区块链杠杆怎么玩,区块链杠杆是什么意思

区块链杠杆是一种金融服务，它允许投资者以较少的资金来投资于大量的资产，从而获得较大的收益。杠杆投资是一种投资策略，它允许投资者以较少的资金来投资于大量的资产，从而获得较大的收益。

区块链杠杆交易是指投资者以少量资金来投资于更多的资产，从而获得更大的收益。这种投资策略的优势在于，投资者可以以较少的资金来投资于更多的资产，从而获得较大的收益。

区块链杠杆交易的另一个优势是，它能够提高投资者的投资能力。投资者可以以较少的资金来投资于更多的资产，从而获得更大的收益。此外，由于杠杆交易的风险较小，投资者可以得到更多的收益。

因此，区块链杠杆交易是一种非常有效的投资策略，它可以帮助投资者以较少的资金来投资于更多的资产，从而获得较大的收益。此外，由于杠杆交易的风险较小，投资者可以得到更多的收益。

今天，我们将为您介绍三个与区块链杠杆有关的关键词：

首先，我们来谈谈杠杆比率。杠杆比率是指投资者可以以较少的资金来投资于更多的资产，从而获得较大的收益。杠杆比率的计算方法是：投资者可以以自己的资金乘以杠杆比率，从而获得更多的收益。

其次，我们来谈谈仓位管理。仓位管理是一种投资策略，它指的是投资者在投资时要采取的行动。仓位管理的目的是确保投资者的投资风险被有效控制，从而获得更好的收益。

最后，我们来谈谈保证金交易。保证金交易是一种金融服务，它允许投资者以较少的资金来投资于大量的资产，从而获得较大的收益。保证金交易的优势在于，投资者可以以较少的资金来投资于更多的资产，从而获得较大的收益。

以上就是有关区块链杠杆的三个关键词：杠杆比率、仓位管理和保证金交易。投资者可以利用这些关键词来帮助自己投资，从而获得更好的收益。

请查看相关英文文档

Ⅰ How to deepen the supply-side structural reform

To deepen the supply-side structural reform and build a modern economic system, we must focus on the real economy and focus on the real economy. Taking improving the quality of the supply system as the main direction will significantly enhance my country's economic quality advantage.

Accelerate the construction of a manufacturing power, accelerate the development of advanced manufacturing, promote the deep integration of the Internet, big data, artificial intelligence and the real economy, and promote the development of mid-to-high-end consumption, innovation leadership, green and low-carbon, sharing economy, and modern supply chain , human capital services and other fields to cultivate new growth points and form new momentum.

Support the optimization and upgrading of traditional industries, accelerate the development of modern service industries, and aim at improving international standards. Promote our country's industries to move towards the mid-to-high end of the global value chain and cultivate a number of world-class advanced manufacturing clusters. Strengthen the construction of infrastructure networks such as water conservancy, railways, highways, water transportation, aviation, pipelines, power grids, information, and logistics.

Insist on cutting overcapacity, destocking, deleveraging, reducing costs, making up for shortcomings, optimizing the allocation of existing resources, expanding high-quality incremental supply, and achieving a dynamic balance between supply and demand. Stimulate and protect the entrepreneurial spirit and encourage more social entities to engage in innovation and entrepreneurship. Build an army of knowledge-based, skilled and innovative workers, promote the spirit of model workers and craftsmanship, and create a social trend of glorious labor and a professional atmosphere of excellence.

Methods to deepen supply-side structural reforms in various fields:

1. In the manufacturing field, “zombie companies” occupy a large amount of credit resources. New loans should be used to increase GDP, the disposal of "zombie companies" should be promoted in an orderly manner, and the rational allocation of resources should be optimized.

2. In terms of agricultural supply-side reform, we can no longer simply restore pig production according to the past model, because the reasons for the reduction in pig production are complex. In the future, a large-scale, green and circular pig-raising model should be promoted.

