The impact of agricultural blockchain on China's economy
On August 6, 2018, Mr. Cai Yi, financial instry consultant of Huawei Company and founder and CEO of Huaxuan technology, was in daga | blockchain & amp; AI (core group) made a special topic sharing, the theme is: the current situation and Prospect of blockchain finance. The following text is arranged according to the speech of the lecture and has been reviewed by the author
Cai Yi: Consultant of financial instry of Huawei, founder and CEO of Huaxuan science and technology, founder of shared reading association, member of China Writers Association, engaged in financial science and technology research for more than ten years, and is a senior expert in digital transformation of banks
good evening, everyone. I'm very glad and honored to share some thoughts with you here
let's make a simple self introction: my name is Cai Yi. I worked as a writer in my youth. I wrote some books, magazines and novels in the 1990s. At that time, there was no Internet. After work, I have been engaged in the information work of financial instry, from financial channels to data centers, from outlets to technology, witnessed the development of financial technology, and also found some problems. After 2014, I worked as an investment partner and in recent years as a financial instry consultant in Huawei. From the cognitive level, I worked as a consultant for the talent development of digital transformation in the financial instry
in 2015, I started Huaxuan technology and sharing reading club. At present, we mainly focus on the cognition of blockchain and the implementation of financial technology solutions. At the cognitive level, interactive sharing and knowledge management are carried out in the way of book club. At the technical level, the process and scene of the financial instry are reshaped by combining blockchain, big data and AI technologies. I am interested in blockchain and often study and discuss with some friends. Of course, some views are still superficial. I hope you can exchange more criticisms and corrections
the elite think tanks in the United States once believed that the core of maintaining global leadership is science and technology, which must rely on economy, and the core of economy is finance. So what is the future of finance
today's topic is: the current situation and Prospect of blockchain finance. I would like to introce it mainly from three aspects:
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briefly introce finance and financial system
the current situation of blockchain finance
prospect of blockchain finance
First of all, let's talk about the concept of finance. The word "finance" originated from Japan after the Meiji Restoration (1868), which is somewhat related to the gold standard established by Japan in 1897. At the beginning of the 20th century, it was introced into China from Japan. It was first proposed by Finance Minister Liang Qichao in 1902. At that time, Zhang Zhidong raised his objection. Therefore, after the Sino Japanese War of 1894, China remained in the silver standard, but it also made China avoid the Great Depression of 1929 The original meaning of finance is "money accommodation", which refers to the circulation of funds in the society. Later, its meaning has been expanded to indicate transactions and economic activities related to money and credit. In fact, there is another reason: gold used to be the only medium in international trade, and its value and wealth were based on gold. Therefore, when making standard gold bars, people need to melt gold into shape, which may be the original meaning of the word "finance", that is, to melt metalFinance is the general name of currency circulation and credit activities and the economic activities associated with them.
let's look at the definition of Finance later: finance is the general name of currency circulation and credit activities and the economic activities associated with them. In a broad sense, finance generally refers to all the economic activities related to the issuance, custody, exchange, settlement and financing of credit currency, Even including the trading of gold and silver, the narrow sense of Finance specifically refers to the credit currency financing
In short, the contents of finance can be summarized as the issuance and withdrawal of money, the absorption and payment of deposits, the issuance and recovery of loans, the trading 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 has two-way feedback. The institutions engaged in financial activities mainly include banking, insurance, securities, trust, financial leasing, etc. We all know this better and have frequent contact with it. Therefore, to understand the meaning and institutions of finance, we also need to understand China's financial system
2 China's financial system the development of China's financial system can be roughly divided into five stages:
initial formation stage, the first five years (1948-1953): the establishment of the people's Bank of China (1948). At this time, the PBC is far from what we want now. But it marks the beginning of new China's financial institution system
In the second five years (1953-1978), the people's Bank of China (PBC) is the only financial institution in China that deals with all kinds of banking business, integrating the central bank and ordinary banks. In fact, reunification means that we the model of foreign countries. I will not talk about specific countries In the third five years (1979-1983), the Bank of China (established in 1912), the Agricultural Bank of China (established in 1951) and the Construction Bank of China (established in 1954) were restored or established one after another, but the people's Bank of China still integrates currency issuance and credit. We can see that after the reform and opening up, China's financial instry has developed very fastthe diversified financial institution system has begun to take shape. Ten years (from September 1983 to 1993): it has formed a financial institution system with the people's Bank of China as the core, the four major professional banks of instry, agriculture, China and construction as the main body, and other financial institutions coexisting and cooperating. After 1987, there were Bank of communications, China Merchants Bank, Shenzhen Development Bank, CITIC and Hengfeng. In 1988, Ping'an, Guangfa and Xingye appeared. Everbright, Huaxia and Shanghai Pudong Development Co., Ltd. appeared in 1992, and the Securities Regulatory Commission was set up in the same year
