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Blockchain flow chart
Publish: 2021-04-14 03:32:16
1. blockchain is a distributed database system participated by nodes. Its characteristics are unchangeable and unforgeable. We can also understand it as an account book system. It is an important concept of bitcoin. A of the complete bitcoin blockchain records every transaction. Through this information, we can find the value of every address at any point in history
blockchain is composed of a series of data blocks generated by cryptographic methods. Each block contains the hash value of the previous block, which is connected to the current block from the original block to form a blockchain.
blockchain is composed of a series of data blocks generated by cryptographic methods. Each block contains the hash value of the previous block, which is connected to the current block from the original block to form a blockchain.
2. The procurement process includes information collection, inquiry, price comparison, price negotiation, evaluation, sample request, decision, requisition, order, coordination and communication, expediting, purchase acceptance and payment.
3. Since the blockchain upsurge in China, the whole instry has been exploring various landing scenarios. It can be said that there are so many blockchains, which have attracted countless entrepreneurs. So what are the advantages of blockchain in the supply chain finance? What are the pain points of the traditional model? What new business models can blockchain create to solve these problems? How should blockchain start-ups enter this field
Moody's, the world's famous bond rating agency, has given 127 blockchain cases, from points to transaction clearing, from document storage to supply chain management, from cross-border payment to supply chain finance, and various applications emerge in endlessly
among so many applications, supply chain finance has attracted much attention, and its commercialization has made rapid progress
this is because, first of all, the supply chain finance scene has a trillion level market scale, and the ceiling is high enough. Secondly, this scene naturally needs multi-party cooperation, but there is no traditional centralized institution in governance, and it needs to use blockchain to build trust. At the same time, technically, this scene does not need high concurrency, and the current blockchain technology can meet it
1. Supply chain finance is a trillion level market
supply chain finance refers to the comprehensive financial procts and services provided to the upstream and downstream enterprises in the supply chain by taking the core enterprises and their related upstream and downstream enterprises as a whole, relying on the core enterprises, taking real trade as the premise, and using the method of self compensating trade financing
according to the different financing collateral, financial institutions divide the supply chain finance into accounts receivable, prepayment and inventory financing, among which the scale of accounts receivable is particularly large< According to the data from the National Bureau of statistics, at the end of 2016, the accounts receivable of China's Instrial Enterprises above designated size were 12.6 trillion yuan, an increase of 10% over the same period of last year, which generated a huge financing demand for enterprises. Compared with the huge accounts receivable, China's annual commercial factoring volume was only about 200 billion yuan in 2015. It can be seen that there is still a large number of supply chain demand has not been met, so the development space of supply chain finance instry is huge
2. How to solve the pain point of supply chain finance with blockchain
pain point 1: the financing of small and medium-sized enterprises in the supply chain is difficult and the cost is high
because banks rely on the ability to control goods and regulate sales of core enterprises, for the sake of risk control, banks are only willing to provide factoring services to upstream suppliers (limited to primary suppliers) with direct accounts payable obligations of core enterprises, Or provide advance payment or inventory financing to its downstream distributors (primary suppliers)
as a result, the demand of secondary and tertiary suppliers / distributors with huge financing demand can not be met, the business volume of supply chain finance is limited, and SMEs can not get timely financing, which will easily lead to proct quality problems and damage the whole supply chain system
blockchain solution:
we issue and run a kind of digital bill on the blockchain, which can be split and transferred freely in the case of transparency and multi-party witness
this model is equivalent to making the credit in the whole business system conctive and traceable, providing financing opportunities for a large number of SMEs that could not have been financed, greatly improving the efficiency and flexibility of bill circulation, and recing the capital cost of SMEs
according to statistics, in the past, traditional supply chain finance companies could only provide financing services for about 15% of suppliers (small and medium-sized enterprises) in the supply chain, while after adopting blockchain technology, 85% of suppliers could enjoy financing convenience
pain point 2: as the main financing tool of supply chain finance, the use of commercial bills and bank bills at this stage is limited, and the transfer is difficult
the use of commercial bills is subject to the reputation of enterprises, and it is difficult to control the arrival time of bank bill discount. At the same time, if we want to transfer these bonds, the difficulty is not small
because in the actual financial operation, banks are very concerned about the legal effect of "Notice of transfer" of accounts receivable claims. If the core enterprise cannot sign back, banks will not be willing to extend credit. It is understood that the bank is very cautious about the legal effect of signing the "Notice of assignment" of creditor's rights, and even requires the legal representative of the core enterprise to go to the bank to sign it face to face. Obviously, this way of operation is extremely difficult
blockchain solution:
an alliance chain can be built between banks and core enterprises, which can be used by all member enterprises in the supply chain. By using the characteristics of multi-party signature and tamper proof of blockchain, the transfer of creditor's rights can get multi-party consensus and rece the difficulty of operation
