区块链对我国金融系统的影响有哪些,区块链对我国金融系统的影响论文

❶ Application of blockchain technology in the financial field

There are many applications of blockchain technology in the financial field. Here are a few examples:
Chinese People The bank launched a trade finance blockchain platform: it widely connects information from taxation, customs, foreign exchange and other departments to effectively increase the credit of small and medium-sized enterprises in financing.
Guangdong has released the country’s first local financial off-site supervision blockchain system: effectively solving the pain points of information asymmetry and unreliability between financial institutions and regulators in traditional supervision methods.
State Grid’s supply chain financial data sharing platform based on data side chain: Provides conditional and trustworthy sharing services of supply chain financial data under privacy protection, helping small and medium-sized suppliers in the chain to revitalize accounts receivable and reduce financing costs. Increase the financial income of financial institutions.
In addition to these, there are other applications. Crypto Finance mimacaijing focuses on blockchain information.

❷ What impact will the rise of blockchain have on the future of finance

On August 6, 2018, Mr. Cai Yi, financial industry consultant to Huawei and founder and CEO of Huaxuan Technology Made a special sharing at DAGA | Blockchain & AI (Core Group), with the theme: Current Situation and Prospects of Blockchain Finance. The following text is organized based on the audio of the lecture and has been reviewed by the author.

Cai Yi: Financial industry consultant of Huawei, founder and CEO of Huaxuan Technology, founder of the shared reading club, member of the Chinese Writers Association, has been engaged in financial technology research for more than ten years, and is a senior expert in the digital transformation of banks .

Good evening everyone, I am very happy and honored to be able to share some thoughts with you here.

Let me introduce myself briefly: My name is Cai Yi. I was a writer in my youth. I wrote some books, magazines and novels in the 1990s. There was no Internet at that time. Since then, I have been engaged in informatization work in the financial industry. From financial channels to data centers, from outlets to technology, I have witnessed the development of financial technology and discovered some problems. He has been an investment partner since 2014, and has also worked as a financial industry consultant for Huawei in recent years. From a cognitive perspective, he serves as a consultant for talent development in the digital transformation of the financial industry.

I came into contact with blockchain in 2015, when I founded Huaxuan Technology and Shared Reading Club. At present, we mainly focus on the understanding of blockchain and the implementation of financial technology solutions. At the cognitive level, book clubs are used for interactive sharing and knowledge management. At the technical level, blockchain, big data, AI and other technologies are combined to reshape the processes and scenarios of the financial industry, starting from a local perspective. My relationship with blockchain stems from my own interest in blockchain, which I often study and discuss with some friends. Of course, some of the views are still relatively superficial. I hope everyone can share their opinions and make more comments and corrections.

Elite think tanks in the United States once believed that the core of maintaining global leadership is technology, technology must rely on the economy, and the core of the economy is finance. So, what is the future of finance?

Today’s topicYes: Current status and prospects of blockchain finance. I would like to introduce it mainly from three aspects:

A brief introduction to finance and the financial system;

The current situation of blockchain finance;

The outlook for blockchain finance .

1. Finance and financial system

1 The concept of finance

First of all, let’s talk about the concept of finance. The word “finance” originated from the Meiji Restoration (1868 Japan after 1897, this is somewhat related to the gold standard established by Japan in 1897. It was introduced to China from Japan in the early 20th century and was first proposed by Finance Minister Liang Qichao in 1902. At that time, Zhang Zhidong raised objections. Therefore, China has remained on the silver standard after the Sino-Japanese War of 1884-1899, but this also allowed China to avoid the 1929 decade of the Great Depression.

The original meaning of finance is "money financing", which refers to the circulation of funds in society. Later, its meaning was expanded to indicate transactions and economic activities related to currency and credit. There is actually another reason why it is translated as "finance": gold was once the only medium in international trade, and value and wealth were based on gold as the basis and standard. Therefore, when people make standard gold bars, they need to melt the gold into shape. This may be the original meaning of the word "finance", which is to melt the metal.