the stage of building and improving the social * * market financial institution system (since 1994): it has formed a relatively complete financial institution system with "one bank, three meetings" as the leading role, large, medium and small commercial banks as the main body, and a variety of non bank financial institutions as the 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 (which is of great significance). In 1998, urban commercial banks emerged and CIRC was established. In fact, the CBRC appeared relatively late, and it was only established in 2003. Since then, the pattern of "one party, three meetings" has been formed. However, not long ago, the China Banking Regulatory Commission and the China Insurance Regulatory Commission merged into the China Banking and Insurance Regulatory Commission. You can pay attention to this
from the perspective of evolution, the normative research of finance is often linear
that is, we often take a certain evolution form as the standard (usually developed market economy system, such as the Soviet Union, Germany, the United States and even Japan), describe the progress path of the financial system from non marketization to marketization, from inefficient allocation of financial resources to efficient allocation, and focus on explaining the gap of the standard form and the reasons
In fact, we can find from the development process of China's financial system just now: since 1978, China's financial system has evolved in the direction of marketization, standardization, diversification and internationalization, All kinds of financial institutions show a "network" and "strong connection" business form, that is, the connection degree between banks, banks and other financial institutions, as well as financial sub markets has increased significantly, and the credit connection is increasingly close, mixed and complicatedthe ecological environment of financial instry has also undergone some obvious changes. On the one hand, traditional formal financial institutions seek to speed up transformation and innovation, and strive to seize the opportunity in business strategy, market positioning, management structure, format and proct innovation. On the other hand, a large number of emerging financial institutions have emerged
financial format also presents new characteristics such as real estate financialization, non bank institutions "banking" and asset securitization
The above changes are beyond the imagination of the instry, regulators and policy makers, and will bring a series of impacts:on the positive side, the scale and composition of the financial system have been expanded, the business expansion and financial service capacity of financial institutions have been improved, the financial market has been developed, and innovative payment has developed rapidly. That's what we're going to talk about in financial technology
in a common saying, when the forest is big, there are all kinds of birds. The negative aspects are mainly reflected in the following aspects: the interaction between the
financial system and the real economy tends to be complex, and the role of the financial system in promoting and amplifying asset bubbles is underestimated. p>
the reticulation and strong correlation of the financial system widen the gap between the financial instry and financial supervision, and weaken the effectiveness of traditional supervision. China's current financial supervision system has only been in operation for more than ten years
the transmission path and mechanism of monetary policy through the financial system have changed (the transmission chain of monetary policy has been lengthened or deformed, the conctivity and effectiveness have declined), and the initiative and effectiveness of regulation are facing new constraints. Since its establishment in 1996, the current monetary policy framework has been constantly improved in response to the development of economy and financial market, but the complexity of the financial system in recent years has put it to a new test. Broad money M2 is also impacted by financial deepening, electronic payment and other factors, and further weakened by the shadow banking system
all kinds of cross market, cross business and cross-border behaviors to evade supervision make a variety of risk factors intertwined, such as: capital pool operation with serious mismatch of maturity and procts hides large liquidity risk, proct nesting leads to risk transmission, insufficient shadow banking supervision, local debt, real estate, external shocks, etc., all of which bring great challenges to the stability of the financial system
without comparison, there is no harm, and China's financial system as a whole is relatively backward. This kind of backwardness is mainly reflected in the backwardness of bank innovation: the people's Bank of China announced in October 2015 to abolish the "interest margin protection", while the interest rate of the United States had been completely marketized as early as April 1986, and China was nearly 30 years late
3 the institutional framework and basic problems of China's financial system
Second, the * * third party acts as a credit intermediary to guarantee the realization of asset transfer transactions
the third is the transaction settlement and clearing completed by the centralized clearing organization
Based on this, there are also four problems:1) credit 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 safety of transactions between the two sides
(2) transaction settlement takes a long time. The time of traditional financial transactions has been speeding up, but the settlement time is still relatively long, especially for cross-border transactions, which often can not arrive immediately (3) the cost of intermediary service is high. The traditional financial transaction system is very importantsecondly, blockchain will play a role of "improving the efficiency of instrial chain collaboration". Enhancing instrial collaboration is an important way to promote manufacturing in China to move towards the middle and high end. However, in many instries, the efficiency of instrial chain collaboration is still not high, especially in the field of international trade