of course, the system design should be able to achieve the legal notice effect of bond transfer. At the same time, the bank can trace the transactions of each node and draw a visible transaction flow chart
pain point 3: it is difficult for the supply chain financial platform / core enterprise system to prove its innocence, resulting in high risk control cost of the capital side
in the current supply chain financial business, banks or other capital sides are concerned about the authenticity of the transaction information itself in addition to the repayment ability and willingness of the enterprise, and the transaction information is recorded by the ERP system of the core enterprise
although ERP tampering is difficult, it is not absolutely credible. Banks are still worried that core enterprises and suppliers / dealers collude to modify information, so they need to invest manpower and material resources to verify the authenticity of the transaction, which increases the additional cost of risk control
blockchain solution:
as a "trusted machine", blockchain has the characteristics of traceability, consensus and decentralization, and the data on the blockchain has a time stamp, so even if the data of a node is modified, it can not cover the sky. Therefore, blockchain can provide an absolutely trusted environment and rece the cost of risk control on the capital side, Solve the bank's doubts about being tampered with information
3. How should blockchain companies cut into supply chain finance
in terms of market choice, we believe that blockchain start-ups should choose the segments with high enough ceiling, such as household appliances, automobile, retail, clothing, pharmaceutical instry, etc. On the one hand, these instries have a broad market, on the other hand, their supply chain management infrastructure is relatively perfect, and the early cost of block chain is relatively small
we believe that there are two modes for blockchain companies to enter supply chain finance
the first is to directly cooperate with core enterprises / platforms to provide them with the underlying solutions of blockchain. After accumulating enough data, they can provide financial services to the investors by building alliance chain Alliance chain mode)
in view of the fact that the blockchain itself can not solve the problem of risk control, enterprise level risk control still needs to focus on strong core enterprises at the present stage. At the same time, obtaining the support of core enterprises can also effectively solve the problem of customer acquisition, because a large core enterprise generally has thousands of various suppliers
at present, domestic blockchain companies start from core enterprises, including Bubi and Wanglu technology. Bubi has launched an alliance chain "Bunuo" for supply chain finance, linking banks, core enterprises and factoring companies. Bunuo is based in Guangzhou and Shenzhen, radiating southeast business, and digging deep into the field of supply chain finance, Previously, it signed a strategic cooperation agreement with Yigang
the second mode is to provide supply chain management services, such as traceability, tracking, visualization, etc., to integrate information flow, logistics and capital flow, and then engage in financial services Private chain mode)
this mode is equivalent to building an application scenario with blockchain. Just like Alipay, if Ma Yun did Alipay directly, it would be difficult to do so because there was no application scenario, so Taobao first served the real economy. With Taobao, Alipay emerged as a centralization trust scenario and grafted other applications on Alipay before accomplishments.
at present, among the domestic blockchain companies, bitse and food premium are the ones that adopt the supply chain service mode
for example, vechain provides a method of anti-counterfeiting and traceability, by implanting an NFC chip into each commodity, registering the commodity on the blockchain, so that it has a digital identity, and then recording all the information of the digital identity through the account book maintained jointly, so as to achieve the verification effect. At present, vechain procts have been connected with more than 10 instry benchmark customers, and millions of IDS are running on the chain
4. Build a supply chain financial exchange in three steps
from the perspective of implementation path, the application of blockchain in the field of supply chain finance can be realized in three steps
as a prerequisite, we need to build a blockchain + supply chain finance alliance, whose participants include supply chain finance platform, core enterprises, professional financial intermediaries, financiers, factoring institutions, etc
each participant needs to undertake corresponding obligations. For example, the platform is responsible for providing basic services such as supply chain information and customer information, while the core enterprise understands the instry situation, has control over the enterprises in the supply chain, and is responsible for risk control
professional financial intermediaries can integrate and analyze the platform information, and provide customized supply chain financial procts, such as personalized blockchain electronic bills. The fund side includes banks, Internet financial institutions and other customers who are responsible for docking the corresponding risk preference
after the establishment of alliance chain, we can start the three-step strategy
the first step is to put the data in the supply chain alliance on the chain, use the characteristics of blockchain to make it tamperable, and provide services such as data authentication and traceability
the second step is asset digitization, which turns warehouse receipts, contracts, and blockchain bills that can represent financing needs into digital assets, which are unique, tamper proof, and non reprocible
the third step is the transaction of digital assets. The supply chain financial platform will be transformed into a financial asset exchange, which will transform the non-standard enterprise loan demand into standardized financial procts for token, docking investment and financing demand, and concting value trading
finally, blockchain technology will effectively enhance the liquidity of supply chain financial assets, mobilize new financing tools and risk control system, help cover the long tail market of SME financing, and promote supply chain finance as a service.