Finance is the general term for currency circulation and credit activities and the economic activities associated with them

Let’s take a look at our later definition of finance: Finance is the currency circulation and credit activities and the economic activities related to them. A general term for the economic activities related to it. Finance in the broad sense refers to all economic activities related to the issuance, custody, exchange, settlement and financing of credit currency, even including the purchase and sale of gold and silver. Finance in the narrow sense refers specifically to the financing of credit currency.

To put it simply, the content of finance can be summarized as the issuance and withdrawal of currency, the absorption and payment of deposits, the issuance and recovery of loans, the purchase and sale of gold, silver and foreign exchange, the issuance and transfer of securities, Insurance, trust, domestic and international currency settlement, etc. To put it more bluntly, finance feeds back in both directions. The institutions engaged in financial activities mainly include banks, insurance, securities, trusts, financial leasing, etc. We all know this quite well and have frequent contact with it. Therefore, after understanding the meaning and institutions of finance, you also need to understand China’s financial system.

2 China’s financial system

The development stage of my country’s financial system can be roughly divided into five stages:

Initial formation stage, the first five years ( 1948-1953): The People's Bank of China was established (1948). The People's Bank of China at that time was far from what we imagine now. But it marked the beginning of the new Chinese financial institution system.

The "grand unification" system in which the central bank unified revenue and expenditure, the second five years (1953-1978): the People's Bank of China was the only financial institution in the country to handle various banking businesses, integrating the central bank Integrated with ordinary banks. In fact, the great unification is that we copy the foreign model. I will not talk about the specific countries.

Initial reforms and breakthroughs in the "unified" financial institution system, the third five-year period (1979 ~ August 1983): The Bank of China (established in 1912), the Agricultural Bank of China (established in 1951), and the China Construction Bank (established in 1954) were restored or established one after another, but the People's Bank of China still focused on currency issuance and credit. All in one. We have seen that China’s financial industry has developed very rapidly after reform and opening up.

The diversified financial institution system began to take shape. In ten years (September 1983 to 1993): it formed with the People's Bank of China as the core and four major majors in industry, agriculture, China and construction. A system of financial institutions with banks as the main body and various other financial institutions coexisting and cooperating with each other. After 1987, Bank of Communications, China Merchants Bank, Shenzhen Development Bank, CITIC and Hengfeng emerged one after another. In 1988, Ping An, Guangfa and Xingye emerged. In 1992, Everbright, Huaxia and Pudong Development Bank emerged and the China Securities Regulatory Commission was established in the same year.

The stage of building and improving the social market financial institution system (1994 to present): It has formed a system led by "one bank and three committees", with large, medium and small commercial banks as the main body, and a variety of non-bank financial institutions. A relatively complete financial institution system as an auxiliary wing. In 1994, three major policy banks (China Development Bank, Export-Import Bank of China, and Agricultural Development Bank of China) were established. In 1995, Minsheng Bank, the first private commercial bank, was established (this is of great significance). In 1998, city commercial banks appeared. and established the China Insurance Regulatory Commission. The China Banking Regulatory Commission actually appeared relatively late, and was only established in 2003. From then on, the pattern of one bank and three conferences was formed. However, not long ago, the China Banking Regulatory Commission and the China Insurance Regulatory Commission merged to form the China Banking and Insurance Regulatory Commission. You can pay attention to it.

From an evolutionary perspective, normative research in finance is often linear.

That is, we often use a certain evolutionary form as the standard (usually a developed market economic system, such as the Soviet Union, Germany, the United States, and even Japan, etc.) to describe the financial system from non-marketization to marketization, from financial The path to progress from inefficient allocation of resources to efficient allocation, and focusing on explaining the GAP and reasons for this standard form.

In fact, we can find from the development history of China’s financial system just now: Since 1978, China’s financial system has evolved in the direction of marketization, standardization, diversification, and internationalization. Both scale and complexity are rising rapidly and non-linearly:

Various financial institutions have shown a "networked" and "strongly related" business format, that is: today's banks and banks, banks The correlation with other financial institutions and various financial sub-markets has increased significantly, and credit connections have become increasingly tight, intertwined, and intricate.

The ecological environment of the financial industry has also seen some significant changes. On the one hand, traditional formal financial institutions seek to accelerate transformation and innovation, and strive to seize opportunities in innovations such as business strategies, market positioning, management structures, business formats, and products. On the other hand, various emerging financial institutions have emerged in large numbers.

