Application risk of blockchain in banking system

1.

Although driven by the influx of capital and talents, the blockchain instry ushered in rapid development, but as an emerging instry, the frequent warning of its security vulnerabilities caused people to worry about the risk of blockchain

Yu Kequn, director of the national information technology security research center, pointed out that the emergence of blockchain has brought people a lot of expectations for privacy exposure, data leakage, information tampering, network fraud and other issues. However, there are still many challenges in the security of blockchain

Li Bin, assistant director of China Information Security Evaluation Center, analyzed that the current blockchain is divided into three types: public chain, private chain and alliance chain. No matter which type, it faces security challenges in algorithm, protocol, use, time limit and system. What is particularly critical is that the current blockchain is still facing 51% attack problem, that is, nodes can successfully tamper and forge blockchain data by mastering more than 51% of the network examples

it is worth noting that in addition to external malicious attack risk, blockchain also faces the threat of its endogenous risk. Yu Kequn reminded that how to build a complete security application system around the equipment, data, application, encryption, authentication and authority of the application system of the whole blockchain is an important problem that all parties must face

Wu Jia also analyzed that as an emerging instry, employees in the blockchain instry are lack of safety awareness, which leads to the low safety factor of the software and hardware related to the blockchain and a large number of security loopholes. In addition, there are many ecological links in the whole blockchain. In contrast, the strength of the relevant security employees is scattered and it is difficult to form a joint force to solve the problem. A systematic solution is needed to meet the above challenges

content source: zhongxin.com

2. You mean digital currency? Digital currency based on blockchain technology has good performance in operation security, but it also exposes many problems. Most governments are cautious or resistant to the current non legal digital currency, and the research on legal digital currency continues to improve. The main risk is that there is no commercial application foundation and it can't be realized. Honghua coin has done a good job in this aspect. He has cooperated with Chinese people all over the world to realize the decentralization of enterprises, so we can learn more about it.

3. 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.

4. Blockchain is a technology that can completely change the underlying design of the financial system, because it can realize the undifferentiated record between the ownership of all assets in the market and the transaction records of all market participants, so it can completely eliminate the intermediate links of clearing and trusteeship, which are used to confirm the ownership before, ring and after the transaction; In addition, as an electronic information record, blockchain can be combined with computer algorithm to realize the automation of transactions, that is, intelligent contract. There are many derivative applications of blockchain combined with other financial technologies, each of which can replace a kind of market intermediary. Blockchain is to financial services what TCP / IP is to the Internet: once the underlying standards are recognized and popularized, specific applications like bitcoin and R3 will appear in every corner of financial services. Bitcoin uses blockchain technology to query and record. For example, if I register an account in haobtc and transfer the money, I need to query the status in the block browser in the account or the block browser in BTC. In this way, the blockchain technology helps me solve the problem of daily transfer currency query.

5. There are two roles and four moles in the cross-border payment solution based on euz. The two main roles are the gateway and customer participating in the euz payment. They are as follows:
the first role is gateway, which can be bank, market maker, liquidity provider, etc. The main function of the gateway is to let the legal assets in reality enter the blockchain payment and settlement network
the second role is customers, which can be all kinds of international trade customers. Customers are the parties involved in the blockchain payment transaction, and jointly participate in the confirmation of transaction information. In the process of transaction, once either party does not confirm the transaction, the transaction cannot be formally effective. Through this common verification, the risk of information opacity is greatly avoided, and the risk of cross-border payment in international trade is reced
the four functional moles in blockchain payment and settlement are the core business logic moles in cross-border payment
the first function mole is network connector. It is a tool to help all kinds of institutions access blockchain payment network as gateway. Network connector is a "plug and play" function mole, which can be integrated with the existing international payment and settlement system, so that banks can process cross-border payment business through blockchain. The mole is connected with the remitting bank and the receiving bank to exchange personal information, expenses, delivery details, payment details, etc. After the system confirms the transaction information of both parties, the mole connects the blockchain payment ledger for settlement processing, and notifies all parties to confirm the transaction
the second function mole is blockchain payment ledger. Banks, market makers, etc. access blockchain payment books as nodes
the third function mole is the market maker client. The market maker submits digital assets to the blockchain payment account book, and the settlement platform can realize the function of market maker through internal exchange settlement or integration into the blockchain payment network through this mole
the fourth function mole is transaction client. Customers can directly operate blockchain payment settlement through the client.

6. Chongqing jinwowo analysis: blockchain also comes with the technology of transaction confirmation. To realize the automatic confirmation of movable property rights for all participants in the supply chain, and form a common non tamperable record on the block chain, so as to solve the pain points in the existing right registration and right realization.

7. Hello, there is a public service platform of SMIC blockchain (Changsha) in 2020, which seems to have cooperated with Bank of Changsha.
it is an application case of bank blockchain in Hunan, you can check more information to understand
hope to help you.

8. According to the analysis of jinwowo network technology, blockchain has become one of the hottest words. Blockchain has the core advantages of decentralization and distrust, which can perfectly solve the problems of information asymmetry, high transaction cost and stranger trust in the development of sharing economy, making "indivial economy" possible
based on this, blockchain technology is considered to be the core technology with the most potential to trigger the fifth round of disruptive revolution after steam engine, power, information and Internet technology.