Moody's, the world's famous bond rating agency, has given 127 blockchain cases, from points to transaction clearing, from document storage to supply chain management, from cross-border payment to supply chain finance, and various applications emerge in endlessly
among so many applications, supply chain finance has attracted much attention, and its commercialization has made rapid progress
this is because, first of all, the supply chain finance scene has a trillion level market scale, and the ceiling is high enough. Secondly, this scene naturally needs multi-party cooperation, but there is no traditional centralized institution in governance, and it needs to use blockchain to build trust. At the same time, technically, this scene does not need high concurrency, and the current blockchain technology can meet it
1. Supply chain finance is a trillion level market
supply chain finance refers to the comprehensive financial procts and services provided to the upstream and downstream enterprises in the supply chain by taking the core enterprises and their related upstream and downstream enterprises as a whole, relying on the core enterprises, taking real trade as the premise, and using the method of self compensating trade financing
according to the different financing collateral, financial institutions divide the supply chain finance into accounts receivable, prepayment and inventory financing, among which the scale of accounts receivable is particularly large< According to the data from the National Bureau of statistics, at the end of 2016, the accounts receivable of China's Instrial Enterprises above designated size were 12.6 trillion yuan, an increase of 10% over the same period of last year, which generated a huge financing demand for enterprises. Compared with the huge accounts receivable, China's annual commercial factoring volume was only about 200 billion yuan in 2015. It can be seen that there is still a large number of supply chain demand has not been met, so the development space of supply chain finance instry is huge
2. How to solve the pain point of supply chain finance with blockchain
pain point 1: the financing of small and medium-sized enterprises in the supply chain is difficult and the cost is high
because banks rely on the ability to control goods and regulate sales of core enterprises, for the sake of risk control, banks are only willing to provide factoring services to upstream suppliers (limited to primary suppliers) with direct accounts payable obligations of core enterprises, Or provide advance payment or inventory financing to its downstream distributors (primary suppliers)
as a result, the demand of secondary and tertiary suppliers / distributors with huge financing demand can not be met, the business volume of supply chain finance is limited, and SMEs can not get timely financing, which will easily lead to proct quality problems and damage the whole supply chain system
blockchain solution:
we issue and run a kind of digital bill on the blockchain, which can be split and transferred freely in the case of transparency and multi-party witness
this model is equivalent to making the credit in the whole business system conctive and traceable, providing financing opportunities for a large number of SMEs that could not have been financed, greatly improving the efficiency and flexibility of bill circulation, and recing the capital cost of SMEs
according to statistics, in the past, traditional supply chain finance companies could only provide financing services for about 15% of suppliers (small and medium-sized enterprises) in the supply chain, while after adopting blockchain technology, 85% of suppliers could enjoy financing convenience
pain point 2: as the main financing tool of supply chain finance, the use of commercial bills and bank bills at this stage is limited, and the transfer is difficult
the use of commercial bills is subject to the reputation of enterprises, and it is difficult to control the arrival time of bank bill discount. At the same time, if we want to transfer these bonds, the difficulty is not small
because in the actual financial operation, banks are very concerned about the legal effect of "Notice of transfer" of accounts receivable claims. If the core enterprise cannot sign back, banks will not be willing to extend credit. It is understood that the bank is very cautious about the legal effect of signing the "Notice of assignment" of creditor's rights, and even requires the legal representative of the core enterprise to go to the bank to sign it face to face. Obviously, this way of operation is extremely difficult
blockchain solution:
an alliance chain can be built between banks and core enterprises, which can be used by all member enterprises in the supply chain. By using the characteristics of multi-party signature and tamper proof of blockchain, the transfer of creditor's rights can get multi-party consensus and rece the difficulty of operation
of course, the system design should be able to achieve the legal notice effect of bond transfer. At the same time, the bank can trace the transactions of each node and draw a visible transaction flow chart
pain point 3: it is difficult for the supply chain financial platform / core enterprise system to prove its innocence, resulting in high risk control cost of the capital side
in the current supply chain financial business, banks or other capital sides are concerned about the authenticity of the transaction information itself in addition to the repayment ability and willingness of the enterprise, and the transaction information is recorded by the ERP system of the core enterprise
although ERP tampering is difficult, it is not absolutely credible. Banks are still worried that core enterprises and suppliers / dealers collude to modify information, so they need to invest manpower and material resources to verify the authenticity of the transaction, which increases the additional cost of risk control
blockchain solution:
as a "trusted machine", blockchain has the characteristics of traceability, consensus and decentralization, and the data on the blockchain has a time stamp, so even if the data of a node is modified, it can not cover the sky. Therefore, blockchain can provide an absolutely trusted environment and rece the cost of risk control on the capital side, Solve the bank's doubts about being tampered with information
3. How should blockchain companies cut into supply chain finance
in terms of market choice, we believe that blockchain start-ups should choose the segments with high enough ceiling, such as household appliances, automobile, retail, clothing, pharmaceutical instry, etc. On the one hand, these instries have a broad market, on the other hand, their supply chain management infrastructure is relatively perfect, and the early cost of block chain is relatively small
we believe that there are two modes for blockchain companies to enter supply chain finance
the first is to directly cooperate with core enterprises / platforms to provide them with the underlying solutions of blockchain. After accumulating enough data, they can provide financial services to the investors by building alliance chain Alliance chain mode)
in view of the fact that the blockchain itself can not solve the problem of risk control, enterprise level risk control still needs to focus on strong core enterprises at the present stage. At the same time, obtaining the support of core enterprises can also effectively solve the problem of customer acquisition, because a large core enterprise generally has thousands of various suppliers
at present, domestic blockchain companies start from core enterprises, including Bubi and Wanglu technology. Bubi has launched an alliance chain "Bunuo" for supply chain finance, linking banks, core enterprises and factoring companies. Bunuo is based in Guangzhou and Shenzhen, radiating southeast business, and digging deep into the field of supply chain finance, Previously, it signed a strategic cooperation agreement with Yigang
the second mode is to provide supply chain management services, such as traceability, tracking, visualization, etc., to integrate information flow, logistics and capital flow, and then engage in financial services Private chain mode)
this mode is equivalent to building an application scenario with blockchain. Just like Alipay, if Ma Yun did Alipay directly, it would be difficult to do so because there was no application scenario, so Taobao first served the real economy. With Taobao, Alipay emerged as a centralization trust scenario and grafted other applications on Alipay before accomplishments.