3. In the production field, due to the development and use of cloud computing, big data, blockchain and other technologies, the resource allocation in the production field is more reasonable and efficient. The application of high and new technologies has brought new results to the supply-side structural reform.

II The current trade finance cycle is 87 days

Yes, blockchain can significantly shorten the cycle.
Extended information:
1. China is currently at the top of the financial cycle, with financial deleveraging, strengthening supervision, tightening social financing, a decline in the growth rate of broad money supply, and a shift in monetary policy from actual tightening to neutral but not Not fully relaxed.
2. While deleveraging, channels, and chains have achieved positive results, corporate credit risks have begun to be exposed, and the most difficult period of the financial cycle may yet to come. The twin pillars of monetary policy and macro-prudential policy focus on inflation and financial stability respectively.
3. Trade finance emerged along with the development of trade. The origin of trade finance can be traced back to the 13th century or even the initial commodity exchange period. Its initial business was only to provide exchange and payment for the trading activities of traders from various countries, and then gradually expanded to trade-related financing and cash flow management.wait. The trade services provided by advance banks to enterprises mainly focus on traditional settlement methods such as remittances, letters of credit and collections, and the form of trade financing is mainly the most basic bill advance.
4. Since the second half of the 20th century, driven by the information technology revolution, the world's division of labor model has undergone profound changes. Trade finance has entered the stage of comprehensive financial services from providing basic services such as trade settlement and financing.
5. Trade finance is a comprehensive financial service that runs through the entire value chain of trade activities provided by banks for domestic or cross-border trade in goods and services based on the creditor and debt relationships between trading parties. It includes basic services such as trade settlement and trade financing, as well as value-added services such as credit guarantee, value preservation and hedging, and financial management.
6. Specifically, first, trade settlement is still the most basic trade finance business, which facilitates corporate transactions and reduces costs. Providing domestic and cross-border transaction settlement for enterprises is still the starting point and one of the most important contents of bank trade financial services. Such services allow companies in two completely unfamiliar countries and regions to develop into counterparties through the intermediary role of banks. Second, trade finance is the core of trade finance. Trade finance always goes hand in hand with trade, providing financial support to all parties involved in trade activities.
7. In the trade process, trade finance plays the role of lubricant and catalyst. In recent years, in response to the new characteristics of international trade development, commercial banks have developed, innovated, and promoted many new trade financing products, including forfaiting, factoring, accounts receivable pledge financing, credit insurance financing, order financing, and cargo pledge. Financing, risk participation, trade finance and capital product portfolio, etc. These new trade finance products not only promote changes in bank service capabilities and internal risk control methods, but also help enterprises reduce costs, reduce inventories, expand sales, and speed up capital turnover, providing strong support for the development of the world economy and trade.

Ⅲ The purpose of the central bank’s research and issuance of digital currency: to enhance the control of the money market

The central bank’s focus on digital currency does not come from Bitcoin. Bitcoin has a negative impact on the central bank and legal tender. Does not pose any threat. Strengthening the control of the money market may be the core reason why the central bank studies and issues legal digital currency. Many people have misunderstandings about digital currency, thinking that digital currency is the digitization of currency. In fact, it’s completely wrong. Today’s legal tender has basically achieved currency digitization. More importantly, it is precisely because of the digitization of currency that the central bank’s control over digital currency has been taken away by commercial banks. Today, central banks are concerned about whether digital currencies can allow them to regain control of their currencies.

Because there is a fundamental difference in the nature of claims between currency digitization and digital currency: currency digitization is M2, a liability of commercial banks; digital currency is MO, a liability of the central bank. This change in the nature of claims will have a great impact on the structure of the money market and currency control. Technology is the fundamental driving force for all these changes. The underlying technology for currency digitization is computers and the Internet, while digital currency is blockchain.

In the computer age, commercial banks bring M2 to control monetary creativity

Currency digitization is a change brought about by the information technology revolution after 1970. Before this, banks did not have computer systems or network systems, and ATM machines did not appear in banks 24 hours a day. Banks relied on manual settlement. It was inconvenient for users to store, withdraw, transfer and remit money. Many people and companies had large amounts of cash in case of emergencies. needs. In the currency market at that time, the proportions of M0 and M1 were larger than they are now, while M2 was much smaller.

