Development of blockchain technology in China

1. blockchain is a kind of technology. "In the simplest and most popular way, blockchain technology is everyone bookkeeping, or distributed ledger."
in the Internet era, there is a database behind every system. This database can be regarded as a large account book. In the past, the person who maintained the system was responsible for managing the database and recording the user's behavior, that is, bookkeeping. However, the blockchain is "decentralized", which allows every member of the system to participate in it, not only everyone bookkeeping, but also through links, Everyone can have a complete account book
"blockchain is essentially a collective recording mode. What's special is that it adopts a set of techniques in an ingenious way to realize the authenticity and credibility of the recorded results, which is difficult to destroy and tamper with. " Zhang Xiaorong said, "first, everyone has the right to record and authenticate with each other to distinguish the true from the false, which is called consensus mechanism; Second, no one can tamper with the records, because there are cryptographic signatures; Third, everyone has a , so even if some account books are damaged, the whole will not be affected. This is called distributed storage. The information recorded in this way is presented in block mode according to the time chain, so it is called blockchain. "
various cryptocurrencies represented by bitcoin are originally an application of blockchain technology, which can be described as blockchain version 1.0. However, around 2014, the instry began to realize the important value of blockchain technology. Blockchain graally separated from digital currency and applied to various economic and social fields other than digital currency
it has broad application prospects
blockchain technology is considered as a disruptive innovation after steam engine, electric power and Internet. If the steam engine and electricity liberate the proctivity, and the Internet has changed the way of information transmission, the blockchain, as a machine for building trust, may change the way of value transmission
for example, in the financial field, the cost of reconciliation, clearing and settlement between financial institutions, especially cross-border financial institutions, has always been very high, and there are complex manual processes. The application of blockchain technology can help rece the cost of reconciliation and dispute resolution between financial institutions, and significantly improve the processing speed and efficiency of payment business, It also makes small cross-border payments possible. In December 2017, China Merchants Bank completed the RMB position transfer business from Hongkong Wing Lung Bank to Shenzhen Branch of Wing Lung Bank. This is the world's first interbank cross-border RMB clearing business based on blockchain technology
in addition, according to the white paper 2016 on China's blockchain technology and application development issued by the Ministry of instry and information technology of China, the application of blockchain has been extended to medical and health, ecation, charity, social management and other fields. Taking the cultural instry as an example, the low cost of reproction, the high cost of safeguarding rights, and the difficulty of providing evidence make the protection of intellectual property rights a pain point for the instry. With blockchain, the proction, dissemination and transaction records of cultural procts are true, transparent and reliable, and the problem can be solved
Zhang Xiaorong said that blockchain technology has solved two major problems in the era of Digital Economy: one is the visible flow direction, and the other is zero trust cost. In the past, the circulation of physical paper money was invisible, but the flow of all digital assets had a "chain" to check. Yang Yanchao, a researcher at the intellectual property center of the Chinese Academy of Social Sciences, also believes that the biggest advantage of blockchain is that it has truly completed the credit construction in an anonymous society, bringing new opportunities to many fields, thus making various innovative applications possible
there is a long way to go in the future development
in terms of technology promotion, there is no big barrier to blockchain, which has been confirmed in the global practice of bitcoin, and its main resistance comes from the obstacles in concept and implementation
"on the one hand, the society may be very concerned about the" naked "state in the blockchain. Blockchain has built a "Skynet" for the commercial society. The company's economic activities are all recorded, so there is no secret to speak of. In this way, some business strategies may not be implemented under the blockchain. "
"on the other hand, the current legal system lags behind the development of information technology, so how to put the emerging blockchain technology under the legal supervision needs to be studied." Duan Yongchao said
the core of blockchain is decentralization, which will have an impact on the long-standing central management model. In addition to the law, how to establish a regulatory environment that can promote the application of blockchain technology, so that the technology can benefit the society and not be used to do evil, is also an urgent problem to be solved.

