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Development obstacles of blockchain Technology

Publish: 2021-05-09 17:30:32
1. blockchain is a kind of technology. "In the simplest and most popular way, blockchain technology is everyone bookkeeping, or distributed ledger."
in the Internet era, there is a database behind every system. This database can be regarded as a large account book. In the past, the person who maintained the system was responsible for managing the database and recording the user's behavior, that is, bookkeeping. However, the blockchain is "decentralized", which allows every member of the system to participate in it, not only everyone bookkeeping, but also through links, Everyone can have a complete account book
"blockchain is essentially a collective recording mode. What's special is that it adopts a set of techniques in an ingenious way to realize the authenticity and credibility of the recorded results, which is difficult to destroy and tamper with. " Zhang Xiaorong said, "first, everyone has the right to record and authenticate with each other to distinguish the true from the false, which is called consensus mechanism; Second, no one can tamper with the records, because there are cryptographic signatures; Third, everyone has a , so even if some account books are damaged, the whole will not be affected. This is called distributed storage. The information recorded in this way is presented in block mode according to the time chain, so it is called blockchain. "
various cryptocurrencies represented by bitcoin are originally an application of blockchain technology, which can be described as blockchain version 1.0. However, around 2014, the instry began to realize the important value of blockchain technology. Blockchain graally separated from digital currency and applied to various economic and social fields other than digital currency
it has broad application prospects
blockchain technology is considered as a disruptive innovation after steam engine, electric power and Internet. If the steam engine and electricity liberate the proctivity, and the Internet has changed the way of information transmission, the blockchain, as a machine for building trust, may change the way of value transmission
for example, in the financial field, the cost of reconciliation, clearing and settlement between financial institutions, especially cross-border financial institutions, has always been very high, and there are complex manual processes. The application of blockchain technology can help rece the cost of reconciliation and dispute resolution between financial institutions, and significantly improve the processing speed and efficiency of payment business, It also makes small cross-border payments possible. In December 2017, China Merchants Bank completed the RMB position transfer business from Hongkong Wing Lung Bank to Shenzhen Branch of Wing Lung Bank. This is the world's first interbank cross-border RMB clearing business based on blockchain technology
in addition, according to the white paper 2016 on China's blockchain technology and application development issued by the Ministry of instry and information technology of China, the application of blockchain has been extended to medical and health, ecation, charity, social management and other fields. Taking the cultural instry as an example, the low cost of reproction, the high cost of safeguarding rights, and the difficulty of providing evidence make the protection of intellectual property rights a pain point for the instry. With blockchain, the proction, dissemination and transaction records of cultural procts are true, transparent and reliable, and the problem can be solved
Zhang Xiaorong said that blockchain technology has solved two major problems in the era of Digital Economy: one is the visible flow direction, and the other is zero trust cost. In the past, the circulation of physical paper money was invisible, but the flow of all digital assets had a "chain" to check. Yang Yanchao, a researcher at the intellectual property center of the Chinese Academy of Social Sciences, also believes that the biggest advantage of blockchain is that it has truly completed the credit construction in an anonymous society, bringing new opportunities to many fields, thus making various innovative applications possible
there is a long way to go in the future development
in terms of technology promotion, there is no big barrier to blockchain, which has been confirmed in the global practice of bitcoin, and its main resistance comes from the obstacles in concept and implementation
"on the one hand, the society may be very concerned about the" naked "state in the blockchain. Blockchain has built a "Skynet" for the commercial society. The company's economic activities are all recorded, so there is no secret to speak of. In this way, some business strategies may not be implemented under the blockchain. "
"on the other hand, the current legal system lags behind the development of information technology, so how to put the emerging blockchain technology under the legal supervision needs to be studied." Duan Yongchao said
the core of blockchain is decentralization, which will have an impact on the long-standing central management model. In addition to the law, how to establish a regulatory environment that can promote the application of blockchain technology, so that the technology can benefit the society and not be used to do evil, is also an urgent problem to be solved.
2. The potential is huge. Now, blockchain is the outlet, with state support (but you have to make clear the difference between blockchain and bitcoin). I think it is also a trend that can be expected in the future. The key is that there is a big talent gap in blockchain
3. The first factor is to promote on-demand trading and rece unnecessary trading volume. In the node, the positive n-order matrix is a natural cabinet for data storage. Its output uniqueness perfectly solves the integrity of sealed data. The use of pointer greatly improves the feasibility of this scheme. Shortening the verification time can increase the transaction frequency. Chainnova is a blockchain company. I feel it's very good.
4. The status quo of civil law protection of network virtual property in China