The purpose of the central bank’s research and issuance of digital currency: to enhance the control of the money market

However, after the emergence of computers and the Internet, the bank’s clearing and settlement system has brought fundamental changes to the currency structure. Sexual changes. Banks can realize fast storage, borrowing, withdrawal, and transfer remittances. Users deposit large amounts of cash into banks, resulting in a substantial reduction in cash in the market and a large increase in deposits. This change leads to three results: First, the nature of claims has fundamentally changed. The cash held by users is the debt of the central bank and falls under the MO category. If it is deposited in a commercial bank, it is the debt of the bank and falls under the M2 category. Second, the money creation capacity of commercial banks has been greatly increased. The proportion of M2 and money multiplier have increased, and the debts and assets of banks have increased significantly. On the one hand, commercial banks absorb more deposits (debts) and also lend more loans (assets) from a profit perspective; on the other hand, due to the emergence of computers, banks can control risks more accurately, expand their balance sheets, and continuously Take in more deposits and release more loans. Third, the control power of commercial banks has increased, the control power of the central bank has weakened, the market leverage ratio has increased significantly, and debt has expanded massively.

There is also a significant change in the field of investment banking. In 1971, the U.S. dollar was decoupled from gold, and major countries in the world began to implement floating exchange rates. Under floating exchange rates, exchange rates and interest rates fluctuate greatly, creating room for speculation and arbitrage. The arbitrage space has induced various financial innovations, including options, futures, trusts, various funds and derivatives, and investment banks have emerged based on this. The emergence of the Internet and computers has greatly enhanced the risk control capabilities of investment banks and also encouraged their rapid expansion. High returns have prompted more funds to flow from commercial banks to investment banks, and commercial banks have resorted to "shadow banking" to transfer money to investment banking due to pressure on profitability. It can be seen that after the advent of computers and the implementation of floating exchange rates, the central bank's control over currency was weakened by commercial banks and investment banks. Although the United States implemented separate management of banks at that time and supervised the expansion of commercial bank balance sheets, commercial banks circumvented the Federal Reserve's supervision by expanding off-balance sheet businesses. This period of history seems familiar, and it is happening in China today.

In the era of blockchain, can the central bank regain control through the digital currency M0?

Recently, the central bank of China has been a bit deleveraging.Tired, the Ministry of Finance and the Ministry of Finance started to "fight" each other. There are many problems reflected here. The central bank is indeed relatively passive in deleveraging. Commercial banks have experienced asset mismatches, surges in off-balance sheet business, and increased leverage ratios in front of local governments, local financing platforms, and state-owned enterprises. This greatly weakens the central bank's monetary control capabilities and the regulatory effect of monetary tools.

The emergence of digital currency may be similar to digital monetization, changing the structure of the money market and enhancing the central bank’s monetary control. Although cash has been basically eliminated in the digital currency era, MO has returned. Digital currency, like cash, is MO and is a liability of the central bank. According to the information disclosed by Dr. Yao Qian of the People's Bank of China, the central bank's digital currency plans to adopt a "two-tier structure", that is, a bank account plus a digital currency wallet account. Digital currency wallet accounts are actually personal "wallets" mapped to the commercial banking system and belong to the M0 category. The funds in the bank account system belong to the M2 category.

We can speculate that if the central bank issues digital currency according to a two-layer price design, what impact will it have on the currency market? First, digital currencies in “private wallets” return to the category of MO like cash. Users master their own keys and store cash in their private wallets without worrying that commercial banks will take away the money. Secondly, if digital currency adopts blockchain technology, it will promote the "disintermediation" of commercial banks, and commercial banks' funds may flow out again, more to investment banks and other newly derived financial institutions. In this way, the money creation ability of commercial banks is compressed, and the proportion of M2 may be reduced. Third, the central bank’s ability to control currency has been enhanced.