2. Blockchain instry has great growth potential. Five aspects promote the healthy development of technology. Blockchain basic situation analysis blockchain technology, as a technical solution for collective maintenance of a reliable database in a decentralized way, has the characteristics of decentralization, tamper proof, highly scalable, etc., and is becoming a new technology following big data, cloud computing, artificial intelligence Virtual reality and other technologies are another emerging technology that will have a significant impact on the future, which is expected to promote human beings from the era of information internet to the era of value Internet. Some countries and regions in the United States, Japan and the European Union have promoted the development of blockchain as an important national development strategy, and vigorously promoted the research and development and application of blockchain technology. China also attaches great importance to the technological innovation and instrial development of blockchain. With the joint participation of it and other enterprises, a large number of new enterprises, new procts, new models and new applications have emerged. The application of blockchain in the fields of finance, government affairs, energy, medical and other instries has graally expanded, and is becoming an important force to drive the technological proct innovation and instrial transformation of various instries. The development of blockchain can be divided into three stages, namely, blockchain 1.0, represented by bitcoin and related financial infrastructure applications, and blockchain 2.0, represented by smart contract. At present, it is graally moving towards blockchain 3.0, which is based on blockchain technology and more complex in-depth application of smart contract. Statistical analysis of blockchain investment and financing in the first half of the year since 2016, the frequency and amount of investment and financing in China's blockchain field have increased sharply. According to the statistical data of "in depth analysis report on business model innovation and investment opportunities of blockchain instry" released by foresight Instry Research Institute, in the first half of 2018, the amount of financing in the blockchain field was about 10.7 billion, with a year-on-year growth rate of 1426% compared with the same period in 2017; The number of investment and financing events in the field of blockchain has reached 205, and it is expected that the investment in the field of blockchain will usher in another peak this year. Judging from the distribution of investment and financing rounds in China's blockchain field, the investment rounds in the start-up period (before round b) account for more than 95%. There are many instry pioneers participating in the investment together, and most enterprises are still in the race. Statistics and growth of blockchain investment and financing in the first half of 2014-2018 data source: prospective instry research institute collated the statistical analysis of Chinese blockchain enterprises and registered capital. In 2013 and before, there were only 26 blockchain related enterprises registered in China. In 2016, 116 blockchain enterprises were registered, 158 were registered in 2017, and 52 were registered from January to the end of June 2018. In terms of registered capital, there are 26 enterprises in China whose registered capital is less than 1 million yuan, accounting for about 6%; 197 companies have registered capital between 1 million yuan and 9.99 million yuan, accounting for about 46%; There are 171 companies with registered capital between 10 million yuan and 100 million yuan, accounting for about 40%; There are 31 companies with more than 100 million yuan, accounting for about 7%. Statistics on the enterprises and registered capital of China's blockchain enterprises from January to June 2013-2018 data source: prospective instry research institute collates the statistics of China's blockchain enterprises in terms of regions and fields. Among the 425 blockchain enterprises, 385 enterprises are gathered in Beijing, Shanghai, Guangdong, Zhejiang, Sichuan and Jiangsu, accounting for 90% of the total. Among them, Beijing has the largest number of enterprises, accounting for about 37% of the country. In terms of instry, China's blockchain enterprises are mainly distributed in the fields of finance, bottom public chain, enterprise services, technical solutions, data services, health care, Internet of things, transportation, games, etc. Among them, 91 enterprises are engaged in the financial field, accounting for more than 21%. China's blockchain enterprise field distribution statistics data source: prospective instry research institute collates that China attaches great importance to the development and application of blockchain technology. Driven by multiple forces such as policy, technology and market, the pace of blockchain innovation has been accelerating. It has been deeply integrated with cloud computing, big data, Internet of things and other technologies. The scope of exploration and application has also expanded from digital assets to supply chain management, intelligent manufacturing, instrial Internet, social welfare, right protection and other fields. Five aspects to promote the healthy development of blockchain technology, and promote the high-quality development of digital economy. 1. Pay close attention to the international development frontier, jointly promote the research of blockchain related technology and instry, promote the standardization of blockchain development instry behavior, and create a good development environment. 2. Strengthen the construction of blockchain core technology capabilities. Establish and improve the collaborative promotion mechanism among backbone enterprises, universities and research institutions, guide it enterprises to strengthen technical reserves, accelerate the breakthrough of key core technologies, and improve the performance, efficiency and security of blockchain. 3. Support the development of entrepreneurship and innovation in the field of blockchain, encourage the cross-border integration of blockchain enterprises and user units, guide instry organizations to establish public service platforms, support third-party organizations to carry out blockchain service evaluation and testing, promote the enrichment of instrial applications of blockchain, and serve the transformation and upgrading of entity economy. 4. Actively build and improve the blockchain standard system, accelerate the development and application of key standards, and graally build a perfect standard system. Actively connect with ITU, ISO and other international standards organizations, substantially participate in more international standardization work, and actively contribute more "Chinese power". 5. We will accelerate the improvement of the policy environment for blockchain development, support qualified enterprises to carry out application innovation and mode innovation, and guide and encourage enterprises, universities and scientific research institutes to jointly cultivate professionals needed for blockchain development. Support eligible blockchain enterprises to enjoy the preferential tax policies of the state to support the development of software instry and small and medium-sized enterprises. The instrial scale is small but the growth potential is huge. The blockchain economy is on the eve of the outbreak period. The financial instry is relatively widely used, and the application of other instries has also entered the stage of exploration and development. It is estimated that the direct market value of blockchain will increase from US $410 million to US $7.68 billion between 2017 and 2022

3. The potential is huge. Now, blockchain is the outlet, with state support (but you have to make clear the difference between blockchain and bitcoin). I think it is also a trend that can be expected in the future. The key is that there is a big talent gap in blockchain

4.