1. The status quo of legislation

network virtual property is still a new thing in China, and the relevant laws to protect it are relatively backward, and there is no definite legislation on the protection of network virtual property in civil law

(1) the relevant provisions of the Constitution and the general principles of civil law are relatively general, but provide space for their interpretation: after the amendment of the Constitution in 2004, the protection of citizens' legitimate private property was explicitly included in the constitution, which provides a great space for the interpretation of civil law property According to the general principles of the civil law, "a citizen's personal property includes his legal income, house, savings, articles for daily use, cultural relics, books and materials, trees, livestock, and other means of proction and other legal property permitted by law." It is not clear that the network virtual property should be included in the personal legal property. However, there is no clear explanation for "other legal property" in China's law, which also provides space for us to interpret it

(2) the protection of network virtual property in the decision on maintaining Internet security is still unclear: Article 4 of the decision stipulates: "in order to protect the personal and property rights of indivials, legal persons and other organizations, those who commit one of the following acts, which constitute a crime, shall be investigated for criminal responsibility in accordance with the relevant provisions of the criminal law... Theft, fraud, illegal use of the Internet "Extortion" and Article 6: "anyone who uses the Internet to infringe upon the legitimate rights and interests of others, which constitutes a civil infringement, shall bear civil liability according to law." The "decision" on the protection of network virtual property is still not clear, but also does not negate the protection of network virtual property, which also provides space for judicial interpretation

from the above legislative situation, China has no clear legal provisions for the handling of such cases, and has not carried out special legislation like South Korea, the United States and Taiwan. After the occurrence of network virtual property disputes, the disputes can not be solved in a timely and effective manner, which has brought great hidden dangers to the security of the Internet. Network virtual property disputes continue to emerge, calling for the relevant legislation and judicial as soon as possible< From the judicial point of view, the civil legal protection of network virtual property mainly involves the following aspects:

(1) the existing burden of proof sharing is obviously unfavorable to players

in civil litigation, generally speaking, it is "who claims, who provides evidence", If the party who claims the right can not provide the corresponding evidence to support his claim, he will bear the adverse consequences of litigation, and the civil dispute of network virtual property is no exception. In the online game environment, most players use the registration information is not real, in this case, not only to prove that they are the real owner of the ID, but also to prove that they lost the type and quantity of network virtual property. Due to the virtual characteristics of online games, the burden of proof is difficult for the players, which is obviously disadvantageous to the players. Because the operation and transaction of network virtual property are all dynamic, after the loss of network virtual property, it is difficult for players to find the relevant traces, and it is even more difficult to prove their legal ownership< (2) it is difficult to determine the value of network virtual property. At present, there is no unified standard for the evaluation and calculation of the value of network virtual property, so it is difficult to get fair compensation after disputes< (3) it is difficult to apply the existing evidence rules to the confirmation of evidence in the case of network virtual property. In essence, network virtual property is just a set of data stored in the computer, one of its characteristics is that it can be copied infinitely. On the other hand, because the game server is always in a state of high-speed movement, it brings considerable difficulties to the fixation of evidence. Once the network virtual property disappears or is deleted by the operator, it is not easy to find the evidence related to the case Article 69 of the regulations on evidence in civil procere clearly stipulates that the following evidence can not be used as the basis for determining the facts of the case alone: (4) copies and reproctions that cannot be checked with the original or the original. " As far as the network virtual property is concerned, it is difficult to distinguish the original and the of the evidence provided by the plaintiff and the defendant in the form of the network virtual property itself, pictures and screenshots. Obviously, it is difficult to apply the existing rules of evidence in the case of network virtual property. A good solution to this problem depends on the breakthrough of the existing rules of evidence in legislation or judicial interpretation

in judicial practice, the basis of coordinating or dealing with disputes related to online virtual property is the previous agreement between players and online game companies, as well as the theory of civil law, combined with the rules of online game itself to choose the applicable jurisprudence. This also reflects the principle of law application in China: there is law, according to law; There is no law, according to convention; There is no convention, according to the law. Just because the basis of dealing with disputes is some legal theories, rather than specific legal provisions, the basis of solving online virtual property disputes in online games lacks legal authority. It can be seen that the current situation of civil law protection of network virtual property in China is not very optimistic. The legal circle should pay more attention to it and improve the existing civil legal provisions in order to stabilize the social legal environment.
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6. Building a truly interconnected and shared "value Internet" is the current important development strategic direction of Chongqing jinwowo group. In 2017, a blockchain Research Center was established in Hangzhou, and it is planned to establish a blockchain research center in Chongqing.
7. Blockchain technology has a lot of applications in finance, and many characteristics make the future of the financial instry have a lot of imagination