thirdly, blockchain will play a role of "building an honest instrial environment". At present, the construction of China's social credit system is accelerating, but in some cases, the process of building trust among partners is still slow, it is difficult to obtain all kinds of credit information, and it is difficult for small, medium and micro enterprises to obtain credit loans from financial institutions. Through the "transaction on the chain", all aspects can more easily find out the accurate historical credit situation of the counterparties, and establish the cooperation mechanism faster; Banks can also give credit to enterprises more safely based on transaction records, and promote the solution of the problems of "difficult, expensive and slow financing" of small, medium and micro enterprises operating in good faith
in addition, blockchain can make use of smart contracts to avoid default and fraud to a large extent, and can also make efficient and convenient payment scenario applications in combination with blockchain asset wallet. As early as in the blockchain circle, there have been many innovation forums and Instry Summit aiming at the direction of blockchain enabling the real economy, and combining with the local economic instry to carry out landing optimization. For example, the world blockchain conference Macao station intends to make a deep integration with the local economic instry, and use and popularize the blockchain assets with the payment means of magic chain wallet.
therefore, the business hall is not wrong
2. Mobile phone stores belong to distributors. It can ask you to provide ID card to deal with there, also can omit not to ask
the number with 8 needs to be changed, which is their own rule
3. Mobile phone numbers that don't need ID cards are not a big problem. Pay attention to the package and cost when buying the card.
as China's agricultural instry has been facing many problems such as highly dispersed operators and long instrial chain, there are many obstacles on the road of transformation and upgrading. The blockchain has the point-to-point trust under the distributed cooperation, and the tamperable records can just solve many pain points in the uplink of agricultural procts, eliminate the information asymmetry to the greatest extent, improve the information transparency and timely response ability of the whole instrial chain, and realize the value-added of the whole instry. Therefore, blockchain technology is entering the field of agricultural procts proction and circulation, and is profoundly transforming China's agriculture
recently, China's first white paper on agricultural blockchain was released by China rural network. Through analyzing the actual case of China rural network's efficient integration of proction end and sales end by using Internet of things and blockchain technology, it is confirmed that the application of blockchain in agricultural instry is not simply to make the traditional offline process online, but to empower and enhance the efficiency of the instry
SUN Wei, CEO of China rural power grid, interprets the methodology of blockchain
as a representative enterprise of B2B e-commerce of agricultural procts in China, the core transaction category of China rural power grid is silk, with an annual transaction volume of several billion yuan. However, the upstream proction monomer of silk instry is small and scattered, the instrial chain is long and inefficient, the transaction cost is too high, and the buyer and seller will often break the contract artificially
China rural power grid blockchain + cocoon and silk instry supply chain
through blockchain Distributed Accounting and tamper proof technology, China rural power grid can present the information of buyers and sellers to upstream and downstream parties and relevant third parties openly and transparently, and the defaulter will be abandoned by the instry, thus establishing a positive reputation ecology through mutual chain, and letting good currency drive out bad currency
at present, the agricultural blockchain platform of China rural power grid has achieved success in the first stage, which can not only reshape the trust relationship between all parties, but also significantly improve the transaction efficiency and rece the transaction cost
generally speaking, the instry generally believes that blockchain will be used in the Internet of things, agricultural procts traceability, rural finance and other six fields
1 Internet of things
the combination of Internet of things and blockchain will enable Internet of things devices to achieve self-management and maintenance, saving the high maintenance cost of cloud control as the center
2 big data
blockchain technology has point-to-point trust, and tamperable records will become an excellent way to solve the problem of data authenticity and effectiveness
3 quality and safety traceability
the agricultural procts traceability system based on blockchain technology, all data can not be tampered with, making the information more transparent, true and accurate
4 rural finance
the open and tamperable nature of blockchain technology makes it possible for decentralized trust mechanism. When applying for loans, it is no longer dependent on banks, credit reference companies and other intermediary institutions to provide credit certificates. The lending institutions can obtain the corresponding information data of the blockchain
5 agricultural insurance
blockchain technology can improve the protection of agricultural intellectual property rights and the transaction of agricultural property rights, and greatly simplify the process of agricultural insurance. At the same time, smart contract will also make agricultural insurance payment more intelligent
6 supply chain
e to the openness and transparency of data among all parties, a complete and smooth information flow is formed in the whole supply chain, which helps to improve the efficiency of supply chain management. The characteristics of non tampering data and transaction traceability can also eliminate the problem of fake and inferior procts in the process of proct circulation in the supply chain
in fact, some powerful agricultural enterprises have been aware of the opportunities of blockchain and have made an early layout to explore.