It's only in the first tier cities that we know about this technology, but it's not very widely understood, let alone in other tier cities. The banking sector is also preparing to apply blockchain technology, but it has not really been applied. The financial instry also needs to apply it, but I don't know when. To be exact, blockchain is only in the initial stage of trial in China

in China, the instry in which blockchain has been applied is network mutual help bar. As I know, network mutual help platform concentric mutual help is the first real blockchain landing application in China. Through blockchain and big data technology, we can eliminate the defects of traditional network mutual help mode and establish an open and transparent new network mutual help platform

you can download their blockchain customer service end to experience it

5. It can be said that 2016 is the first year of the development of China's blockchain. Since 2016, the government has focused on and supported the development of blockchain technology and instry in various forms
especially in the 13th five year plan for national informatization released in December 2016, it is clearly proposed that the innovation, test and application of new technologies such as blockchain should be strengthened to seize the leading power of new generation information technology
in January 2017, the block chain based digital bill trading platform promoted by the central bank was successfully tested.

6.

By the end of 2019, the number of blockchain research institutions in China has reached 97. In addition, domestic colleges and universities have arranged blockchain technology research, strengthened theoretical knowledge innovation of blockchain technology, and improved their blockchain technology R & D capability. By the end of 2019, there are 24 colleges and universities in China participating in strengthening blockchain technology R & D. The core technologies are mainly distributed in consensus algorithm, cross chain, underlying architecture and multi chain

in 2020, the blockchain instry will be further standardized

in 2020, China's blockchain policy will continue to be favorable, the standards and specifications will be more perfect, the instrial scale will continue to grow, the technology will continue to innovate and develop, and the application demonstration effect in key fields will accelerate. At the same time, according to the problems existing in the development of China's blockchain in 2019, CCID blockchain Research Institute puts forward six suggestions: accelerating the formulation of top-level design, establishing and improving the regulatory system, accelerating the innovation and development of core technologies, promoting the third-party evaluation and certification, strengthening the cultivation of professional talents, and accelerating the implementation of applications in various fields

- the above data comes from the analysis report of China's blockchain instry market outlook and investment strategic planning of foresight Instry Research Institute

7. Blockchain technology has a lot of applications in finance, and many characteristics make the future of the financial instry have a lot of imagination

for a single (domestic) central bank, bitcoin can be regarded as a "foreign exchange currency", and bitcoin will not be affected by the central bank's monetary policy. From this perspective, bitcoin is bound to bring about the so-called currency competition. When American tourists travel abroad, they will encounter the experience of exchanging foreign currency with unofficial exchange rate. The original intention of local people to exchange dollars may be to avoid the impact of high inflation (inflation tax)

if this kind of exchange can be "carried forward and widely used", the government's way of using inflation tax to increase fiscal revenue will be limited, and the traditional foreign exchange control will lose considerable effect. As long as there is Internet or telephone, people can use digital currency as the exchange medium<

challenge global currency status

although bitcoin is unlikely to replace the world's major currencies in the short term, bitcoin still has the opportunity to play a leading role in some specific occasions. The status of US dollar is obvious in many countries in the world, but the liabilities created by foreign banks under US dollar denominated deposits have brought jurisdiction problems. If the Bank of America further provides bitcoin denominated loans and accepts the redemption of bitcoin, what should the regulatory authorities do? In fact, there are similar signs in the euro dollar market today

in other words, at a time of financial crisis, if the market wants bitcoin deposits instead of US dollar deposits, then the central bank's status as "lender of last resort" in the traditional sense will be completely lost

acting as a safe haven asset

a safe haven asset does not mean a risk-free asset, but refers to the asset that investors are willing to pour in at a time of crisis. In the 1970s, real estate was a safe haven asset; In the 21st century, American debt has become a safe haven asset. Can bitcoin become the next key safe haven asset? The answer may be yes or no. But looking back on the dominant position of CUF in Hungary's mortgage loans in the time of the euro zone crisis, bitcoin obviously has a chance to become famous in the first World War: under the background of dollar inflation and bitcoin deflation, the US dollar / bitcoin exchange rate will plummet because the US Federal Reserve can't expand the supply of bitcoin