The financial industry also presents new characteristics such as real estate financialization, "banking" of non-bank institutions, and asset securitization.

The above changes are beyond the common imagination of the industry, regulators and policymakers, and will bring a series of impacts:

On the positive side, the scale and composition of the financial system have expanded. Institutional business expansion and financial service capabilities have been improved, the financial market has developed, and innovative payments have developed rapidly. This is the case with financial technology, which we will talk about later.

To use a popular saying, there are all kinds of birds in the forest. Then, the negative aspects are mainly reflected in the following aspects:

The interactive relationship between the financial system and the real economy tends to be complicated, and the role of the financial system in spawning and amplifying asset bubbles has been underestimated.

The network and strong connections of the financial system have widened the gap between the financial industry and financial supervision, weakening the effectiveness of traditional supervision. my country's current financial regulatory system has only been in operation for more than ten years.

The paths and mechanisms through which monetary policy is transmitted through the financial system have changed (the transmission chain of monetary policy has been lengthened or deformed, and its conductivity and effectiveness have declined), and the initiative and effectiveness of regulation are facing new constraints. The current monetary policy framework has been continuously improved in response to economic and financial market developments since its establishment in 1996. However, the complexity of the financial system in recent years has posed new challenges to it. Broad money M2 has also been impacted by factors such as financial deepening and electronic payments, and has been further weakened by the shadow banking system.

Various cross-market, cross-business, and cross-border behaviors that avoid supervision make multiple risk factors intertwined, such as: capital pool operations with serious mismatches in terms of terms and products hide greater liquidity risks, product Nesting leads to risk transmission, insufficient shadow banking supervision, local debt, real estate, external shocks, etc., which all pose great challenges to the stability of the financial system.

There is no harm without comparison. my country's financial system as a whole is still relatively backward. This backwardness is mainly reflected in the lag in banking innovation: the People's Bank of China announced the cancellation of "interest spread protection" in October 2015, while the United States had completely marketized interest rates as early as April 1986, and China was nearly 30 years late.

3 The institutional framework and basic issues of China’s financial system

Of course, my country’s current financial system is based on three basic institutional frameworks:

The first is to rely on business trust existing in legal provisions, that is, policy guidance;

The second is to rely on a third party as a credit intermediary to ensure the realization of asset transfer transactions;

The third is to rely on centralized The clearing house is the center and handles the settlement and clearing of completed transactions.

Based on this, four issues have been raised:

1) The issue of integrity system and trust mechanism. Traditional finance must have strict transaction records to accumulate credit. Without transaction records, it is difficult to achieve financing or loans because there is no technical means to ensure the security of transactions between both parties.

2) Transaction settlement takes a long time. Traditional financial transaction times continue to speed up, but settlement times are still relatively long, especially cross-border transactions, which often cannot arrive immediately.

3)The cost of intermediary services is high. The important source of income of the traditional financial transaction system relies on collecting transaction fees or loan interest; in cross-border transactions, costs caused by exchange rate changes have to be paid.

4) Poor security. Traditional finance involves many human steps, which means there is a higher chance of human errors and omissions.

Faced with this series of problems, financial institutions have actually been looking for solutions. When we communicated with ICBC and China Merchants Bank two years ago, they were already exploring big data, artificial intelligence and blockchain. And its crisis awareness is very strong.

4 Financial Technology

As the positive aspects just mentioned, financial institutions have been seeking solutions to financial informatization and financial digitalization.

So, let me mention what is happening in financial technology. Whether it is FinTech proposed by JD.com or TechFin proposed by Ant Financial, I think it is essentially a better combination of technology and finance, just like what we will discuss next is how to better combine finance and blockchain.

Financial Technology 1.0 Era

At this stage, the financial industry and the technology industry exist as parallel industries. The two sides have not yet truly integrated, but technological progress has begun to promote the globalization of the financial market. change. Since World War II, the rapid development of communication technology and information technology has enabled finance to break national boundaries, and the cross-border investment of financial institutions has also greatly accelerated. The main providers of financial services in this era were banks.