Selenium is a chemical element and a nonmetal
There are two forms of selenium in nature: inorganic selenium and plant active selenium. Inorganic selenium generally refers to sodium selenite and sodium selenite, which are obtained from the by-procts of metal deposits; The latter is formed by the combination of selenium and amino acids through biotransformation, and generally exists in the form of selenomethionine There are four main functions of selenium:1. Scientific confirmation: it is precisely because of & quot; Selenium & quot; It can prevent organ aging and pathological changes, delay aging, enhance immunity, resist diseases, resist toxic heavy metals, rece the side effects of radiotherapy and chemotherapy, and prevent cancer
Second, to prevent diabetes. Selenium is an active component of glutathione peroxidase (GSH PX), which can prevent pancreatic islets β Cell oxidative damage, make its function normal, promote sugar metabolism, rece blood sugar and urine sugar, improve the symptoms of diabetic patients Third, detoxification and detoxification. Selenium has a strong binding force with metal and can resist the toxicity of cadmium to kidney, gonad and central nervous system. Selenium combines with mercury, lead, tin, thallium and other heavy metals in the body to form a metalloselenoprotein complex and detoxify Prevention and treatment of liver disease. After 16 years of epidemiological investigation of liver cancer in China, Chinese medical expert Yu Shuyu found that the selenium content in the blood of residents with high incidence of liver cancer is lower than that in low incidence area of liver cancer. The incidence rate of liver cancer is negatively correlated with blood selenium level. She added selenium to 130 thousand residents in Qidong County of Jiangsu Province, and confirmed that selenium supplementation reced the incidence rate of liver cancer by 35%, and the incidence rate of liver cancer was 50%. p>
extended data :
don't blindly supplement selenium, the key to a balanced diet
in recent years, many people have joined the "army of selenium supplement", believing that selenium supplement is helpful to "cancer prevention". However, this practice is not worth encouraging, because selenium, like other trace elements, should adhere to the principle of appropriate amount, not more is better, and it is not suitable for everyone
selenium has such a strong anti-cancer effect. The results of the study have not yet been reached. Some studies have shown that selenium can rece the incidence rate of some cancers, but some studies have negated this conclusion. Therefore, the scientific research evidence of selenium as an anticancer agent is still very limited
The range between the beneficial and toxic amounts of selenium is the narrowest among all trace elements, so the most technical content is required for selenium supplement, and it will be excessive if you are not careful. Under normal circumstances, the recommended daily selenium intake is 50 ~ 200 μ G In addition, excessive supplement of selenium will hinder the absorption of manganese in human body, and lack of manganese will cause a series of health problems. Therefore, we can not blindly supplement selenium. Some researchers warn that blind selenium supplement may increase the risk of some diseases. If you want to supplement selenium, you should go to a regular hospital to determine the level of trace elements in the body, and supplement selenium under the guidance of doctors to avoid poisoninghuman body can not synthesize selenium itself, and food is the main source of selenium. A healthy person who is not partial to or picky about food can meet the body's demand for selenium through a balanced diet without additional supplement
all kinds of selenium rich foods on the market, such as selenium rich rice, selenium rich vegetables, etc., can be eaten occasionally, but it is not necessary to buy them often. If you must eat selenium rich food, it's best to choose the one marked with selenium concentration, calculate the body's needs and then buy it
The content of selenium in natural food was as follows: animal viscera, seafood, fish, eggs, meat, grain, milk, onion, garlic, vegetables and fruits. Sesame and garlic also contain a lot of selenium. The selenium content of the same crop in different areas is very different, and there is an order of magnitude difference of 1000 times or even 10000 times