Blockchain issued by HKMA

1. In the past two years, blockchain alliances have sprung up. What are their representatives
in the early stage of the development of the blockchain instry, many enterprises and institutions formed a blockchain alliance to share the research results of blockchain technology and seek wider application of blockchain technology
in the past two years, blockchain alliances have emerged. As of July 2017, there are R3 composed of more than 40 international banks, hyperledger initiated by Linux foundation, Zhongguancun blockchain Instry Alliance located in the core hinterland of China's Internet, China ledger alliance jointly initiated by 11 institutions, gold chain alliance jointly established by 25 financial institutions, and so on Russia's blockchain alliance, known as "Russian version R3", seeks to combine with micro finance, Qianhai international blockchain ecosphere alliance led by Shenzhen Qianhai administration, and Lujiazui blockchain Financial Development Alliance in Lujiazui
many organizations and talents join to promote the vigorous development of blockchain.

2. The application scenarios of blockchain technology are diverse. Once it is popularized, the whole society will be greatly benefited
1. Financial services
the application of blockchain in the financial field has already spread out, which is not a new thing. The application of blockchain in financial technology has been widely concerned and highly valued all over the world
in mainland China, China UnionPay signed a strategic cooperation agreement on mobile payment with Bank of China in early 2018, explored cooperation in the field of blockchain, and then cooperated with Jingdong to jointly launch the "Internet financial payment security alliance risk information sharing (distributed query) platform" based on blockchain
in Hong Kong, China, the Hong Kong Monetary regulatory authority is one of the earliest regulators to launch sandbox, supporting financial innovation experiments including blockchain technology; The HKMA has also joined hands with the banking instry to launch etradeconnect, which is the first large-scale trade financing information sharing platform for Hong Kong banking instry to apply blockchain technology< On September 18, 2018, Hangzhou Internet court officially launched the chain and became the first court in the world to use blockchain for trial
it is understood that prosecutors can submit electronic evidence such as contract, rights protection process and service process details online through online complaint portal, and notarization office, forensic identification center, CA / RA organization, court and other chain nodes can witness and endorse together to provide one-stop service for prosecutors. Hangzhou Internet court of Zhejiang Province made a public judgment on a case of infringement on the right of network dissemination of works' information, and confirmed the legal effect of electronic data with blockchain technology for the first time
3. Intellectual property
blockchain and related distributed ledger technology provide the possibility for the protection and registration of intellectual property, as well as evidence in the registration stage or court litigation stage. These technologies can also speed up the above intellectual property protection and registration process in a cost-effective way
4. Logistics
in early 2018, rookie and tmall global jointly announced that blockchain technology has been used to track, upload and verify the logistics full link information of cross-border imported goods
after all nodes of the logistics chain are connected to the blockchain, the goods can be traced from manufacturers to consumers, forming a complete chain; The more links the commodity is missing, the more likely it is to be a fake proct
5. Electronic invoice
on August 10, 2018, Shenzhen International Trade revolving restaurant issued the first electronic invoice of blockchain in China. It is understood that this electronic invoice of blockchain was led by Shenzhen Taxation Bureau and provided by Tencent with underlying technology and capability
different from traditional e-invoice and simple e-invoice on the chain, this blockchain e-invoice integrates "capital flow and invoice flow", combines invoice issuing with online payment, and opens up the whole process of invoice application, invoice issuing, reimbursement and tax declaration
in addition to the above fields, the application of blockchain has broad blue ocean prospects. In the future, new technology application and development will emerge in all walks of life, and blockchain will flourish.

3.

Blockchain finance is actually the application of blockchain technology in the financial field

blockchain is an underlying technology based on bitcoin, and its essence is actually a decentralized trust mechanism. Through sharing in distributed nodes to maintain a sustainable database, the security and accuracy of information can be achieved. The application of this technology can solve the trust and security problems in the transaction, and the blockchain technology has become an optional direction for the future upgrading of the financial instry. Through the blockchain, both parties of the transaction can carry out economic activities without the help of the third-party credit intermediary, so as to rece the cost of the global transfer of assets

