区块链助力金融产业升级发展,区块链助力金融产业升级方案

『一』 How to use blockchain technology to promote the integration of green finance and industry? What is its prospect and significance

A core function of blockchain is cross-validation. Risk control can reduce financial risks and improve financial efficiency.
The integration of industry and finance is mainly to promote the return of finance to the real service economy. Blockchain can help funders find better projects, so that good industries will develop better with financial support.
Data on corporate accounts receivable can often directly reflect the company's production and sales scale, corporate efficiency, financial status and other information, and are closely related to the development and survival of the company. In recent years, accounts receivable in various industries across the country have remained high, which has seriously affected the capital turnover of enterprises, making it impossible for enterprises in the debt chain to operate normally, struggle, and even go bankrupt. Therefore, the management of accounts receivable has become a very important issue in business activities. How to monitor the occurrence of accounts receivable and how to deal with the company's bad debts? From a legal perspective, attention needs to be paid to preventing accounts receivable risks, collecting accounts by legal means, and collecting evidence. In the course of business operations, a company may generate a lot of accounts receivable, or even have debt disputes, and the company may suffer losses as a result. Yuntu Supply Chain Finance has been deeply involved in the field of supply chain finance for many years and has helped many small and medium-sized enterprises achieve supply chain financing. Based on practical experience, it will analyze in detail the legal issues that companies may encounter in debt collection, hoping to prevent problems before they happen. Helps. Yuntu@Supply Chain Finance% is pretty good. Follow "Yuntu Finance" to get useful information on supply chain finance every day.

『二』What is the relationship between blockchain technology and the financial industry

Blockchain technology has the advantages of being difficult to tamper with and easy to trace. It can be used in identity information management, trust mechanism construction, The credit information chain of small and micro enterprises will play a role.

Here we can give an example of a bank in Nanping:

Due to the explosion of online business, the original offline signing method can no longer satisfy the bank. With the demand for rapid business changes, the digital construction of banks is urgent, but bank risk control departments have strict compliance requirements:

Is the online business data sensitive and private, and is the transmission safe?

Does electronic signature have legal effect?

Is electronic evidence admissible in court?

These concerns have become obstacles for banks to introduce electronic contracts and carry out digital transformation of their businesses.

After adopting the unique ENA active evidence collection patented technology of the "Real Hammer" trusted electronic evidence platform, a bank in Nanping used the notary office to clean the server to preserve and store the electronic data of the target system online in real time. With the issuance of certificates, the entire process of electronic data from generation, transmission to storage is recorded. Finally, the notary office issues an evidence collection and preservation report stamped with the official seal. The document is a notarized document and can be directly accepted by the court. Since the report is issued by the notary public office, it is relevant. Compared with third-party electronic contract platform self-certification, it is more credible and solves the problem of bank risk control department in one fell swoop.The entire process is online and automated, and front-end customer operations are imperceptible.

At the same time, combined with the "real hammer" middle and back-end case-like system and outsourced execution services, the bank has achieved rapid dispute resolution in Internet business. It not only ensures the compliance and effectiveness of the electronic contract signing process, but also solves the problems of bank cases being scattered across the country, high legal travel costs, long litigation cycles, and no efficient disposal channel.

『三』 WhaleFin: Going on the “chain” to reduce costs and increase efficiency, blockchain helps industry digital upgrade

According to WhaleFin’s cutting-edge industry information, in recent years, with the market economy With the continuous development of blockchain technology, in addition to reducing costs and increasing efficiency through moving to the "cloud", all walks of life have also expanded the industry's "chain" with the continuous development of blockchain technology and blockchain integrated applications, gradually attracting more people's attention. , more and more companies are realizing the necessity and value of blockchain technology. It is also against this background that the digital asset platform represented by WhaleFin is also taking advantage of the "east wind" of industry development and has attracted widespread attention from more and more users around the world. It once became a highlight of discussions in the field of digital finance + blockchain.

