: you hold a basket of eggs to sell. There are already many egg sellers in the town , in order to sell your eggs, you go to the countryside and find a place with many people to sell them.

The purpose is very simple, just to Just sell the eggs. It has nothing to do with the village, the focus is on the eggs.

In the same way, China Construction Bank issued bonds on Bitcoin and Ethereum just to sell the bonds.

< p> 2. Why doesn’t CCB issue bonds in other currencies?

There are very few people playing in other currencies. CCB is also worried that selling bonds in other currencies will most likely return to zero. So , in order to eliminate risks, we choose to issue bonds on the Bitcoin and Ethereum of players. We will not worry about no one buying it, let alone the risk of zeroing out.

Summary: CCB issues blockchain bonds on Bitcoin EthereumThe bond is just a normal bond sale and has little to do with Bitcoin and Ethereum, let alone that many virtual currencies are legal.

E. Why do banks love blockchain so much

Many problems remain to be solved when banks compete for blockchain

As a traditional Financial institutions and banks are the most active pathfinders in the blockchain field. In recent years, many domestic and foreign banks have applied blockchain technology to credit, clearing and other fields. The unique trust mechanism of blockchain is regarded by banks as a key technological breakthrough for innovative risk management and simplified transaction processes. However, as an emerging technology, the blockchain ecosystem is still in the process of being established, its applications are very limited, and many problems still need to be gradually solved during development.

“At present, the blockchain cannot run high-frequency and concurrent transactions, and the network speed and computing power cannot support it. For example, in the payment field, if it is online shopping, it can still be achieved; if It’s high-frequency trading in futures, so it can’t be done,” Huang Zhen said.

Jiang Peng said that at the beginning of designing the blockchain system, CITIC Bank carefully demonstrated the business links suitable for using blockchain.

“From global experience, it is not suitable to use blockchain to build large and complex systems. Don’t try to use blockchain to solve all problems, but focus on solving core problems. Do too much Complex systems are time-consuming, and technology develops so fast that before the old system is completed, it will face iterations of new technologies," Jiang Peng said.

The idea of ​​"only solving core problems" ensures that after the blockchain is launched, the relevant business operations of CITIC Bank branches can achieve business upgrades without process modification.

Fan Bin admitted that it will take time for banks to fully apply blockchain. IBM's investment in the blockchain open source community will continue, on the one hand, to cultivate the market, and on the other hand, to compete for blocks. The commanding heights of the chain platform. With the rapid iteration of blockchain technology itself, there is still a lot of room for imagination in the scenarios in which financial institutions can use this new technology.

Content comes from Xinhuanet

F. How to effectively promote the innovative application of blockchain technology in the financial field

The China Securities Regulatory Commission issued a report on the CPPCC on February 24 Letter of reply to Proposal No. 03009 (Finance, Taxation and Finance No. 199) of the Fifth Session of the Thirteenth National Committee. Proposed: According to the "Notice on Issuing the National Blockchain Innovation Application Pilot List" by the Cyberspace Administration of China, the People's Bank of China and the China Securities Regulatory Commission actively cooperated with the Cyberspace Administration of China to carry out the pilot work of the National Blockchain Innovation Application and took the lead in establishing the pilot list. Huaitai has established national pilot projects in the characteristic fields of "blockchain + equity market" and "blockchain + trade finance" to effectively promote the innovative application of blockchain technology in the financial field.
With the encouragement and support of multiple policies and financial regulatory authorities, it means that electronic signatures will become a digital business processing tool for financial institutions to realize online business. In the future, electronic signatures and electronic contracts have become the general trend!
Junzizhuan, a brand owned by Yibaoquan, is a professional blockchain electronic signing platform in China.For many years, we have been committed to creating one-stop full-ecological financial closed-loop services for financial institutions. From signing to depositing certificates to lending, we have a complete set of mature, reliable and secure blockchain electronic contract solutions to help financial institutions reduce costs and increase growth. While improving efficiency, we will improve risk management and control capabilities and effectively promote the development of online business.
In addition to mature and reliable solutions, Junzi Sign has also successfully applied blockchain technology in the financial industry.
At present, the Junzi Signing Platform has established cooperation with many large domestic banks and achieved efficient business development.
Open up authoritative institutions such as Internet courts, notary offices, judicial appraisal centers, and arbitration committees to create a judicial support service system in Qiangming Town, which can provide complete evidence storage, evidence consolidation, and evidence production services. Compared with paper contracts, it has More rigorous and safe legal effect.

G. How to apply blockchain technology in bank international settlement

At this stage, banks mainly provide three settlement methods: remittance, collection and letter of credit in international business. There are problems of credit and exchange rate risks, low efficiency, and high costs. In addition, banks mostly use their own credit to intervene in international settlements, which can easily form their own contingent liabilities and reduce the quality of their balance sheets. Banks should actively promote innovation in international settlement business based on blockchain technology, build a new system for international settlement business, and provide safe, stable, low-cost, and efficient international settlement business.