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since 2016, the major financial giants have also heard the news and launched blockchain innovation projects one after another to explore the possibility of applying blockchain technology in various financial scenarios. In particular, Puyin group took the lead in creating a "blockchain +" standard digital currency. Standard digital currency refers to the process of assets identification, evaluation, right confirmation and insurance completed by a third party organization. After careful digital algorithm, it is written into the blockchain to form the standard corresponding relationship between assets and digital currency, which is called standard digital currency

in order to realize the great leap forward development of blockchain finance, promote the new development of China's economy, accelerate the global asset circulation, and realize the dream of rejuvenation that has been struggling for generations, Puyin group will hold the Guiyang strategic development ceremony of Puyin blockchain finance in Guizhou on December 9, 2016, at which the discussion on the realization of digital circulation of assets, block chain financial transaction mode, and block chain financial transaction mode will be held It also discusses the application of blockchain service and social public instry

4.

Fried coins or something

at present, the application of blockchain technology is virtual currency. Therefore, virtual currency is also known as the first real birth proct of blockchain. The popularity of virtual currency is also obvious to all, which has set off a frenzy of investment in many countries. According to foreign media reports, the number of virtual currency transactions in the United States has reached 5 million; South Korea is estimated to be the craziest nation in the world, with one in every 50 people speculating, and 31% of the working class buying and selling virtual currency; Venezuela has also issued the world's first virtual currency with the nature of national sovereignty - oil currency

with the popularity of virtual currency, market investors are not only satisfied with the conventional trading mode of buying low and selling high, but also actively seek more simple and convenient trading ways to obtain more profits. The virtual currency trend trading method was born and successfully captured the hearts of investors in a short time, becoming a major mainstream trading mode

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, the trend trading method of virtual currency is exclusively launched by speedxo, an international financial service provider with deep experience. It mainly deals with the currency pair composed of virtual currency and real currency, and it can make profits as long as it is bullish or bearish. For example, if an investor trades in "bitcoin / US dollar", he or she only needs to judge whether the price will rise or fall after 30 seconds, and buy up or down according to the trend. If he or she buys in the right direction after 30 seconds, he or she can get 93% of the net income of the investment amount. It is this kind of rise and fall are profitable, time-consuming, no need to take advantage of the market, the trend trading method quickly swept the entire currency circle

5. Because the digital currency, which is the first generation of blockchain technology, has a huge impact on the financial field, the research and application of blockchain technology has become an important task in today's financial field. In essence, blockchain technology still belongs to a kind of technical means and tools. Its application in the financial field and the real economy is parallel. It has its own relative independence, but it also has a certain degree of intersection. That is to say, its role in promoting the real economy is indirect. 1. No matter in finance or entity, one of the bases of transaction between supply and demand is trust. The current bank to enterprise, enterprise to enterprise and enterprise to person are all linked by money. With the further popularization and wide application of blockchain technology, enterprises and enterprises, or indivials can issue digital currency (Digital credit) by themselves in the future, and the status of banks will change from monopoly operation to equal competition operation in the market. Therefore, the wide application of blockchain technology in the financial field has an indirect impact on the real economy. 2. Blockchain technology is the bridge between reality (entity) and virtual world. Through blockchain technology, the real world can be reconstructed, reconstructed and redefined in the virtual world. For example, the digital currency of real paper money in the virtual world, the digital stock transaction of real stock transaction in the virtual world, the digital settlement, digital customs clearance, digital documents and bills of real import and export trade in the virtual world can greatly improve the efficiency of business process and save the transaction cost. At present, all transactions are inseparable from the bank. The bank plays a central role in the transaction. The application of blockchain technology by the bank will certainly improve the efficiency of its settlement and indirectly promote the efficiency of the real economy, but this impact will graally weaken in the future. Because the biggest feature of blockchain technology is decentralization, its distributed accounting system is a network system without center. 3. In fact, the application of blockchain technology is to value and credit the information flowing on the Internet. Through the blockchain, the information with (use value, exchange value, cultural value) in the Internet is reorganized and newly constructed to form a value Internet. It is of great significance. It will bring revolutionary promotion to both the financial instry and the real economy.

