Blockchain and government regulation

1. In essence, all the relevant information needed by government affairs will be recorded on the blockchain. Information quality can be traced, and many information data do not need to be submitted repeatedly, let alone need to be reviewed repeatedly by different government departments. Now there is a good application of blockchain + government affairs, which is called SMIC blockchain public service platform. You can pay attention to it.

2. The subversive characteristics of blockchain lie in the following four aspects: first, transparency. The data record of the blockchain system is transparent to the nodes of the whole network, and the update operation of the data record is also transparent to the nodes of the whole network, which is the basis of the trustworthiness of the blockchain system. Because the blockchain system uses open source programs, open rules and high participation, the data records and operation rules of the blockchain can be reviewed and traced by the nodes of the whole network, with high transparency< Second, openness. The blockchain system is open. In addition to the fact that the private information of the parties directly related to the data is always encrypted, the data of the blockchain is open to all (except the blockchain system with special permission requirements). Anyone or participating nodes can query blockchain data records or develop related applications through the open interface, so the information of the whole system is highly transparent< Third, information can not be tampered with. Once the information of the blockchain system is verified and added to the blockchain, it will be permanently stored and cannot be changed (except for private blockchain systems with special change requirements). Unless more than 51% of the nodes in the system can be controlled at the same time, the modification of the database on a single node is invalid, so the data stability and reliability of the blockchain are extremely high
Fourth, decentralization. Decentralization is the most basic feature of the blockchain, which means that the blockchain no longer depends on the central processing node and realizes the distributed recording, storage and updating of data. In the traditional centralized network, attacking a central node can destroy the whole system, while in a decentralized blockchain network, attacking a single node cannot control or destroy the whole network. More than 5% of the nodes in the master network are just the beginning of gaining control. 2019 is the first year for the commercial application of blockchain technology, and the stimulation of favorable policies will make the development of blockchain technology more stable
with the application of blockchain technology graally penetrating into many fields such as digital finance and Internet, we have a clearer understanding of the value of blockchain
blockchain has formed a situation of global competition, and all countries are seizing the development opportunities, let alone China; Therefore, there is no doubt that blockchain has become a national strategy.

3. I don't know about other things. Anyway, I've been shopping in a certain treasure. I don't want to be distracted from other things. Anyway, if I have a little money, there are few detours, and I'm satisfied without falling

4. Blockchain solution:
(1) in the payment initiation stage: in KYC (anti money laundering authentication), the identity information of the remitter can be put into the chain, and the trust between the payer and the bank (or remittance institution) can be established by means of electronic identity file, We can also define the rights and obligations of transfer behavior between payers through smart contract
(2) in the stage of fund transfer: all behaviors in the process of fund transfer, including identification of both parties, confirmation of exchange rate, transfer amount, transfer time, payment terms and other information, can be carried out through the smart contract, which can realize real-time transfer without delay, and does not need the participation of the agent bank to rece the intermediate cost
(3) in the fund delivery stage: according to the smart contract, it will be automatically deposited into the payee's account after the agreed time, or the payee will be allowed to withdraw after KYC authentication process by the receiving bank
(4) in the regulatory phase: no effort is needed to write a report. Since the information on the blockchain is tamperable and traceable, all relevant transaction information can be found in the blockchain. Regulators can review at any time, or even meet the needs of continuous review
at present, bitcoin and Ethereum are more oriented to technology geeks and indivial users. The future value of blockchain must be realized at the enterprise level, and the enterprise's demand for blockchain is ultimately implemented in terms of security, stability and ease of use
security is easy to understand. After all, the data running on the blockchain in the future are the assets of the enterprise, so the enterprise's requirements for security are the first. The recent theft of Ethernet and bitcoin has brought great pressure to enterprise users
stability is also crucial to enterprise application scenarios. The bifurcations of bitcoin in enterprise applications should be eliminated and unacceptable
ease of use is the biggest obstacle to the implementation of blockchain in enterprises. Many enterprises lack sufficient blockchain developers and development tools, and the business analysis and demand analysis of blockchain are vague, which makes it difficult to make decisions on blockchain projects.

5. In other words, we should establish the regchain, supervise the blockchain instry with the help of
blockchain
technology, and establish the framework of
financial supervision
from bimodal to
two-dimensional. Now the blockchain is developing more and more, and not only in the financial instry,
Changsha high tech Zone
has launched a SMIC blockchain service platform project, which is a blockchain + public service mode, and is soliciting enterprises to join the chain

6. Regulatory Technology (regtech), like financial technology, is a new hybrid word in recent two years. Regulatory technology is composed of regulation and technology. IIF defines it as a new generation of technology application that can effectively solve regulatory and compliance requirements. It is believed that with the maturity and popularization of blockchain technology, regulatory technology will play an increasingly important role in the field of financial regulation
faced with the changing regulatory environment, financial institutions have become a heavy burden to invest in compliance costs and increase the amount of fines. From 2012 to 2014, JPMorgan spent $600 million to recruit 13000 employees to deal with financial regulation. At the same time, for regulators, increasingly stringent and escalating financial compliance requirements make regulatory data increasingly diverse and huge
improving real-time data processing, data analysis and automation has become an important demand in the financial field. Regulatory technologies such as blockchain, artificial intelligence, cloud computing, machine learning and big data are used to automatically collect fixed and non fixed data, efficiently analyze customer identity management, compliance, risk prediction, real-time transaction monitoring, data and internal management, and put forward risk prediction results report. That is to say, regulatory technology makes financial regulatory business it, which can improve the level of regulatory operation and effectively prevent financial risks.

7. Chongqing jinwowo analysis blockchain system is open. In addition to the private information of all parties involved in the transaction is encrypted, the data of the blockchain is open to all. Anyone can query the blockchain data and develop related applications through the open interface, so the information of the whole system is highly transparent.

8. There are both favorable policies and regulatory policies. It should be said that the two cannot be separated. They are both for the better development of blockchain. Now there are a lot of blockchain applications. Changsha high tech Zone has officially launched a blockchain project, which is called SMIC blockchain service platform. It is a government enterprise service platform. It cooperates with Bank of Changsha and Dean justice, and now it is the stage of collecting enterprises to go on the chain.

9. One of the things that can be achieved by embracing regulation is that all users of online transactions, including regulators, financial institutions and users, need to carry out strict real name authentication, that is, strict KYC. The next step is to set different permissions according to the real transaction needs. For example, the regulatory authorities have the highest authority, and the financial institutions set permissions according to the actual needs of laws and regulations
in this way, supervision can be well realized. First, all operations are real names. Now many public chain operations are non real names, and many loopholes can be drilled. People lose money every day. Second, in this way, the blockchain can be used as an online backup of financial transactions, truly realizing transactions on the chain.