at present, among the domestic blockchain companies, bitse and food premium are the ones that adopt the supply chain service mode
for example, vechain provides a method of anti-counterfeiting and traceability, by implanting an NFC chip into each commodity, registering the commodity on the blockchain, so that it has a digital identity, and then recording all the information of the digital identity through the account book maintained jointly, so as to achieve the verification effect. At present, vechain procts have been connected with more than 10 instry benchmark customers, and millions of IDS are running on the chain
4. Build a supply chain financial exchange in three steps
from the perspective of implementation path, the application of blockchain in the field of supply chain finance can be realized in three steps
as a prerequisite, we need to build a blockchain + supply chain finance alliance, whose participants include supply chain finance platform, core enterprises, professional financial intermediaries, financiers, factoring institutions, etc
each participant needs to undertake corresponding obligations. For example, the platform is responsible for providing basic services such as supply chain information and customer information, while the core enterprise understands the instry situation, has control over the enterprises in the supply chain, and is responsible for risk control
professional financial intermediaries can integrate and analyze the platform information, and provide customized supply chain financial procts, such as personalized blockchain electronic bills. The fund side includes banks, Internet financial institutions and other customers who are responsible for docking the corresponding risk preference
after the establishment of alliance chain, we can start the three-step strategy
the first step is to put the data in the supply chain alliance on the chain, use the characteristics of blockchain to make it tamperable, and provide services such as data authentication and traceability
the second step is asset digitization, which turns warehouse receipts, contracts, and blockchain bills that can represent financing needs into digital assets, which are unique, tamper proof, and non reprocible
the third step is the transaction of digital assets. The supply chain financial platform will be transformed into a financial asset exchange, which will transform the non-standard enterprise loan demand into standardized financial procts for token, docking investment and financing demand, and concting value trading
finally, blockchain technology will effectively enhance the liquidity of supply chain financial assets, mobilize new financing tools and risk control system, help cover the long tail market of SME financing, and promote supply chain finance as a service.
4. First of all, suppose a person with an empty backpack who has just started the game. On the first morning, it's better to roll the trees first to get enough boards and sticks, and make a wooden manuscript ahead of time. When you see the sun to the west, you're going to start looking for the mine
how to find it<
first press "m" to change the map type to cave
the place with deep color on the map is the mine cave, and the place with light color indicates high altitude.
if you can't see the mine cave, it means there is no cave in a certain depth, then you can try to dig down for a period of time, and generally you can see the mine cave
now what you need to do is to find a small mine - because what you need to do is not to dig, but to find a center for your mine
it would be better if you could get some coal
when you get to the mine cave, you'd better not dig the mine first, which may cause you to fall into a big mine cave
don't act rashly after you find the mine cave, check the whole cave first, and insert the torch. Seal all entrances to the ground
you can make a workbench first
you can also consider making a box, but I don't recommend that unless you have enough wood
you have to wait here for the next day unless you have a bed
on the second day, the first thing is to get out of the cave and build a cabin above your mine cave. It should be fully equipped with boxes, furnaces and fires. It's better to have a bed and a door. It's also necessary to figure out with the mine cave, but it's necessary to put a trap door to prevent monsters from climbing up in the middle of the night
you can do these things in a day
on the third day, you will start mining. First of all, you should take a good wooden manuscript (if you have stone, you can use stone manuscript), torch, food, wooden sword, and bow and arrow
and some stone and wood
of course, if there are stones, first integrate stone manuscript and stone sword< In the early stage, there were two kinds of most important ores:
coal mine and iron mine
iron ore is a necessary tool for making iron tools
if you want to excavate from your mine, you'd better make a door to separate your mine from other mines
the best shape of the excavated mine is 2 * 2 square type
if monsters are found, they should be eliminated in time, especially JJ monsters
remember, don't go into the big mine blindly, and don't go into the underground Canyon or abandoned mine.
how to find it<
first press "m" to change the map type to cave
the place with deep color on the map is the mine cave, and the place with light color indicates high altitude.
if you can't see the mine cave, it means there is no cave in a certain depth, then you can try to dig down for a period of time, and generally you can see the mine cave
now what you need to do is to find a small mine - because what you need to do is not to dig, but to find a center for your mine
it would be better if you could get some coal
when you get to the mine cave, you'd better not dig the mine first, which may cause you to fall into a big mine cave
don't act rashly after you find the mine cave, check the whole cave first, and insert the torch. Seal all entrances to the ground
you can make a workbench first
you can also consider making a box, but I don't recommend that unless you have enough wood
you have to wait here for the next day unless you have a bed
on the second day, the first thing is to get out of the cave and build a cabin above your mine cave. It should be fully equipped with boxes, furnaces and fires. It's better to have a bed and a door. It's also necessary to figure out with the mine cave, but it's necessary to put a trap door to prevent monsters from climbing up in the middle of the night
you can do these things in a day
on the third day, you will start mining. First of all, you should take a good wooden manuscript (if you have stone, you can use stone manuscript), torch, food, wooden sword, and bow and arrow
and some stone and wood
of course, if there are stones, first integrate stone manuscript and stone sword< In the early stage, there were two kinds of most important ores:
coal mine and iron mine
iron ore is a necessary tool for making iron tools
if you want to excavate from your mine, you'd better make a door to separate your mine from other mines
the best shape of the excavated mine is 2 * 2 square type
if monsters are found, they should be eliminated in time, especially JJ monsters
remember, don't go into the big mine blindly, and don't go into the underground Canyon or abandoned mine.