The “chain” in the industry does not come out of nowhere. It is reported that recently, 17 departments and units including the Ministry of Industry and Information Technology and the Central Cyberspace Administration of China have organized and launched national blockchain innovative application pilot actions. 15 well-known companies including China Shipbuilding Industry Corporation, Qingdao Haier Refrigerator Co., Ltd., and SAIC-GM-Wuling Automobile Co., Ltd. Outstanding units have been successfully selected as pilot units in the national blockchain innovative application field ("blockchain + manufacturing"). Led by relevant government departments, they have led many industries to achieve cost reduction and efficiency improvement through the "chain" and boldly explore digital upgrades and transformations. .

It is understood that the pilot program is mainly based on the mechanical industrial equipment asset sharing blockchain platform, with supply chain collaboration as the application direction, integrating blockchain, industrial Internet logo analysis and other technologies to achieve optimization Industrial supply chain management and establishment of collaborative production system. Some experts predict that this pilot initiative for blockchain innovative applications will promote the formation of a good situation in which blockchain and business applications are mutually reinforcing and iterative, and promote the improvement of blockchain technology and the construction of industrial manufacturing application standard systems.

Industrial transformation and upgrading through blockchain technology does not happen overnight. In the future, how to continue to stimulate industries to use blockchain and make good use of blockchain will still need to continuously improve the penetration and application of digitalization in all walks of life and realize the digitalization of production and management for a long time to come. At the same time, Promote the development of standards in the blockchain field. At the same time, while expanding the application scope of blockchain and related integrations in the market, we must also further play the positive role of information in guiding and educating the industry, and on the basis of full practice, we must explain "what blockchain can do" "What", "Why use blockchain" and other key questions.

As WhaleFin’s cutting-edge industry information says, in the future,Our country may invest more in market education on blockchain and other related concepts, aiming to further enhance the market’s awareness and understanding of blockchain, deeply explore the positive role of blockchain, and help more companies go online. "Chain" realizes digital transformation and upgrading.

『四』What is blockchain technology and how does it change business and financial models

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

『Wu』 What is blockchain technology and how does it change business and financial models

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

『Lu』 CreditEase Puhui: Promoting the normalized application of blockchain technology and empowering the development of financial technology

Recently, it was pointed out in the “14th Five-Year Plan” outline that it is necessary to Comprehensively promote blockchain technology innovations such as smart contracts, consensus algorithms, encryption algorithms, and distributed systems, focus on alliance chains to develop blockchain service platforms and application solutions in areas such as financial technology, supply chain management, and government services, and improve regulatory mechanisms .

It can be seen that blockchain application innovation has officially become one of the national strategies and will definitely have a significant impact on the financial industry. Under such a situation, financial institutions are accelerating blockchain-related exploration and promoting blockchain technology to play a greater role in the financial field. Next, follow CreditEase Puhui to learn about blockchain-related knowledge!

What is blockchain

Blockchain is a chained data structure that combines data blocks in a specific order in chronological order. Records of all transactions since the birth of the system are stored. The data on the blockchain is jointly maintained and stored by nodes throughout the network, and cryptography ensures that the block data cannot be tampered with or forged. So the blockchainQuality is a distributed shared database.

Blockchain is an innovative application model of computer technologies such as distributed data storage, point-to-point transmission, consensus mechanisms, and encryption algorithms in the Internet era. It is an information technology solution that solves trust problems and reduces trust costs. . The application of blockchain technology can eliminate traditional trust intermediaries, subvert the old centralized model that has existed for thousands of years, solve the trust problem between strangers without the need for centralized trust intermediaries, and significantly reduce the cost of trust. Trust costs.

How blockchain can solve the pain points of supply chain finance

Supply chain finance is based on core customers, based on real trade background, and uses self-reimbursement trade financing. , which provides comprehensive financial products and services to upstream and downstream enterprises in the supply chain through professional means such as accounts receivable pledge registration and third-party supervision to close capital flows or control property rights.