The purpose of the central bank’s research and issuance of digital currency: to enhance the control of the money market

Currently, the currency issued by the central bank circulates freely in society. How do you get back in the end? One is the withdrawal of the currency derived from commercial banks, and the other is the withdrawal of the central bank's base currency. The former can be controlled by the central bank through deposit reserves, interest rates and other policies, while the latter is accomplished by the tax system and open market operations.

However, after the issuance of digital currency, the proportion of base currency controlled by the central bank increases, and M2 may decline, which increases the central bank’s control chips. However, Japanese professor Kuroda Akinobu’s research in “The World History of Monetary Systems” found that after a large amount of cash flowed into the market, the authorities were almost unable to recover it, and the cash seemed to have “sunk”. Digital currency belongs to MO just like cash. Is it easy for the central bank to control and recycle it?

Ao Meng, chief architect of Tencent Cloud Blockchain, believes that programmable currency can greatly strengthen the central bank’s control over digital currencies. Dr. Ao Meng believes: "Through programming, the central bank can control the entire life cycle of currency - creation, circulation, and withdrawal." How do you understand? For computers, there is a certain self-control function inside it. Taking early object-oriented languages ​​as an example, it is necessary toFind at least two functions, one is a constructor and one is a destructor. You have to solve both the problem of its creation and the problem of its demise. If we move to programmable digital currencies in the future, the central bank will have much greater control. Control can be added even at the circulation level. This is why central banks in various countries are very interested in blockchain technology.

If the central bank’s digital currency can improve the central bank’s control over currency, then the excessive expansion of commercial banks’ balance sheets and off-balance sheet businesses, excessive leverage ratios, and debt ratios caused by the rise of computers and digital monetization will Higher-level problems may be alleviated. The central bank has stronger monetary control. If it controls the money market scientifically and properly, it should be able to better prevent and alleviate financial crises.

Technology promotes change. The emergence of computer technology has led to a large amount of cash entering the commercial banking system, the transfer of monetary claims, and changes in the structure of the money market. The central bank's liability M0 is reduced, and its control over the money market is weakened. Commercial banks create a large amount of M2 through money multipliers, and their balance sheets expand on a large scale. At the same time, they cause problems such as induced inflation and high debt. The emergence of blockchain technology also triggers changes in currency claims, currency market structure and currency control rights. The central bank can issue digital currency, or facilitate the transfer of currency from cash and banking systems into digital currency wallet accounts. The central bank can regain control of MO and currency, and commercial banks' ability to create M2 is weakened.

Enhancing monetary control should be the main motivation for the central bank to research and issue legal digital currency. The real problem is how to resolve the contradiction between the central bank's demand for currency control and the decentralization of the blockchain, how to combine the advanced anti-money laundering, taxation and other laws, balance the interests of all parties, and formulate a management mechanism for the central bank's digital currency.

IV Bitcoin plummeted again, diving 10,000 US dollars in one hour. What caused it?

You can understand that this is a deleveraging operation.

As for the entire virtual currency market, because virtual currencies are not subject to any supervision, when the market prices surge and plummet, this itself is a manifestation of capital control. For this concept of capital, capital does not refer to a single or individual capital, but to the common decision made by a collection of capitals. In other words, this is the current market consensus.

1. Bitcoin has plummeted again.

After the last plunge, Bitcoin dropped to a minimum of around $29,000. In the long period of time since then, the entire virtual currency market has been moving sideways. Since July, due to the upgrade of Ethereum's 1559 protocol, many people believe that Ethereum has revived the entire bull market of virtual currencies, and Bitcoin has also directly rushed to around US$52,000. After rising sharply for a period of time, Bitcoin plummeted again, touching $42,000 within an hour.Yuan or so.

IV Blockchain + Supply Chain Finance

Supply chain finance is a type of financing in which banks connect core enterprises with upstream and downstream enterprises to provide flexible financial products and services. model. Financing services for upstream and downstream supply chain finance usually focus on core enterprises.