5.
Characteristics of blockchain
one of the four characteristics of blockchain: tamper proof
the most easily understood characteristic of blockchain is tamper proof
tamper proof is based on the unique account book of "block + Chain": the blocks with transactions are added to the end of the chain in time order. To modify the data in a block, you need to regenerate all blocks after it
one of the important roles of consensus mechanism is to make it almost impossible to modify a large number of blocks at high cost. Take the blockchain network (such as bitcoin and Ethereum) with workload proof as an example, only with 51% of computing power can all blocks be regenerated to tamper with data. However, the destruction of data is not in line with the self-interest of players with large computing power. This practical design enhances the reliability of data on the blockchain
generally, the transaction data in the blockchain ledger can not be "modified", it can only be "modified" through the new transactions that are approved. The process of correction will leave traces, which is why the blockchain can not be tampered with. Tampering refers to changing or misinterpreting by means of forgery
in today's common files and relational data, unless a special design is adopted, the system itself does not record modification traces. Blockchain ledger adopts a design different from that of files and databases. It draws on the design of ledger in reality, that is, to retain the traces of records. Therefore, we can not "modify" the account book without leaving traces, but can only "modify" the account book (see Figure 2)
Figure 6: bitcoin is centralized in the organization and logically centralized
when we imagine the future organization, the ideal prototype in our mind is often bitcoin organization: completely decentralized autonomous organization. But in practice, for the sake of efficiency and advancement, we will move closer to the centralized organization and finally find a suitable balance point
nowadays, in the blockchain projects that are created and issued through the smart contract of Ethereum and run in a community or ecological way, the ideal state of many projects is similar to the bitcoin organization, but the actual situation is between the completely decentralized organization and the traditional company
when we discuss the fourth feature of blockchain, which is decentralized self-organization, we are actually going out of the code world, involving human organization and collaboration. Now, various discussions and practical explorations have also revealed the significance of blockchain beyond technology: it may serve as an infrastructure to support human proction organization and collaborative change. This is another example of the complete isomorphism between blockchain and Internet. Internet is not only a technology, it has changed people's organization and collaboration
in general, Ethereum has brought blockchain into a new stage. When discussing Ethereum, if we want to summarize two key words, they are smart contract and token; If I can only say one, I will choose "Tong Zheng". I would rather look for its meaning from the history of the Internet and repeat the previous analogy: as a token of value, its role is similar to HTML. With HTML, what kind of website to build depends entirely on our imagination
6. Dag is also a directed acyclic graph, in which there is no concept of block. The whole flow chart is composed of one transaction. The advantage is that it can save the block and packing process. The advantage is faster, no transaction costs, and no mining
iota adopts DAG technology to build a residential planet of blockchain rental platform, and will also be developed on the basis of iota. Ideally, the larger the network, the faster the transaction confirmation speed of iota, and the more secure the network. The purpose of living planet is to realize the interconnection of intelligent terminals such as intelligent door lock, router, camera and so on.
iota adopts DAG technology to build a residential planet of blockchain rental platform, and will also be developed on the basis of iota. Ideally, the larger the network, the faster the transaction confirmation speed of iota, and the more secure the network. The purpose of living planet is to realize the interconnection of intelligent terminals such as intelligent door lock, router, camera and so on.
7. Let's get close to LINQ to provide an intuitive user experience for investors and entrepreneurs
when logging in to LINQ, the stock issuer will find a dashboard with manageable valuation. The issuer can also manage the issue price of each round of financing and the proportion of stock options provided
the digital representation of shares is visual, and the color block represents the unspent outputs on the LINQ blockchain. NASDAQ calls this data "equity timeline" to show who owns stocks on the flowchart
those transactions that have been spent will be "voided" and grayed out on the timeline. Users can also see arrows to show how these shares are transferred and divided
similar applications have appeared in China, such as the "blockchain + crowdfunding" mode of European crowdfunding.
when logging in to LINQ, the stock issuer will find a dashboard with manageable valuation. The issuer can also manage the issue price of each round of financing and the proportion of stock options provided
the digital representation of shares is visual, and the color block represents the unspent outputs on the LINQ blockchain. NASDAQ calls this data "equity timeline" to show who owns stocks on the flowchart
those transactions that have been spent will be "voided" and grayed out on the timeline. Users can also see arrows to show how these shares are transferred and divided
similar applications have appeared in China, such as the "blockchain + crowdfunding" mode of European crowdfunding.