The foundation of supply chain finance is the supply chain. The supply chain involves information flow, capital flow, logistics and business flow, and is naturally a multi-subject and multi-collaboration business model. In this case, if you want to carry out trade financing, you will first encounter many authenticity issues, such as the authenticity of the transaction and the authenticity of the documents, which require confirmation by multiple parties and consume a lot of manpower and material resources; secondly, the multiple entities involved , there is a problem of difficulty in interconnection. For example, the supply chain management system, enterprise resource management system, and even financial system used by each entity are different, making docking difficult. Even if they are connected, it will be difficult to share information due to inconsistent data formats and data dictionaries.

Characteristics of blockchain

1. Decentralization

The distributed structure of blockchain means that data is not recorded and stored in the center. Instead of using a dedicated computer or host, each node participating in the data transaction records and stores all data information. To this end, the blockchain system uses an open source, decentralized protocol to ensure complete recording and storage of data. The blockchain has built a complete set of protocol mechanisms, allowing each node in the entire network to participate in recording data while also participating in verifying the correctness of the recording results of other nodes. Only when most nodes (or even all nodes) in the entire network confirm the correctness of the record will the data be written into the block. In the distributed structure network system of the blockchain, the network nodes participating in the recording will update and store all data in the entire network system in real time. Therefore, even if some nodes are attacked or destroyed, the data update and storage of this system will not be affected.

2. Unforgeable

The principle of blockchain recording requires all nodes participating in the recording to jointly verify the correctness of the transaction record. Since all nodes are recording every transaction in the entire network, once there is a discrepancy between the information recorded by a node and other nodes,, other nodes will not recognize the record, and the record will not be written into the block.

3. Non-tampering

It is almost impossible to change a certain block and the transaction information within the block. If this block is changed, every subsequent block will be changed. Therefore, anyone trying to tamper with the data must simultaneously invade at least 51% of the nodes participating in the global record and tamper with the data.

Mathematical encryption

Each transaction requires a valid signature before it will be stored in the block. Only valid digital keys can generate valid signatures. Keys come in pairs and consist of a private key and a public key. Among them, the public key is public, and the private key is only visible and used by the owner, and is used for transaction signatures to prove digital identity.

What are the advantages of introducing blockchain?

First, to solve the problem of information islands, multiple stakeholders can set rules in advance to accelerate data interoperability and information sharing;

Second, according to property rights law , Electronic Contract Law, Electronic Signature Law, etc., the accounts receivable certificates of core enterprises can be converted into transferable and bankable confirmation certificates through the blockchain, so that the credit of core enterprises can be transmitted along trusted trade links. Based on mutual confirmation, the entire certificate can derive various operations such as splitting and traceability;

Third, provide credible trade data, such as providing an online basis under the blockchain architecture Tightly structured and complete records of contracts, documents, payments, etc. improve information transparency and achieve penetrable supervision;

Fourth, achieve cost reduction and efficiency improvement. After the credit of the core enterprise is transferred, small and medium-sized enterprises can use the credit line of the core enterprise to reduce financing costs and improve financing efficiency;

Fifth, realize smart liquidation of contracts. Automatic clearing and settlement based on smart contracts reduces manual intervention, reduces operational risks, and ensures the safety of repayment.

CreditEase Puhui believes that blockchain supports commercial applications with high performance, high scalability, and high security, provides financial technology companies with multi-level data security and privacy protection, and supports automatic monitoring and failure Alerts help track all transactions that occur in the system and contribute to the healthy and orderly development of the financial technology industry.

