The role of blockchain in financial technology

1. At present, blockchain is most widely used in the field of financial technology, such as digital asset trading. As a kind of underlying technology, blockchain is the technical implementation of bitcoin. The rapid application of blockchain technology also needs virtual currency. In the past, a large-scale economic scenario requiring mutual trust and extensive cooperation between many people can only be solved by centralization, with low efficiency. The emergence of blockchain technology has solved this problem and eliminated this center. One of the important reasons to get rid of this center is that virtual currency provides an endogenous economic incentive mechanism for the blockchain, so that people have the motivation to participate in the economic activities after the transformation of the blockchain. Of course, blockchain will have more extensive and mature applications in more fields in the future. For example, in November last year, State Grid submitted a patent application named "power transaction control method and device about blockchain". This year, Xi'an City Wall International Marathon also used blockchain technology for the first time in the world to collect athletes' competition data, data and data All the information such as the winning part is registered on the blockchain. With its traceable and tamperable technical characteristics, the information channel between the events is opened up, which effectively ensures the reliability of the competition results.

2. 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.

3. Most of the previous excitement around blockchain was generated by the financial services instry, but the benefits of blockchain have gone far beyond that. In fact, the technology can simplify, verify and record any transaction in a faster, more seamless and safer way, and even reshape the distribution of energy elements in many instries. Blockchain application is very hot now. There is a SMIC blockchain service platform project initiated by Changsha high tech Zone, which is blockchain + public service mode, and is soliciting enterprises to join the chain.

5. What should we do if we can't exchange currency for foreign exchange? You can go to the Bank of China to exchange foreign exchange

6. (1) The realization of clearing and trading of central bank by blockchain is point-to-point, which no longer relies on commercial banks and intermediaries to realize transactions. This will have a significant impact on the future financial order and enhance the credit of currency
(2) in the aspect of audit, if every order has to be stored in the blockchain from the terminal, the database on the blockchain is irreversible, tamperable and traceable, so it is easy to make false
(3) rece the cost of fees. For example, if the bank makes a blockchain credit system, the data of customers' orders in each link is not only transmitted to the asset management company, but also stored in the system. The data of participants are shared and operated in the same database, and the lawyer fees and transaction costs will be greatly reced.