for a single (domestic) central bank, bitcoin can be regarded as a "foreign exchange currency", and bitcoin will not be affected by the central bank's monetary policy. From this perspective, bitcoin is bound to bring about the so-called currency competition. When American tourists travel abroad, they will encounter the experience of exchanging foreign currency with unofficial exchange rate. The original intention of local people to exchange dollars may be to avoid the impact of high inflation (inflation tax)

if this kind of exchange can be "carried forward and widely used", the government's way of using inflation tax to increase fiscal revenue will be limited, and the traditional foreign exchange control will lose considerable effect. As long as there is Internet or telephone, people can use digital currency as the exchange medium<

challenge global currency status

although bitcoin is unlikely to replace the world's major currencies in the short term, bitcoin still has the opportunity to play a leading role in some specific occasions. The status of US dollar is obvious in many countries in the world, but the liabilities created by foreign banks under US dollar denominated deposits have brought jurisdiction problems. If the Bank of America further provides bitcoin denominated loans and accepts the redemption of bitcoin, what should the regulatory authorities do? In fact, there are similar signs in the euro dollar market today

in other words, at a time of financial crisis, if the market wants bitcoin deposits instead of US dollar deposits, then the central bank's status as "lender of last resort" in the traditional sense will be completely lost

acting as a safe haven asset

a safe haven asset does not mean a risk-free asset, but refers to the asset that investors are willing to pour in at a time of crisis. In the 1970s, real estate was a safe haven asset; In the 21st century, American debt has become a safe haven asset. Can bitcoin become the next key safe haven asset? The answer may be yes or no. But looking back on the dominant position of CUF in Hungary's mortgage loans in the time of the euro zone crisis, bitcoin obviously has a chance to become famous in the first World War: under the background of dollar inflation and bitcoin deflation, the US dollar / bitcoin exchange rate will plummet because the US Federal Reserve can't expand the supply of bitcoin

play the role of securities

in a perfect macroeconomic model, securities trading should be seamless. However, under the influence of monetary policy, the liquidity of OTC transactions of bonds is very poor. Even the ten-year US bonds with the best liquidity have had liquidity problems. Demand for good quality collateral, usually treasury bonds, has soared. If blockchain technology is mature enough, it is likely to bring billions of dollars of collateral supply to the market. Of course, lower demand for treasury bonds may lead to higher interest rates

maintain the stability of financial market

there is a view that the use of blockchain will lead to the withdrawal of global central banks from the stage of history. This possibility naturally exists, but in the short term, it is not too realistic - the central bank needs a lot of hard assets, such as real estate and human capital, to find liquidity carriers / media to completely retreat from the background

there is also a view that blockchain technology will make the financial market completely transparent, thus bringing a more robust financial system. However, it should be pointed out that the mainstream diamond and davige bank squeeze model does not rely on the opacity of the financial market. In theory, the bank's portfolio is completely transparent. But even so, unexpected large-scale redemptions can still cause problems in the financial system

the central bank's digital currency / cash

the current currency and payment structure were formed before the birth of the Internet. The world has changed dramatically, so people must learn to adapt. There is no reason to refuse the possibility of central banks providing digital currency. Before bitcoin, the U.S. Treasury provided online digital bond accounts. Although this kind of account is not used for payment system, it can be applied in theory

the digital account of the central bank has many advantages. First, depositors no longer need deposit insurance because there is no default risk in the central bank; Second, money managers who hold a lot of money can choose the central bank account as overnight deposit instead of shadow banking; Third, the cost of paper money supply will be completely eliminated; Fourth, it will be very convenient for the central bank to pay depositors' interest to facilitate the transmission of the central bank's monetary policy

practical application

Bubi blockchain has made a number of breakthroughs in the technical platform, which can meet the scenario of tens of millions of users, and has the ability to quickly build the upper application business. Bubi blockchain has been applied in equity, supply chain, points and other fields, and is concting experiments and application tests with exchanges and banks. As an integral application on Bubi blockchain platform, Shubei Hebao has been launched recently. Sunshine insurance, as the first large financial institution in China, issues blockchain integral (yangguangbei) on this platform, which is a good example for the landing application of blockchain technology in various instries

blockchain technology will have a profound impact on the financial instry and have an important impact in a long time. People will witness the profound changes in reality one by one.
8. Blockchain technology is more like database and operating system. It is the basic IT instry, the infrastructure of the next generation Internet, and the development path of future technology. It has been very popular in the past two years. As far as I know, fun chain technology is one of the better enterprises.
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