8. It is reported that the central bank's research on the issue of digital currency is not a temporary move. Since 2014, the research on the central bank's digital currency has been carried out for five years. In 2017, the digital currency Research Institute of the people's Bank of China was officially established, and has applied for more than 70 patents related to digital currency technology< In recent years, with the development of Internet technology, especially blockchain technology, many so-called "virtual currencies" have emerged in the world, such as bitcoin and Laite currency, which are controversial in recent years. So, how is the digital currency proposed by the central bank different from these commercial "virtual currencies"? The following is an analysis of the patent of Xiaoju
some patents of the digital currency Research Institute of the people's Bank of China (data source: huijuyun)
what is digital currency? --[ Invention patent] digital currency system
cloud computing is the mainstream direction of the future back-end server, and the digital currency back-end system adopts cloud based solutions
in e-commerce activities, e to different roles, the requirements for digital currency are different: customers require digital currency to be easy to use, safe to store and anonymous; Businesses require digital currency to be certifiable and can be converted into real currency; Banks require that digital currency cannot be illegally used or forged. Therefore, digital currency d-rmb should have the following characteristics:
1. Security: it can prevent any party in business from changing or illegally using digital currency< 2. Non repeated spending: digital currency can only be used once, and repeated spending can be easily detected
3. Controllable anonymity: banks and businesses collude with each other and can't track the use of digital currency, which requires that the system can't link the purchase behavior of e-cash users, so as to conceal the purchase history of digital currency users, but the issuer of digital currency can track the use of digital currency
4. Unforgeability: digital currency that users cannot fake
5. Fairness: the payment process is fair, which ensures that either the two parties succeed in the transaction, or both parties have no losses, so as to prevent one of the parties from suffering losses in the transaction
6. Compatibility: the issue process and circulation of digital currency in d-rmb system should refer to the issue and circulation of physical currency as far as possible
as for digital currency, it should be able to adapt to various use scenarios of existing currency and be freely convertible with existing currency
this patent provides a digital currency system, including central bank digital currency system, commercial bank digital currency system, and authentication system
among them, the central bank's digital currency system is used to generate and issue digital currency, and to register the ownership of digital currency; The digital currency system of commercial banks is used to perform banking functions for digital currency; The authentication system is used to provide authentication for the interaction between the central bank digital currency system and the terminal equipment used by the users of the digital currency, and for the interaction between the central bank digital currency system and the commercial bank digital currency system
schematic diagram of the basic structure of the digital currency system
to achieve a convenient and safe digital currency system, and can be applied to a variety of application scenarios of digital currency in reality< How to convert digital currency into cash[ Invention patent] method and system for converting digital currency into physical cash, The digital currency system of the commercial bank sends the digital currency to the central bank digital currency system, the central bank digital currency system generates a one-time withdrawal code, and then sends it to the user terminal equipment for presentation to the user, and changes the owner information of the digital currency from the user to the central bank
the digital currency system of the commercial bank sends the one-time withdrawal code provided by the user to the digital currency system of the central bank. The digital currency system of the central bank confirms that the one-time withdrawal code is valid, and then increases the cash amount of the commercial bank account, and sends a notice to the digital currency system of the commercial bank that the one-time withdrawal code is valid, After receiving the notice, the digital currency system of commercial banks issues a contribution instruction, in which the contribution instruction is used to control the machine or prompt the user to pay the cash whose amount is equal to the cashed amount manually<
schematic diagram of a method of converting digital currency into physical cash
How can digital currency be consumed online? --[ Invention patent] method and system of online payment using digital currency chip card
this patent is a method and system of online payment using digital currency chip card. A method for online payment using digital currency chip card is provided. The method includes: a user terminal device sends payment information to an acceptance terminal device, and the payment information includes digital currency chip card information and digital currency equivalent to the payment amount; After receiving the payment information, the receiving terminal sends the payment information to the digital currency system of the commercial bank; After receiving the payment information, the digital currency system of the commercial bank sends a request to change the owner to the digital currency system of the central bank; The central bank digital currency system changes the owner of the digital currency to the merchant's commercial bank code after receiving the request to change the owner; The digital currency system of commercial banks changes the account amount of merchants<
the method flow chart of online payment with digital currency chip card in recent years, the commercial virtual currency has been controversial, and more and more people realize that the future development trend of digital currency is legal digital currency issued by central banks based on national credit. At present, China is still in the stage of accelerating the research and development of digital currency. For example, the central bank held a working video conference in the second half of 2019 on August 2, calling for "accelerating the pace of research and development of China's legal digital currency". Recently, the "opinions of the CPC Central Committee and the State Council on supporting Shenzhen to build a leading demonstration zone of socialism with Chinese characteristics" clearly stated that "We support the development of innovative applications such as digital currency research and mobile payment in Shenzhen". Let's wait and see when digital currency will meet you.