play the role of securities

in a perfect macroeconomic model, securities trading should be seamless. However, under the influence of monetary policy, the liquidity of OTC transactions of bonds is very poor. Even the ten-year US bonds with the best liquidity have had liquidity problems. Demand for good quality collateral, usually treasury bonds, has soared. If blockchain technology is mature enough, it is likely to bring billions of dollars of collateral supply to the market. Of course, lower demand for treasury bonds may lead to higher interest rates

maintain the stability of financial market

there is a view that the use of blockchain will lead to the withdrawal of global central banks from the stage of history. This possibility naturally exists, but in the short term, it is not too realistic - the central bank needs a lot of hard assets, such as real estate and human capital, to find liquidity carriers / media to completely retreat from the background

there is also a view that blockchain technology will make the financial market completely transparent, thus bringing a more robust financial system. However, it should be pointed out that the mainstream diamond and davige bank squeeze model does not rely on the opacity of the financial market. In theory, the bank's portfolio is completely transparent. But even so, unexpected large-scale redemptions can still cause problems in the financial system

the central bank's digital currency / cash

the current currency and payment structure were formed before the birth of the Internet. The world has changed dramatically, so people must learn to adapt. There is no reason to refuse the possibility of central banks providing digital currency. Before bitcoin, the U.S. Treasury provided online digital bond accounts. Although this kind of account is not used for payment system, it can be applied in theory

the digital account of the central bank has many advantages. First, depositors no longer need deposit insurance because there is no default risk in the central bank; Second, money managers who hold a lot of money can choose the central bank account as overnight deposit instead of shadow banking; Third, the cost of paper money supply will be completely eliminated; Fourth, it will be very convenient for the central bank to pay depositors' interest to facilitate the transmission of the central bank's monetary policy

practical application

Bubi blockchain has made a number of breakthroughs in the technical platform, which can meet the scenario of tens of millions of users, and has the ability to quickly build the upper application business. Bubi blockchain has been applied in equity, supply chain, points and other fields, and is concting experiments and application tests with exchanges and banks. As an integral application on Bubi blockchain platform, Shubei Hebao has been launched recently. Sunshine insurance, as the first large financial institution in China, issues blockchain integral (yangguangbei) on this platform, which is a good example for the landing application of blockchain technology in various instries

blockchain technology will have a profound impact on the financial instry and have an important impact in a long time. People will witness the profound changes in reality one by one.

8. In China, blockchain technology has been listed in the 13th five year plan of national informatization. The domestic blockchain entrepreneurship momentum is in full swing, and the ecological construction is increasingly complete. Some people say that blockchain technology is considered to be another social instrial revolution after steam engine, electric power and Internet. As a machine to construct trust, it will change the way of social value transmission as a whole. Chongqing jinwowo network technology group will focus on the R & D and commercial application of blockchain in the future.

9. N1 pass 100 points, language knowledge (words, vocabulary, grammar) pass 19 points, reading pass 19 points, listening pass 19 points
the new Japanese language proficiency test is to evaluate whether the students pass the test through the comprehensive score and the passing score of each item. That is to say, the comprehensive score must be above the qualified score, and each single score must be above the passing score set by each single score to be regarded as qualified< The test is divided into two parts: written test and listening test<
examination content:
the first part is "vocabulary", which is divided into four parts. The first part is 6 "Chinese pronunciation", the second part is 7 "meaning", the third part is 6 "synonyms", and the fourth part is 6 "usage". The overall feeling is that the number of questions is greatly reced and the difficulty is increased
the second part is "grammar", which is divided into three parts. The first part is 10 "grammar choices", the second part is 5 "sentence formation", and the third part is 5 "grammar in the article"
grammar questions are quite different from the previous examination forms. What remains is the first small part of "grammar choice". Although the difficulty of this part is much lower than before, but more emphasis on practicality and solid foundation
the second part of "sentence formation" may be very difficult and time-consuming for candidates, but if we find a way, it can be solved in a short time. In June, I explained and practiced the methods of this part in the exam intensive class. It is expected that all candidates who have participated in this intensive class should have a clear idea
the third part is "grammar in the article". The so-called knowledge workers are mainly engaged in "reading" and "writing". This is also the reason why the proportion of "reading" is greatly increased in the new examination reform. The next "reading" is divided into six parts. The first part is four "short stories", the second part is three "middle stories", the third part is one "long story", the fourth part is one "comparison of two articles", the fifth part is one "long story", and the sixth part is one "information retrieval"
so far, there are 71 written questions, 110 minutes< The fourth part is listening comprehension.