Since core enterprises usually have strict requirements on upstream and downstream suppliers and dealers in terms of pricing and account terms, small and medium-sized enterprises in the supply chain often experience financial constraints and liquidity difficulties. To solve the problem of capital circulation difficulties for small, medium and micro enterprises, risk control is the biggest problem for Internet supply chain financial platforms. This also leads to the fact that among the four financing types: accounts receivable, prepayment, inventory financing and credit loans, accounts receivable has the largest scale.

The core pain points of traditional supply chain finance:

The accounts payable assets of core enterprises cannot be transferred step by step, and the factoring business cannot run through the entire supply chain. The financial needs of second- and third-tier suppliers cannot be met, leading to product quality problems.

The use of commercial bills is subject to the credibility of the company, and it is difficult to control the arrival time of discounts; the settlement agreement between suppliers lacks a systematic automatic triggering mechanism; supply chain finance involves multiple links In business, there is a lack of credible technical means to guarantee payment.

Financial institutions have high operational and risk costs in terms of trade background verification, reliable pledge, and payment control, and it is difficult for enterprises or platforms in the trade chain to self-certify. Financial institutions carry out supply chain finance. The costs, risks and benefits of business are more difficult to balance.

According to iResearch's latest "2018 China Supply Chain Finance Industry Research Report": In my country, the accounts receivable of industrial enterprises have reached a certain size, laying the foundation for carrying out corresponding supply chain financing. foundation. However, the scale of supply chain financing is far smaller than that of basic accounts receivable financing.

According to surveys, the loan demand index of small and medium-sized enterprises continues to be greater than 50%, indicating that corporate financing needs continue to exist.

Blockchain technology is a distributed ledger technology with technical characteristics such as decentralization, non-tampering, high security and smart contracts. It ensures the integrity and reliability of information and can effectively solve the transaction process. issues of trust and security.

1) Core enterprises confirm the rights to assets on the blockchain, including verification and confirmation of the authenticity and validity of debt certificates. The non-tamperable nature of the blockchain ensures that the creditor's rights certificate itself cannot be forged, proving the true validity of the circulation of the creditor's rights certificate. It can be split and transferred step by step to achieve credit penetration of core enterprises, thus solving the problem of financing difficulties for supplier companies on the chain. .

2) All data on the chain can be traced back to the source, saving financial institutions a large amount of offline due diligence and manpower and material costs to verify the authenticity of transaction information, providing a platform for banks or Internet financial institutions.Supplement the organization’s risk control system. Relying on the credit transfer of core enterprises, suppliers can enjoy faster and more efficient financing services, effectively solving the problem of difficult and expensive financing.

3) In this trustful ecosystem, the credit of core enterprises can be converted into online digital warrants, preventing performance risks through smart contracts, allowing credit to be effectively transmitted along the supply chain, reducing cooperation costs, and improving Performance efficiency. More importantly, when digital warrants can be anchored on the chain, smart contracts can also be used to split and transfer funds from upstream and downstream enterprises, greatly increasing the speed of funds and realizing automatic liquidation.

At present, many domestic companies have started using blockchain technology to lay out the supply chain financial market. We selected the following four competing products for analysis and research, and analyzed the solutions of blockchain + supply chain finance.

Product introduction:

Micro Enterprise Chain uses accounts receivable from core enterprises as the underlying assets, and uses Tencent blockchain technology to realize the transfer and split of debt certificates.

Among them, when the original assets are registered on the chain, the supplier's accounts receivable are reviewed and verified to confirm the authenticity and validity of the trade relationship to ensure the authenticity and credibility of the assets on the chain. Debt certificates can be split and transferred layer by layer based on the supply chain. Each layer of transfer can completely trace the original assets registered on the chain to achieve credit penetration of core enterprises to multi-level suppliers.

Business process:

Risk control:

Product experience:

There is no specific operation interface to experience the Micro Enterprise Chain. The supplier registration portal is a mini program. The official website of Micro Enterprise Chain/Lianyirong only has a "Contact Us" entrance. It is speculated that the platform is not open to the outside world, and you need to be a target cooperation customer before you can cooperate.