Financial Technology 2.0 Era

Technology is promoting finance and strengthening the trend of globalization, making financial services more and more digital. The financial industry realizes the electronicization and automation of offices and business through the application of traditional IT software and hardware, thereby improving business efficiency. During this period, financial institutions have significantly increased the adoption of IT technology in internal operations and have successfully implemented paperless offices in many processes. Core systems, credit systems, clearing systems, etc. that are often discussed in banks and other institutions are representatives of this stage.

Financial Technology 3.0 Era

In the Internet financial stage, the main force of financial technology at this stage is entrepreneurial enterprises of non-financial institutions, relying on Internet technology and information and communication technology to provide financial services or Cooperate with financial institutions to launch financial services. The financial industry builds online business platforms and uses the Internet or mobile terminal channels to bring together massive users and information to realize the interconnection and interoperability of any combination of the asset side, transaction side, payment side, and capital side in financial business. This is essentially a change from the traditional The transformation of financial channels enables information sharing and business integration.

Fintech 4.0 Era

The financial industry uses new IT technologies such as big data, cloud computing, artificial intelligence, and blockchain to change traditional financial information collection sources and risk pricing models. , investment decision-making process, and the role of credit intermediary, it can greatly improve the efficiency of traditional finance and solve the pain points of traditional finance. The representative technology is big data credit reporting., Intelligent investment advisory.

Having said this, let’s briefly summarize: Finance is the intermediary of credit, and finance provides two-way feedback. We talked about China's financial system and learned that ICBC, China Merchants Bank and Ping An were established at the same time, so we know why ICBC is more active and innovative than the other four major banks. Then we talked about the development of financial technology, which has led to better development of financial technology in information and digitalization.

Excerpts from: Article: Current Situation and Prospects of Blockchain Finance

❸ What are the applications of the hot blockchain technology in the financial system

The imApp2.0 version of the Blockchain Application Center has been officially launched
The imApp2.0 version of the Blockchain Application Center has been officially launched. imApp is the world's first blockchain application store that provides dividends to all people. It aims to create a super entrance to the blockchain industry and make it easier for users to use blockchain applications. The interface of imApp version 2.0 is more concise and beautiful, the function has added news and DAPP, and the content has enriched the guessing game. Users can obtain the IMAPP Ecological Pass IA by browsing, forwarding, downloading, updating, and opening applications through IMAPP. imApp has officially reached a strategic cooperation with the Bitcoin Diamond Foundation. The ecological token IA can be exchanged for Bitcoin Diamond BCD at a certain ratio.

❹ 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, small and micro enterprises, etc. The corporate credit information chain will play a role.

Here is 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 the self-certification of third-party electronic contract platforms, it is more credible and solves the concerns of bank risk control departments 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 electronic contract signingThe compliance and effectiveness of the process also solves the problems of bank cases being scattered across the country, high legal travel costs, long litigation cycles, and no efficient disposal channel.

❺ What are the prospects of blockchain finance?

1. In fact, the combination of blockchain technology and finance is not accidental. Simply put, blockchain is a distributed shared ledger and database, which has the characteristics of decentralization, non-tampering, full traceability, and traceability. Finance is cooperation based on trust, and these characteristics of blockchain lay the foundation for creating trust. Blockchain technology is of great significance in solving problems in the financial field such as high credit risk, low capital utilization efficiency, and high payment processing costs.
2. In reality, Bitcoin is not equal to blockchain. Digital currency is just one of the applications of blockchain technology in the financial field. In the fields of supply chain finance, payment and clearing, trade finance, financial transactions and other fields, "blockchain +" has rich application scenarios and imagination space.
3. Industry insiders pointed out that although the application prospects of blockchain technology are broad, At present, there are only a few projects that have actually been implemented and produced social benefits. Blockchain technology is in the early stage of development and still needs to be viewed rationally. In the next step, blockchain technology should be used to explore digital economic model innovation and add impetus to the optimization of the business environment. , to provide support for promoting high-quality economic development.