some patents of the digital currency Research Institute of the people's Bank of China (data source: huijuyun)
what is digital currency? --[ Invention patent] digital currency system
cloud computing is the mainstream direction of the future back-end server, and the digital currency back-end system adopts cloud based solutions
in e-commerce activities, e to different roles, the requirements for digital currency are different: customers require digital currency to be easy to use, safe to store and anonymous; Businesses require digital currency to be certifiable and can be converted into real currency; Banks require that digital currency cannot be illegally used or forged. Therefore, digital currency d-rmb should have the following characteristics:
1. Security: it can prevent any party in business from changing or illegally using digital currency< 2. Non repeated spending: digital currency can only be used once, and repeated spending can be easily detected
3. Controllable anonymity: banks and businesses collude with each other and can't track the use of digital currency, which requires that the system can't link the purchase behavior of e-cash users, so as to conceal the purchase history of digital currency users, but the issuer of digital currency can track the use of digital currency
4. Unforgeability: digital currency that users cannot fake
5. Fairness: the payment process is fair, which ensures that either the two parties succeed in the transaction, or both parties have no losses, so as to prevent one of the parties from suffering losses in the transaction
6. Compatibility: the issue process and circulation of digital currency in d-rmb system should refer to the issue and circulation of physical currency as far as possible
as for digital currency, it should be able to adapt to various use scenarios of existing currency and be freely convertible with existing currency
this patent provides a digital currency system, including central bank digital currency system, commercial bank digital currency system, and authentication system
among them, the central bank's digital currency system is used to generate and issue digital currency, and to register the ownership of digital currency; The digital currency system of commercial banks is used to perform banking functions for digital currency; The authentication system is used to provide authentication for the interaction between the central bank digital currency system and the terminal equipment used by the users of the digital currency, and for the interaction between the central bank digital currency system and the commercial bank digital currency system
schematic diagram of the basic structure of the digital currency system
to achieve a convenient and safe digital currency system, and can be applied to a variety of application scenarios of digital currency in reality< How to convert digital currency into cash[ Invention patent] method and system for converting digital currency into physical cash, The digital currency system of the commercial bank sends the digital currency to the central bank digital currency system, the central bank digital currency system generates a one-time withdrawal code, and then sends it to the user terminal equipment for presentation to the user, and changes the owner information of the digital currency from the user to the central bank
the digital currency system of the commercial bank sends the one-time withdrawal code provided by the user to the digital currency system of the central bank. The digital currency system of the central bank confirms that the one-time withdrawal code is valid, and then increases the cash amount of the commercial bank account, and sends a notice to the digital currency system of the commercial bank that the one-time withdrawal code is valid, After receiving the notice, the digital currency system of commercial banks issues a contribution instruction, in which the contribution instruction is used to control the machine or prompt the user to pay the cash whose amount is equal to the cashed amount manually<
schematic diagram of a method of converting digital currency into physical cash
How can digital currency be consumed online? --[ Invention patent] method and system of online payment using digital currency chip card
this patent is a method and system of online payment using digital currency chip card. A method for online payment using digital currency chip card is provided. The method includes: a user terminal device sends payment information to an acceptance terminal device, and the payment information includes digital currency chip card information and digital currency equivalent to the payment amount; After receiving the payment information, the receiving terminal sends the payment information to the digital currency system of the commercial bank; After receiving the payment information, the digital currency system of the commercial bank sends a request to change the owner to the digital currency system of the central bank; The central bank digital currency system changes the owner of the digital currency to the merchant's commercial bank code after receiving the request to change the owner; The digital currency system of commercial banks changes the account amount of merchants<
the method flow chart of online payment with digital currency chip card in recent years, the commercial virtual currency has been controversial, and more and more people realize that the future development trend of digital currency is legal digital currency issued by central banks based on national credit. At present, China is still in the stage of accelerating the research and development of digital currency. For example, the central bank held a working video conference in the second half of 2019 on August 2, calling for "accelerating the pace of research and development of China's legal digital currency". Recently, the "opinions of the CPC Central Committee and the State Council on supporting Shenzhen to build a leading demonstration zone of socialism with Chinese characteristics" clearly stated that "We support the development of innovative applications such as digital currency research and mobile payment in Shenzhen". Let's wait and see when digital currency will meet you.
9. Electronic contract is an agreement between two or more parties in the form of electronic information network to establish, change and terminate the relationship of property civil rights and obligations
(the core is how to ensure that a valid electronic contract is signed? Several key points of effective electronic contract: signing time, content should be confidential, content can not be tampered with, signer is clear)
in essence, electronic contract still belongs to the scope of contract, but there are many differences between electronic contract and paper contract, resulting in many new legal problems, and the problem of proving the legal effect of electronic contract arises
legal interpretation of the validity of electronic contracts
1. What are the effective forms of contracts< Article 10 of Chapter II of the contract law
the parties may conclude a contract in written, oral or other forms. Where the written form is prescribed by laws or administrative regulations, it shall be in written form. If the parties agree to adopt a written form, the written form shall be adopted< Article 11 of Chapter II of the contract law:
written form refers to the form of contract, letter and data message (including telegram, telex, fax, electronic data exchange and e-mail) that can express the contents of the contract
explanation: a contract in the form of data message is a written contract just like a traditional paper contract, which recognizes the legal validity of the form of electronic contract from the legal level The contract law provides five forms of data message: telegram, telex, fax, EDI and e-mail
Article 2 of Chapter I of the electronic signature law:
the term "electronic signature" as used in this Law refers to the data contained in and attached to a data message in electronic form, which is used to identify the identity of the signer and indicate the signer's approval of its contents
data message in this Law refers to the information generated, sent, received or stored by electronic, optical, magnetic or similar means
explanation: the definition of data message in electronic signature law is more essential. Electronic signature is not a simple symbol or stamp form, but a legal concept, that is, only when certain conditions are met to form a data electronic document can it have legal effect and become a reliable electronic signature