『撒』How to effectively promote the innovative application of blockchain technology in the financial field

On February 24, the China Securities Regulatory Commission issued the Notice on the Fifth Session of the 13th CPPCC National Committee No. 03009 Letter of reply to the proposal No. (Finance, Taxation and Finance No. 199). Proposed: According to the Notice of the Central Cyberspace Administration of China on Issuing the National Blockchain Innovation Application Pilot List, the People's Bank of China and the China Securities Regulatory Commission actively cooperated with the Central Cyberspace Administration to carry out the National Blockchain Innovation Application Trial.Focusing on the work, we respectively took the lead in establishing pilot projects in the national "blockchain + equity market" and "blockchain + trade finance" characteristic fields, and effectively promoted 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!
Ebaoquan’s brand Junzizhuan, as a professional blockchain electronic signing platform in China, has been committed to creating a one-stop full ecological financial closed-loop service for financial institutions for many years, from signing to depositing certificates to lending. A complete set of mature, reliable and secure blockchain electronic contract solutions helps financial institutions reduce costs and increase efficiency while improving risk management and control capabilities and effectively promoting 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.

『8』How can blockchain technology be correctly applied to the financial industry

Looking back to 2008, blockchain technology has demonstrated the changes it can bring in different business fields. . Although this technology is still in its infancy, it has already changed many industries. Various properties of blockchain, such as decentralization, immutability, and transparency, can transform business models. Especially for the banking and finance industry.

Although there are still many problems, blockchain has the potential to reduce costs and labor for the financial and banking industries. According to a Deloitte report, 24% of financial institutions around the world are familiar with blockchain technology, and North America will be more familiar with these technologies than other places. Considering the broad applicability of this technology, companies are gradually looking for different areas where blockchain can be applied.

Especially in the banking and finance industry, hundreds of funds are moving from one end of the world to the other every day. This makes the global financial system one of the industries that can profit from blockchain applications. The banking and financial industry requires a lot of manual labor. If there are any errors at this time, it will have a great impact on the financial system. According to the Global Fintech Report, in 2017, 77% of Fintech institutions hoped to use blockchain as a financial production system by 2020.

Application of blockchain in banking industry

For a basic understanding of blockchain technology and operation methods, the real question in your mind may be: Is blockchain really Can the land be applied in the banking industry? If so, how can we best leverage blockchain technology?And, most importantly, will blockchain stay where it is or move forward?

According to a report from Harvard Business School, blockchain is now to the banking industry what the Internet is to the media. Blockchain can solve many problems in the banking and financial industry. Blockchain technology has all the characteristics that reliable technology should have, including financial-related businesses.

Blockchain can provide a high level of security, especially when it comes to exchanging data, information and money. At the same time, this also allows users to take advantage of a transparent network architecture with very low operating costs, and at the same time, get decentralized help. These characteristics will make blockchain a very stable, reliable and popular solution for the banking and financial industry.

If financial institutions want to ensure the safety of funds, they need many intermediaries. Yet these intermediaries make the entire industry more expensive. And, because there are so many people involved in the process, the chances of errors increasing. Blockchain technology can ensure the security of transfers, while also providing users with a better experience and lower costs.

Cases of banks using blockchain technology

Although banks and financial institutions were still skeptical about blockchain technology in the early days, things have changed now. . With the success of blockchain in many fields, the banking industry is looking for new areas and applications of blockchain.

Some large companies, such as JP Morgan, are confident about the future development of blockchain. The U.S. investment bank headquarters has also begun research and implementation of blockchain technology. The Quorum project is an enterprise distributed ledger and smart contract platform that can support fast transfers and throughput to solve problems in the financial industry, banks, etc. According to current news, they have issued annuity certificates with different interest rates based on distributed registries.

In addition to these, major US banks have obtained patent certificates issued by the US Patent Office. The document talks about the deployment of permissioned blockchains to ensure the security of records and to authenticate corporate and personal data.

This system will allow certified members to obtain data and record all individual members. In addition, the system will use blockchain technology to integrate multiple existing data storage platforms. This secure single network will provide overall efficiency while also reducing the number of addresses where user data is stored.

Another institution is Goldman Sachs. Goldman Sachs is also actively integrating into the research of distributed registration technology. In order to serve startups in the blockchain industry and solve the volatility of digital currencies, Goldman Sachs has invested in digital currency projects.