The current operating model of Micro Enterprise Chain is mainly to cooperate with Lianyi Fusion to issue ABS/ABN, and suppliers issue assets and apply for financing on the platform. This model greatly reduces the financing costs of the entire industry chain.

Product introduction:

Yunxin is the corporate credit circulated on the China Enterprise Cloud Chain platform. It is an innovative financial information service that is transformed by large enterprise groups through the China Enterprise Cloud Chain platform into high-quality corporate credit that can be transferred, financed, and flexibly configured.

Business process:

Risk control:

Product experience:

Please refer to the public account tweet "Cloud Chain Finance-User Operations" Manual》

The publicity of China Enterprise Cloud Chain mainly focuses on the carrier of Yunxin, Yunxin = cash (split at will)) + Commercial Invoice (absolutely free) + Bank Invoice (high reliability) + Easy traceability, the advantages of "Yunxin" as a new type of electronic settlement tool are well extracted. At the same time, the concept of blockchain is borrowed to prove the non-tamperability and traceability of data.

Judging from the dynamics of China Enterprise Cloud Chain’s WeChat public account, Yunxin is currently being promoted on a large scale across the country. According to Liu Jiang, chairman of China Enterprise Cloud Chain, there is currently a local promotion team of 200 people, and it will be deployed to 500 people next year. It is estimated that there are approximately 5,000 core enterprises in the country that are worthy of supply chain finance. If one person contacts ten enterprises and 500 people seize these 5,000 core enterprises, the entire supply chain finance in China can basically be covered. Details Click to view.

Product introduction:

After China Construction Group suppliers complete the bidding, signing, order and other procurement processes on the China Construction E-commerce "Yunzhu.com" platform, they can synchronize their supply and sales data Save the certificate to the collaboration platform.

When a supplier needs to finance accounts receivable, it submits a financing application to the bank on the collaboration platform, and the smart contract automatically links the certificate information to provide financing banks with complete and reliable loan review information. After the financing review is passed, the bank will reply to the supplier on the loan information chain. After the financing expires, the supplier completes the financing repayment process through the collaboration platform.

Business process:

Risk control:

Product experience:

Please refer to the article "Working together to "build" the blockchain architecture Industry New Model"

This product is different from the above-mentioned products. The core enterprises it cooperates with currently only target bureau companies and subsidiaries directly under China Construction Group, and its financing services only serve direct trade transactions with core enterprises. As a first-tier supplier, the business model uses on-chain data as evidence for financing materials. At the same time, the blockchain ensures that data is non-repudiable and difficult to tamper with, reducing financing risks.

Product introduction:

Apply blockchain technology to innovatively develop an accounts receivable chain platform to transform corporate accounts receivable into electronic payment settlement and financing tools.

Business process:

Risk control:

Product experience:

Zheshang Bank is based on Hyperchain, the underlying blockchain platform of Qulian Technology The developed “receivables chain platform” was launched. The platform is an innovative financial technology product that uses blockchain technology to convert corporate accounts receivable into online payment and financing tools to help companies deleverage and reduce costs. It is specially used to handle the issuance, acceptance, confirmation, payment, transfer, pledge and redemption of corporate accounts receivable.

HereHere, we use the business canvas to comprehensively analyze the commercialization models of competing products.

The business models and business processes of blockchain + supply chain finance products are actually very similar and easy to imitate.

In addition to the ones mentioned in this article, there are also Bubi Blockchain, Qulian Businessman/Ximei Chain, etc., but to become bigger and stronger, you need to fight for resources. This business model is destined to be led by the core enterprise with the highest bargaining power. So how many core enterprise resources you can introduce and whether the core enterprise is large enough depends on the business capabilities of your platform.

The main purpose of doing this competitive product analysis is to study the business model and commercial operations. In fact, the water is still very deep. It is not just a flow chart + capital flow or something to copy others. business model.