Hangzhou Construction Bank blockchain
in the shock stage after the early surge, the stock has a great chance to continue to shock next week
My humble opinion is for your referencein the era of economic globalization, with the development of information technology, great changes have taken place in people's proction and lifestyle, which also further promotes the development of monetary form. As a new form of money, e-money has become an indispensable part of today's economy with the advantages of convenience, quickness and accuracy. Its importance is graally strengthened. At the same time, the development of e-money has also brought many opportunities and challenges to the monetary management of banks<
opportunities:
1. Reced the deposit reserve and excess reserve of commercial banks
firstly, the central bank has not yet collected deposit reserve for e-money. The electronic currency issued by financial institutions performs the basic function of currency exchange medium and plays the role of replacing deposits and cash. However, it deviates from the financial system and does not pay the deposit reserve. Secondly, the central bank determines different ratios of deposit reserve ratio according to the liquidity of money. The stronger the liquidity is, the higher the deposit reserve ratio is. Due to the rapid conversion of e-money, it can be classified as current deposit or fixed deposit. In this way, it is possible for commercial banks to pay less deposit reserve, and ultimately rece the efficiency of legal deposit reserve ratio. Third, e to the short conversion time and low cost of e-money assets with different maturity structures, it is unnecessary for commercial banks to hold higher excess deposit reserve of the central bank, thus recing the source of deposit reserve of the central bank. On the other hand, the convenient and quick payment and settlement means of e-money rece the economic transaction cost, and the interest income in the form of current deposit or even time deposit is the opportunity cost of cash assets
2. The widespread use of e-money has greatly reced the operating costs of banks, accelerated the circulation speed of money, and improved the service efficiency of banks.
for banks, usually a large amount of money is needed for counting, bookkeeping, storage, transportation and security, but the rapid development of e-money can greatly simplify these work, And save the high cost of handling coins and notes. With the help of computer information technology, electronic money can play the role of transaction, circulation and payment with the help of electronic information flow, which will inevitably rece the transaction cost and improve the circulation and transaction speed of money market and commodity market
3. It is convenient for transfer and transfer between different branches within the bank< The transformation of the national economic development mode will focus on stimulating domestic demand, and the development of bank credit card instry is facing a golden opportunity< In addition to the original banking business, commercial banks have also launched new businesses, such as handling deposits and withdrawals outside the counter, opening personal financial accounts such as consumption accounts, investment accounts, foreign exchange trading accounts, etc., to handle personal consumption credit, ecation investment credit, portfolio tools, etc, Actively contact with large shopping malls, supermarkets and other units that use electronic money frequently, set up POS machines in the above units, connect banks, units, governments and indivials, and form a huge service network with commercial banks as the core
6. The change of the marketing mode of entering the bank
the emergence of e-money has an important impact on the total circulation scale of e-money among commercial banks, other financial enterprises and non-financial enterprises, so that the functions of commercial banks will undergo a major transformation, and there will be fierce competition among commercial banks for the market share of online e-money payment and settlement, Promote the bank to establish the main customer-oriented marketing, and strive to occupy more customers<
challenge:
1. China's annual consumption of e-money has increased significantly since 2003, and the income brought by e-money consumption to its issuers has also increased significantly. If commercial banks do not strive for more e-money issuing qualifications or stay at the current e-money business service level, they will lose their share of e-money business income
2. If commercial banks issue e-money, when users purchase e-money initially, the traditional money deposits of users decrease, the e-money deposits increase, and the traditional money deposits of society also decrease. If the central bank does not draw the deposit reserve for e-money deposits of commercial banks, the total amount of e-money deposits will continue to increase with the use of e-money for payment; Correspondingly, the deposit creation process of traditional money will stop, so the total amount of traditional money deposits of commercial banks will decrease, and then the deposit reserve will decrease.