Goldman Sachs aims to become China’sThe leader in Wall Street digital currency. Setting up their own digital currency transactions can help them manage digital transactions well.

Cases of using blockchain technology in finance

As more application cases emerge, blockchain technology has the potential to change the current financial and banking industry. This technology can change the current banking industry through the following points:

Reduce fraud

In any financial-related project, there will be fraud. In addition, from the most basic financial model point of view, security is also the most important. More than 40% of financial entities and intermediaries, such as stock exchanges, suffer significant losses every year due to financial theft incidents.

Centralized database systems are used for financial management and operations. However, centralized databases are easy to be invaded. If there is a problem at a single point, a cyber attack will occur. Once a hacker gains access to such a system, it is easy to steal funds. This will create a need for more secure systems, with adequate security guarantees to prevent such attacks.

Since the blockchain is distributed, there is no single point of destruction. Each transfer stored in the form of blocks will be protected by an encryption mechanism and is difficult to be attacked.

Moreover, all blocks are connected to each other. Due to the mechanism of this connection, if a block is changed, all other blocks on the blockchain will immediately reflect the change. Therefore, this will help track the intrusion while also giving the hacker no chance to make changes to the entire system. With a secure blockchain system, we can prevent cyberattacks and now attacks on the banking and financial industry.

Customer identity verification Banks and financial institutions are very worried about this, so they must perform AML and KYC to reduce losses. All these processes take a lot of time, and all banks and financial institutions need to conduct all verifications independently.

According to investigation reports, this type of process costs between US$6 million and US$50 million every year. Some customer due diligence is to reduce money laundering and attacks. Currently, banks need to upload customers' KYC data to a centralized registration agency, which is used to verify the information of old or new customers.

With the application of the blockchain system, the customer verification of each bank or financial institution can also be used by other banks, and these KYC verifications do not need to be performed multiple times.

In other words, through blockchain technology, a lot of duplication of work can be eliminated. Moreover, in the not-too-distant future, all financial institutions will have access to updated customer information, allowing administrators and regulatory agencies tocost reduction.

Smart Assets

Trade finance becomes difficult when all assets need to be recorded with clear date and time stamps. The global supply chain includes many institutions and individuals, and participants are constantly conducting transactions. The documentation here is more complex. Blockchain can store records of these smart assets in digital form. The smart asset system will not only move items, but also track the trajectory of items.

Intelligent asset tracking systems for banks and financial institutions are also now facing a lot of competition. Banks with rich data can turn this data into customer value through blockchain.

Smart Contracts

The application of smart contracts can prove the importance of the banking and financial industry. Smart contracts are codes that can execute themselves when certain conditions are met.

When using financial transfers, smart contracts are very helpful to increase speed and simplify complex processes. Only when the conditions in the code are met, the contract will be executed and the transfer information will be ensured to be very accurate. And since these terms are visible to everyone, the chance of errors is much reduced.

Trade Finance

Trade finance is considered to be one of the most useful applications of blockchain technology in the banking industry. All parties involved, such as complex transfers, can be recorded on the blockchain network, and traders and banks share this information through a common ledger. Once a certain condition is met, the smart contract will run automatically and relevant parties can see all actions that occur.

According to relevant news, some start-ups have successfully conducted blockchain-based transaction transfers. This process usually takes 7-10 days, but now it only takes 4 hours. Compared with current infrastructure, using blockchain can significantly reduce the generation of certificates, tickets, and other fees.

Why does the banking industry need blockchain?

1. The current banking system is highly dependent on paper documents and current systems. Trustworthy and stable system upgrades are now needed to prevent any fraud and solve expansion and security issues. Blockchain technology and its decentralized nature can give the banking system the high-end technology it is looking for.

2. Banks cannot operate independently, and many transfers now go through intermediaries. Cross-border transfers take 5 days and involve many risks. Through the blockchain system, banks can make transfers very fast without taking any risks. The banks themselves are enough to solve these problems.