❻ What is blockchain technology and how does it affect the financial and monetary system

What is blockchain technology and what does it do? How does it affect the financial and monetary system? "Cratonic Destruction and Terrestrial Biological Evolution" led by Zhou Zhonghe, an academician of the Chinese Academy of Sciences and a researcher at the Institute of Vertebrate Paleontology and Paleoanthropology, Chinese Academy of Sciences, became one of the first three projects to receive this funding in 2016 . He told "China News Weekly" that the project's funding management is relatively loose, but the problem is that this kind of project is too scarce. Although this is a stable support model, it is still essentially a type of competition. Zhuang Ci also believes that the proportion of support for such projects is very small and is still targeted at a very small number of people. At present, the competition has become fierce. "When eating barbecue in Jinzhou, 70% of the people come to drink. Decompress. For example, the guy who came last night showed off eight bottles of Harbin beer over a barbecue. Their children earn more than 2,000 yuan a month, and the better houses are only 7,000 to 8,000 yuan per square meter. Even if the family pays for the down payment, the children have a hard time paying off the mortgage. Not only the parents are worried, but the children themselves are also anxious. "Said Brother Li, who opened Qiechun BBQ restaurant in Jinzhou.

❼ What substantial benefits does blockchain technology have to the financial field?

Blockchain technology is mainly used in the financial field. The advantages of disintermediation and great cost reduction. First of all, the financial industry currently needs to conduct layer-by-layer audits to control financial risks to prevent single points of failure and systemic risks, but this also results in high internal costs. Blockchain technology It can greatly reduce the cost of the entire financial system through tamper-proof and highly transparent methods. There is a lot of blockchain-related information on Lianbo. If you are interested, you can take a look.

❽ Area Why blockchain has been playing a huge role in the financial worldThe role of blockchain

We all know that blockchain is a very important tool in the investment industry. The same investment of 10,000 yuan ten years ago will reap extraordinary returns. But at that time, I bought 10,000 yuan of Kweichow Moutai stock, and now I only hold 150,000 yuan. But if you hold 10,000 yuan in Bitcoin until now, congratulations, you have assets of over 100 million yuan. Why does blockchain always play a huge role in the financial world?

To prevent single points of failure and systemic risks, the financial industry needs to conduct audits to control financial risks. And the current regulatory intensity is gradually increasing, especially the previous financial crisis that made the threshold for controlling this platform higher. The entire financial system has increased costs in many aspects. The technology of blockchain plays a role in reducing a large number of costs in finance by preventing tampering and being transparent.

Blockchain is like our commonly used ledgers. Whoever keeps accounts has a certain reason and strength. WeChat’s ledger is kept by the large platform Tencent, and the same is done by small Internet companies. It will also have its own ledger. But in the blockchain, everyone in the system can be the owner of the ledger. If there is a change in the data when you are in charge of this ledger, the system will record the person with the best accounting and the highest efficiency, so that the entire system It will allow everyone to have a complete ledger. This is the impact of simple and abstract blockchain technology.

The best time to learn blockchain was 10 years ago and now. Cai Kangyong once said: "At the age of 18, you find it difficult to speak English, so you give up English. At the age of 28, a great job, but you have to say "I can't." "But when we return to the topic of blockchain, its value lies in whether it can change our lives. The peer-to-peer blockchain allows you to complete the payment between two countries within 5 seconds, reducing the cost of your transaction. Reduced. But the blockchain that cannot be traded twice can prevent you from being "violently evicted". The secure blockchain allows you to protect your secrets to the maximum extent, and there are no more harassing phone calls. The blockchain also It allows you to enjoy the large-scale development of the sharing economy platform. Therefore, although blockchain is not a perfect technology, as long as it can change our lives, its value, like a mobile phone, cannot be ignored.

We all know that it is the winners who change the world. These winners are Tencent, Alibaba, Google and Facebook, as well as many Internet companies that we are familiar with. While they change the world, they also bring benefits to investors. We have achieved amazing returns.

We must know that Rome was not built in a day. Similarly, the value of blockchain also needs to be explored and exerted by ourselves. Blockchain is also slow amid fluctuations and doubts. Development is slow. And most Bitcoin holders have not been able to earn the maximum income. Only a few people who truly understand the blockchain and have firm confidence in it persisted until the end. Only those who have confidence in the blockchainOnly after in-depth study and understanding of blockchain can we have our own ideas. Learning blockchain is not just about learning its operating model and concepts, but also applying it to actual work, so that it can continue to exert value in finance.