In recent years, it has become a well-known fact that the wave of science and technology has changed the financial instry. Focusing on the application and research of big data, cloud computing, blockchain, artificial intelligence and other technologies in the financial field has become a hot spot, further giving birth to the new concept of financial technology. Financial technology covers a wider range of fields than Internet finance. Based on Internet technology, it uses more cutting-edge information technologies such as big data, cloud computing, Internet of things, blockchain and artificial intelligence to improve financial efficiency and create new value. Its main business fields include payment and settlement, fund raising, asset management and technical services
since 2017, the trend of financial technology has become more prominent. On the one hand, the people's Bank of China has formally established the financial technology committee, which defines the status of financial technology and its important role in driving financial innovation and better serving the real economy; On the other hand, the five major banks of instry, agriculture, China Construction, and communications have reached cooperation with the five Internet companies of Internet, Alibaba, Tencent, Jingdong, and Suning respectively, which shows that the banking instry attaches great importance to the field of financial technology and follows up quickly
according to relevant experts, new technologies such as big data, artificial intelligence and blockchain are becoming more and more mature and are being applied in the field of financial services to try to solve the security and trust problems between finance and real economy. This means that driven by financial technology, finance and the real economy are developing together, and a new era of service capacity and level is coming
1. Financial technology forces the transformation of banks' thinking mode: as the basic business of commercial banks, trade finance undertakes the comprehensive service connotation of payment, settlement, deposit, loan, financing and credit guarantee, and highlights its importance in bank operation with the advantages of strong debt pull, high income output and low resource consumption. Through financial technology, in addition to recing repetitive work, improving the accuracy of verification and the convenience of interaction, we can also mine previously imperceptible information, relationships and trends through the comprehensive analysis and application of structured and unstructured data, and mine new business opportunities on the basis of improving the ability of data acquisition, analysis and Application, so as to improve the ability of risk prevention and control. Therefore, trade finance business also needs to conform to the trend, change the mode, and use financial technology to improve the ability of trade finance services
With the development of network technology, banks have accumulated a certain amount of technology in the field of trade finance. For example, in the process of bank opening L / C, the application data can be directly extracted and transformed into L / C by using the relatively mature digital technologies such as OCR (optical character recognition) and ICR (intelligent character recognition), replacing the tedious manual input. In March 2017, the cross-border e-commerce payment system of China Everbright Bank was officially launched. The system is designed according to the characteristics of the one-stop demand of cross-border e-commerce, integrating the settlement and sale of foreign exchange, collection and payment. The third-party payment institutions can successfully complete the diversified operations of online settlement and sale of foreign exchange, collection and payment of foreign exchange, and provide the whole process of cross-border payment financial services for cross-border e-commerce payment transactions. The launch of the cross-border e-commerce payment system of Everbright Bank has opened up the domestic and foreign capital flow channels of the third-party payment institutions, and improved the bank's cross-border financial service system2. The banking instry actively tested the "blockchain + trade finance business": (1) domestic letter of credit . In July 2017, Minsheng Bank and China CITIC Bank pioneered the blockchain based domestic letter of credit information transmission system (BCLC) (phase I). This is the first time that the domestic banking instry has applied blockchain technology to the field of L / C settlement. It can not only shorten the sending time of the original paper-based letter of credit, but also make all aspects of the letter of credit more transparent and traceable, and avoid errors and fraud. In September 2017, Suning Bank successfully connected to BCLC. In April 2018, Ningbo Branch of Minsheng Bank successfully handled the first blockchain domestic letter of credit business through BCLC. The successful trial of the first blockchain domestic letter of credit not only effectively improved the efficiency of L / C issuance, improved the customer experience, but also broadened the trade and financial channels 2 Forfaiting transaction , in November 2017, China Construction Bank completed the first blockchain Forfaiting transaction (including the financing form of buying bills or buying out bills), with an amount of nearly 100 million yuan. This is another major breakthrough innovation of CCB in the field of "blockchain + trade finance" after the application of blockchain technology in the field of domestic letter of credit. In September 2017, Hangzhou United Bank joined the "China trade finance blockchain alliance" initiated by China Construction Bank to actively support the development of blockchain trade finance. In January 2018, Hangzhou United Bank and Zhejiang branch of China Construction Bank completed the first inter-bank blockchain Forfaiting transaction in China. With the help of trade finance blockchain, it connects the buying bank and the selling Bank of Forfaiting. Through online matching of transaction inquiry and quotation, online operation of process and other functions, it realizes the electronization of transaction documents and visualization of transaction process, effectively improves the timeliness, security and convenience, and shows the integration role of blockchain in financial technology, It also breaks through the cross system limitation of blockchain technology 3 International Factoring , in January 2018, China Construction Bank launched its first international factoring blockchain transaction, becoming the first bank in China to apply blockchain technology to international factoring business, and for the first time realizing the "fablock eco" with the direct participation of customers, factoring commercial banks and other parties in the instry. In the field of factoring, it creatively integrates both sides of the basic trade into the blockchain, and realizes the automatic identification and assignment of qualified accounts receivable through intelligent contract technology. The whole transaction is visualized and traceable, which effectively solves the operational problems of complicated message transmission and complicated right confirmation process in the development of factoring business, It is of great and positive significance to prevent the fraud risk in traditional trade financing and improve customer experience
3. Improving the ability of data becomes the core competitiveness of developing trade finance: Science and technology is not omnipotent, because of the inherent complexity of financial risk, financial risk will not disappear because of the development of technology. And with the rapid entry of Internet giants, financial technology companies, instry leaders and other non banking institutions, it will create a new competitive pattern. In addition, it is difficult to predict the risk generation mode, the change of transmission path and the acceleration of transmission speed that the new technology may bring. In such a competitive situation, banks must make full use of their own information base, and with the help of the favorable conditions of digital financial management carried out by a large number of enterprise customers, as well as the integration of procurement, proction, sales and financial data management, to comprehensively promote the digitization of trade financial services. With the help of financial technology to establish high-quality database, strengthen the basic ability of stable and fine data analysis, and provide long process and multi scene applications in trade finance services, providing data support for accurate prediction, accurate marketing, accurate innovation and accurate pricing
At present, there are many mutual insurance companies, but the mutual insurance platform that uses blockchain technology only has mutual assistance. It can be regarded as the network mutual assistance platform (mutual insurance) that really applies blockchain technology and lands. Not all mutual insurance companies are using blockchain technology, just the concept of blockchain
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