3. The world is moving towardsMoving forward digitally. The speed of economic development is also gradually increasing, and there is no doubt that this speed will be faster. Blockchain technology will make small-amount transfers faster, while ensuring lower fees and transfer scalability.

4. In addition to banks, financial service companies are gradually using the latest technology to reform their systems and ensure market security by providing reliable services and lower rates. Banks and other financial institutions should embrace new blockchain technologies to make their ecosystems secure.

There are still many challenges to the integration of blockchain technology

Blockchain technology certainly has its advantages, but it also contains many challenges, especially for the financial and banking industries. of institutions.

Interoperability: Blockchain technology will not be bound by any international regulations, so there are no standards. As large industries, such as banks, increase their interactivity requirements, blockchain needs to be compatible with different systems and be accepted by the public. The integration of existing systems and blockchain is a very big challenge for the current system, because the existing system cannot be completely replaced. If blockchain technology can enable multiple systems to work perfectly together, then operational feasibility will be fully met.

Privacy: The endorsement of banks and financial institutions is the trust people place in depositing funds into them. If you want blockchain to replace them, it is important to ensure that the data stored in the blockchain is stored securely and does not change anyone's identity. Since transfer information is conducted publicly on the blockchain, private chains also need to be studied, which will also help solve interactivity issues.

Encryption: Private keys are a necessary element of the blockchain system because they play a very important role in ensuring personal data on the blockchain. However, once the private key is obtained, it must be stored very securely because if lost, there is no way to get it back. Moreover, there are loopholes in the encryption method used to store data, which also makes the blockchain easily vulnerable to hackers.

Security: The blockchain network is safe and reliable because it incorporates encryption technology. In order to prevent hacker attacks, any encryption performance in this type of system requires a lot of computing power. . When a blockchain network is used in any banking institution, it must be encrypted through multiple security protocols. The network needs to have enough computing power to prevent anyone from taking control except under specific access permissions. Depending on these requirements, such systems or institutions integrated into blockchain can be permissioned or permissionless. People within these organizations need to be able to handle different levels of access permissions to save the entire network from fraud and cyber attackers.

Scalability: The growth of existing data is undeniable.As the population grows, so does the size of the database. This will bring great challenges to the application of blockchain. Networks created through blockchain should be able to handle increasing traffic while also maintaining the speed of network participants. If blockchain technology can be applied to current banking systems and institutions, it must be able to guarantee the ability to handle these data flows.

Energy consumption: Most blockchain networks are based on a proof-of-work mechanism, where network participants are rewarded based on how quickly they solve problems, which is also based on how quickly they solve problems. This puts new blocks into the network. This allows the entire network to operate stably while also increasing energy consumption. This type of computing power consumes a lot of electricity and has an impact on the environment. These issues need to be addressed through other incentive mechanisms before blockchain technology can be embraced.

Legal supervision: If blockchain is applied to the banking industry, international regulatory regulations are very necessary. Now, as the most popular application of blockchain, digital currency has no regulatory regulations, which has pros and cons. However, if blockchain is applied in the banking and financial industry, then regulation will be needed to prevent people from causing trouble due to losses.

Conclusion

Although regulations are very strict for the banking industry, financial institutions have also begun their journey to adopt blockchain technology as a solution. Banking giants have begun testing to find potential uses for decentralized technology.

Institutions are investing heavily in research into blockchain solutions. By allowing blockchain to enter the current industry, many problems will be solved. Because this technology makes the system more transparent, reliable, and easy to use.

『九』 What is blockchain technology and how it changes business and financial models

Blockchain technology is a distributed ledger technology. It 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", that is, when certain conditions are metAutomatically perform corresponding operations when conditions are set. 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

『Shi』 Application of blockchain in the financial field

1. Application and development of blockchain

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

2. Testing area for domestic financial institutions Blockchain

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

3. Panoramic view of blockchain application in the financial field

4. Ghostwriting

5. Digital bills

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

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

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

6.