International factoring blockchain bank
at present, some well-known financial institutions in the world have begun to pay attention to blockchain and have carried out corresponding research and development. But banks will only make use of blockchain and will never let blockchain replace themselves
the underlying technologies of bitcoin, Ruitai and Laite are blockchain, but no one can replace the bank.
As a traditional financial institution, banks are the most active Pathfinder in the field of blockchain. In recent years, many banks at home and abroad have applied blockchain technology to credit, clearing and other fields. The unique trust mechanism of blockchain is regarded by banks as a key technological breakthrough in innovating risk management and simplifying transaction process. However, as an emerging technology, blockchain ecology is still in the process of establishment, and its application is very limited. Many problems still need to be solved graally in the development
"at present, blockchain can't run high-frequency and concurrent transactions, and network speed and computing power can't support it. For example, in the field of payment, if it is online shopping, it can be realized; If it's high-frequency futures trading, it can't be done. " Huang Zhen said
JIANG Peng said that at the beginning of designing the blockchain system, China CITIC Bank carefully demonstrated the business links suitable for the use of blockchain
"from the global experience, it is not suitable to use blockchain to build a large and complex system. Instead of trying to solve all problems with blockchain, we should focus on solving the core problems. It's time-consuming to build a too complex system. The technology is developing so fast that before the old system is finished, it will face the iteration of new technology. " Jiang Peng said
the idea of "only solving core problems" ensures that after the blockchain goes online, the relevant business operations of branches of China CITIC Bank can be upgraded without process transformation
Fan Bin said frankly that it will take time for banks to fully apply the blockchain, and IBM's investment in the blockchain open source community will continue, on the one hand to cultivate the market, on the other hand to compete for the commanding height of the blockchain platform. With the rapid iteration of blockchain technology itself, there is still a lot of imagination for financial institutions to use this new technologythe content comes from Xinhuanet
China has started to establish a national standard for blockchain to promote the construction of blockchain standard system from top-level design, which is expected to be completed by the end of 2019 at the earliest
in this regard, Zhao Wu, founder of Beijing Huashun Xin'an Technology Co., Ltd., also said that although the blockchain has disruptive technology potential, we must realize that the blockchain is still in its infancy, far from reaching the stage of subverting the world
Yu Kequn stressed that the independent and controllable blockchain network is intended not to be controlled by others technically, but also to promote the healthy development of blockchain. Security is the future life of blockchain. Only its own security can make blockchain technology landing. This requires us to pay equal attention to the development of blockchain technology and its security attributes, even ahead of timein this regard, Li Ming also said that an important part of the standard is the information security standard, which can also see the importance of security to blockchain technology. He also pointed out that the development of blockchain standards does not mean that it will rapidly promote the development of the instry, but give the instry certain guidance. Previously, China has suffered a lot in terms of international intellectual property rights and standards. In terms of blockchain, China has formed more than 200 patents in terms of international blockchain, and even stands in the forefront of world technology. Therefore, we also need to firmly grasp our right to speak
content source: Xinhuanet
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.
Yes, the current deception is not surprising. In short, you should be more careful
with the rapid development of mobile communication, online dating has become a widespread form of communication, but there are some sweet traps set by outlaws. How to avoid being cheated in the complicated virtual space, so as to avoid unnecessary property losses
for example, he said that in his uncle's home in Taiwan, he sent a table of food, enlarged the picture, and you can see the logo of the drink, which is obviously a mainland brand, which needs to be seen carefully
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
Horgos Yijian blockchain commercial factoring Co., Ltd. is another limited liability company incorporated on October 17, 2017, with its registered address at No. 828, Qirui building, 28 Yaou Road, Horgos, Yili, Xinjiang
the unified social credit code / registration number of Horgos Yijian blockchain commercial factoring Co., Ltd. is 91654004ma77ntjj71, and the enterprise legal person is Chang Chun. At present, the enterprise is in business
the business scope of Horgos Yijian blockchain commercial factoring Co., Ltd. is to provide trade financing in the form of transferred accounts receivable; Collection, payment and settlement, management and collection of accounts receivable; Sales sub account (ledger) management; Non commercial bad debt guarantee related to the company's business; Customer credit investigation and evaluation; Related consulting services; Other businesses permitted by laws and regulations Projects that need to be approved according to law can be operated only after being approved by relevant departments)
check more information and information of Horgos easy to see blockchain commercial factoring Co., Ltd. through aiqicha