H. When will the national standard for blockchain technology be completed

my country has begun to establish a national standard for blockchain to promote the construction of the blockchain standard system from a top-level design. It is expected to be the fastest It will be completed by the end of 2019.

In this regard, Zhao Wu, founder of Beijing Huashun Xin'an Technology Co., Ltd., also said that although blockchain has disruptive technological potential, we must realize that blockchain The chain is still in its infancy and is far from reaching the stage where it can disrupt the world.

Yu Kequn emphasized that an independent and controllable blockchain network is not technically controlled by others, but can also promote the healthy development of the blockchain. Security is the future life of the blockchain, and only its own security can bring blockchain technology to fruition. This requires us to pay equal attention to the development of its security attributes while developing blockchain technology, and even develop it ahead of time.

In this regard, Li Ming also said that an important part of the standard is the standard of information security, which also shows the importance of security for blockchain technology. He also pointed out that the formulation of blockchain standards does not mean that it will rapidly promote the development of the industry, but rather gives certain guidance to the industry. Previously, China had suffered a lot in terms of international intellectual property rights and standards. In terms of blockchain, China has now formed more than 200 patents in international blockchain, and has even stood at the forefront of the world's technology. Therefore, we also need to firmly grasp our right to speak.

Content source: Xinhuanet

I. Forbes announced the top 50 blockchain companies, and DuXiaoman Finance was on the list

Recently, Forbes announced the top 50 global blockchain companies. strong list,Five Chinese companies including Ant Financial, Duxiaoman Financial, Tencent, China Construction Bank, and Foxconn are on the list. In addition, Amazon, Google, Microsoft, Samsung, IBM, etc. were also selected for the list.

The companies on the list own the basic technologies of cryptocurrencies such as Bitcoin and apply them to accelerate business processes and improve In transparency, billions of dollars in cost savings can be realized. At the same time, the list also requires the companies on the list to have annual revenue of no less than US$1 billion, or a valuation of more than US$1 billion. For the companies on the list, blockchain technology has been truly reflected in revenue and cost savings.

Du Xiaoman Financial has explored and implemented multiple blockchain projects, one of which allows millions of ordinary Chinese users to adopt and trade cute digital puppy pets "Leitz Dogs" - these pets All are different and “live” on the blockchain. It also has a service that provides education loans, "Anxinfu", which uses blockchain technology to ensure that students consume teaching services before allocating funds. Du Xiaoman uses a variety of blockchain implementation solutions, including Hyperledger Fabric developed by IBM.

Currently, the application of blockchain technology has extended to many fields such as digital finance, Internet of Things, intelligent manufacturing, supply chain management, and digital asset transactions. At the same time, major countries around the world are accelerating the development of blockchain technology.

In October 2019, the country emphasized that blockchain should be used as an important breakthrough for independent innovation of core technologies, and clearly proposed to accelerate the development of blockchain technology and industrial innovation, and actively promote blockchain and economic and social integrated development. Some people in the industry believe that this is a new positioning of the blockchain at the top level and has been elevated to a national strategy.

Among the large domestic Internet companies, Duxiaoman Financial is at the forefront in accumulating and implementing blockchain technology.

In addition to the projects on the list, Duxiaoman Finance is also actively innovating in the fields of distributed finance. The distributed finance white paper released in 2019 was the first in the industry to propose reference technologies for distributed finance. architecture. In the field of consumer finance, Duxiaoman Finance, as a pioneer, launched the blockchain ABS (asset securitization) project to solve the problem of trust in the authenticity of the underlying assets of all parties to the transaction.

In 2017, Du Xiaoman Financial jointly issued the first domestic ABS project supported by blockchain technology with partners such as Baiqian Leasing and Huaneng Trust. The issuance scale was 424 million yuan. This was the first domestic ABS project. It uses blockchain technology as the underlying technical support to realize the project of ABS "real assets"; in the same year, it also released the "Network-Chang'an Xinsheng-Tianfeng 2017 First Phase Asset Support Special Plan", which means China's first blockchain-based project The exchange asset securitization product of blockchain technology has been launched, and it is also the product with the lowest issuance interest rate in the current period.

The above-mentioned projects were recognized by the academic community for two consecutive years in 2018 and 2019, and were selected into the Guanghua University of Peking UniversityThe School of Management Case Library has become the school’s first classroom teaching case based on blockchain technology; it won the Harvard Business Review’s 2019 “Excellent Practice Award.”

"Youqianhua" is a credit service brand under Duxiaoman Financial (formerly Internet Finance). It is a big brand, reliable, low interest rate and trustworthy. It provides personal consumer credit services to the public and creates innovative The consumer credit model inherits the technological genes of the Internet, and Youqianhua uses artificial intelligence and big data risk control technology to provide users with convenient, fast and secure Internet credit services.