2. Does electronic signature have the same legal effect as handwritten signature or seal
Article 14 of Chapter 3 of the electronic signature law:
a reliable electronic signature has the same legal effect as a handwritten signature or seal
what is a reliable electronic signature< According to the law of the people's Republic of China on electronic signature, if an electronic signature meets the following conditions at the same time, it shall be regarded as a reliable electronic signature:
(1) when the proction data of the electronic signature is used for the electronic signature, it belongs to the exclusive property of the electronic signer
(2) when signing, the data of electronic signature creation is only controlled by the electronic signer
(3) any changes to the electronic signature after signing can be found
(4) any changes to the content and form of the data message can be found after signing
the parties can also choose to use the electronic signature that meets their agreed reliable conditions
explanation: digital signature is the basic technology at the bottom of electronic signature technology, which is a technical term rather than a legal term. However, the law does not clearly stipulate that digital signature is the only technology that can realize electronic signature, but it also does not clearly stipulate that other technologies can realize electronic signature. Therefore, digital signature is a relatively recognized technology to achieve electronic signature, so laws and regulations do not define digital signature
summary: the two laws have clearly defined the legal validity and specific requirements of electronic signature and electronic contract. Next, let's look at several other concepts related to how to ensure reliable electronic signatures
how to sign an electronic contract with legal effect
through the previous introction, you must feel that signing an electronic contract is very complicated. In the real environment, we can hardly achieve such legal requirements. Don't worry, the value of the third-party electronic signing platform will appear at this time, Contract lock can solve all the problems in the process of electronic contract signing
what is a third party e-signing platform
the so-called third-party e-signing service platform: using various technologies to make the use of e-signature as convenient and secure as the use of entity signature. Its core responsibilities are mainly to act as an agent for the contract signer to interact with authoritative certification authority and trusted timestamp service center to complete identity authentication, digital certificate application, file encryption and decryption using public key and private key Hash function algorithm is used to protect files from tampering, in addition to stamping time stamp, electronic contract storage and anti tampering in the process of transmission, which simplifies the operation service platform for contract signers to sign effective electronic contracts and makes it convenient for all parties to sign electronic contracts effectively.
(the core is how to ensure that a valid electronic contract is signed? Several key points of effective electronic contract: signing time, content should be confidential, content can not be tampered with, signer is clear)
in essence, electronic contract still belongs to the scope of contract, but there are many differences between electronic contract and paper contract, resulting in many new legal problems, and the problem of proving the legal effect of electronic contract arises
legal interpretation of the validity of electronic contracts
1. What are the effective forms of contracts< Article 10 of Chapter II of the contract law
the parties may conclude a contract in written, oral or other forms. Where the written form is prescribed by laws or administrative regulations, it shall be in written form. If the parties agree to adopt a written form, the written form shall be adopted< Article 11 of Chapter II of the contract law:
written form refers to the form of contract, letter and data message (including telegram, telex, fax, electronic data exchange and e-mail) that can express the contents of the contract
explanation: a contract in the form of data message is a written contract just like a traditional paper contract, which recognizes the legal validity of the form of electronic contract from the legal level The contract law provides five forms of data message: telegram, telex, fax, EDI and e-mail
Article 2 of Chapter I of the electronic signature law:
the term "electronic signature" as used in this Law refers to the data contained in and attached to a data message in electronic form, which is used to identify the identity of the signer and indicate the signer's approval of its contents
data message in this Law refers to the information generated, sent, received or stored by electronic, optical, magnetic or similar means
explanation: the definition of data message in electronic signature law is more essential. Electronic signature is not a simple symbol or stamp form, but a legal concept, that is, only when certain conditions are met to form a data electronic document can it have legal effect and become a reliable electronic signature
2. Does electronic signature have the same legal effect as handwritten signature or seal
Article 14 of Chapter 3 of the electronic signature law:
a reliable electronic signature has the same legal effect as a handwritten signature or seal
what is a reliable electronic signature< According to the law of the people's Republic of China on electronic signature, if an electronic signature meets the following conditions at the same time, it shall be regarded as a reliable electronic signature:
(1) when the proction data of the electronic signature is used for the electronic signature, it belongs to the exclusive property of the electronic signer
(2) when signing, the data of electronic signature creation is only controlled by the electronic signer
(3) any changes to the electronic signature after signing can be found
(4) any changes to the content and form of the data message can be found after signing
the parties can also choose to use the electronic signature that meets their agreed reliable conditions
explanation: digital signature is the basic technology at the bottom of electronic signature technology, which is a technical term rather than a legal term. However, the law does not clearly stipulate that digital signature is the only technology that can realize electronic signature, but it also does not clearly stipulate that other technologies can realize electronic signature. Therefore, digital signature is a relatively recognized technology to achieve electronic signature, so laws and regulations do not define digital signature
summary: the two laws have clearly defined the legal validity and specific requirements of electronic signature and electronic contract. Next, let's look at several other concepts related to how to ensure reliable electronic signatures
how to sign an electronic contract with legal effect
through the previous introction, you must feel that signing an electronic contract is very complicated. In the real environment, we can hardly achieve such legal requirements. Don't worry, the value of the third-party electronic signing platform will appear at this time, Contract lock can solve all the problems in the process of electronic contract signing
what is a third party e-signing platform
the so-called third-party e-signing service platform: using various technologies to make the use of e-signature as convenient and secure as the use of entity signature. Its core responsibilities are mainly to act as an agent for the contract signer to interact with authoritative certification authority and trusted timestamp service center to complete identity authentication, digital certificate application, file encryption and decryption using public key and private key Hash function algorithm is used to protect files from tampering, in addition to stamping time stamp, electronic contract storage and anti tampering in the process of transmission, which simplifies the operation service platform for contract signers to sign effective electronic contracts and makes it convenient for all parties to sign electronic contracts effectively.
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