6. Recently, the principle of blockchain has been talked about by many people. Obviously, blockchain has been deified by many people. It seems that all walks of life can use blockchain technology. However, to some extent, it is like a black box. We all know that blockchain has many features and benefits, but we don't know how to do it. In fact, as long as you understand the principle of blockchain, you don't have to hesitate

blockchain is not a single innovative technology. Instead, it brings together many cross domain technologies, including cryptography, mathematics, algorithms and economic models. Combined with the point-to-point network relationship, it can establish trust effect by using mathematical basis, and become a decentralized system that can operate without mutual trust or relying on a single centralized organization, Bitcoin is the first set of P2P e-cash system built by using blockchain technology, which is used to realize a decentralized digital currency system and ensure transaction security and traceability

however, how does the blockchain work and what key technologies it contains make it known as the trust machine? How can a transaction be verified in a P2P network that does not trust each other without the traditional trust institutions (such as banks, stock exchanges, third-party institutions and other centralized institutions)

to understand the operation principle of blockchain, we can first distinguish between transaction and block. Here, we understand the operation principle of blockchain from the generation of a transaction in the blockchain to the completion of the verification process and illustrate a block, and further disassemble the five key technologies of blockchain, See how it can be based on zero trust, decentralized, traceable and non tamperable

viewing the operation process of blockchain from a transaction

in bitcoin blockchain, when a transaction is generated through a node or wallet, the transaction needs to be transmitted to other nodes for verification. The method is to encrypt the transaction data by digital signature and get a string of unique hash values representing the transaction by hash function, and then broadcast the hash values to other participating nodes in bitcoin blockchain network for verification<

generate a new transaction

when a new transaction is generated, it will be broadcast to other participating nodes in the blockchain network first

each node will put several new transactions into the block

each node will collect several unverified transaction hash values into the block, Each block can contain hundreds or thousands of transactions

decide who will verify these transactions

each node will calculate the workload proof to decide who can verify the transactions, and the node with the fastest calculation result will verify the transactions, which is the consensus approach

the node that has obtained the verification right will broadcast the block to all nodes

the node that completes the pow as soon as possible will broadcast its block to other nodes

each node will verify and connect with a new block

other nodes will confirm whether the transaction contained in the block is valid, and accept the block after confirming that it has not been repeatedly spent and has a valid digital signature, At this time, the block is officially connected to the blockchain, and the data can no longer be tampered with

transaction verification is completed

once all nodes accept the block, the block that has not finished the pow calculation before will be invalid, and each node will re-establish a block to continue the next POW calculation

it can be seen that the principle of blockchain is not complicated, and its wide application is natural. Many companies have achieved fruitful results in the process of applying blockchain principles to reality. Bubi company is a leading blockchain service provider in China. It has made many breakthroughs in blockchain technology platform, which can meet the scenario of tens of millions of users, and has the ability to quickly build upper application business. Bubi blockchain platform is divided into bubichain and Bubi application adapters.

7. According to McKinsey's analysis, the impact of blockchain technology is most likely to occur in the main application scenarios of payment and trading banking, capital market and investment banking business
digital currency: to improve the convenience of currency issuance and use, for example, the central bank plans to issue its own digital currency; Cross border payment and settlement: realize point-to-point transaction and rece intermediate costs; Bill and supply chain financial business: rece human intervention, rece costs and operational risks; Securities issuance and Trading: realize quasi real-time asset transfer and accelerate the speed of transaction clearing (European crowdfunding is a typical model); Customer credit investigation and anti fraud: rece the cost of legal compliance and prevent financial crimes.

8.

, the world's first electronic wallet cross border remittance service based on block chaining, was launched in Hongkong in June 25th. Hong Kong Alipay AlipayHK users can send remittances to Philippines purse Gcash through block chain technology. p>

ant financial services said that alipayhk cooperated with gcash to become the first e-wallet in the world to use blockchain in the whole link of cross-border remittance, and Standard Chartered Bank was responsible for the day-to-day capital clearing and foreign exchange. Gcash users can consume immediately after they arrive at the account. Cross border remittance can also arrive in real time like domestic transfer, 7 × 24-hour uninterrupted, cost-effective, safe and transparent, it can be said to redefine the "cross-border remittance"

9. Blockchain is widely used in the financial field. At present, digital currency transactions are prohibited in China, while others are not. Some blockchain financial platforms use. Top domain names in the choice of domain names.