Application of blockchain in Finance

1. 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.

2. Blockchain is a revolutionary underlying technology. Its original function is bookkeeping. As a distributed general ledger, it can solve the credit problem, notarization problem, audit problem, right confirmation problem, etc. of the ledger, as well as the digital demand of physical assets. Blockchain application scenarios are characterized by "new database, multi business entities and mutual distrust". The financial instry has the characteristics of low trust among participants and high requirements for transaction record security and completeness, which is very consistent with the application characteristics of blockchain technology. Therefore, the financial services instry is one of the instries with the most blockchain technology landing projects and the most abundant scenarios, such as supply chain finance, asset securitization, credit reference and risk control. In the financial field, blockchain technology can not only reform the financial infrastructure, but also play a synergistic role in the scenes of supervision, transaction, credit reference, virtual currency and so on. For example, in the traditional financial environment, supervision is managed by reporting data from various business organizations, which will cause many disadvantages, such as "black box" operation, decision-making delay and so on. However, under blockchain finance, with the advantages of information transparency and penetration and regional centralization, the regulatory authorities can grasp all business information at the first time. At present, Internet financial companies such as fox financial services are vigorously developing blockchain technology. Through the characteristics of decentralized blockchain technology and distributed storage, they can enhance user information management and enhance regulatory efficiency.

3. There are many. Blockchain is characterized by sharing and trust. So in the application of financial field, we should pay attention to two points: first, there should be interaction, that is, transactions are very frequent, and people use data very frequently. Second, this part of business needs multi-party trust, and then low-cost trust can be established through the blockchain
for details, you can refer to Bubi blockchain, a domestic blockchain company that has done a better job. At present, they mainly focus on two aspects of business: one is supply chain finance, which means frequent interaction and complex business; Another is bumeng, which mainly establishes the credibility of digital assets through the blockchain platform.

4. In addition to issuing currency, blockchain + finance can also be applied to fields such as supply chain finance, small and medium-sized micro loans, etc. just say it without practicing fake tricks. You can search the public service platform of SMIC blockchain. They do blockchain, and have a cooperation with Bank of Changsha in blockchain + finance. The project has also been implemented, so you can get familiar with it.

5. In fact, it doesn't need to be so troublesome to download a
Simple tour
, which has scripts, charges, mining, planting, and can be used as long as it is adjusted properly. Specifically, when you download it, it will prompt you how much it costs. With half an hour's use time, you can go to
feel it
, if it's OK, you can buy it. You can charge it with a point card, and you don't need online banking

7. According to McKinsey's analysis, the impact of blockchain technology is most likely to occur in the main application scenarios of payment and trading banking, capital market and investment banking business
digital currency: to improve the convenience of currency issuance and use, for example, the central bank plans to issue its own digital currency; Cross border payment and settlement: realize point-to-point transaction and rece intermediate costs; Bill and supply chain financial business: rece human intervention, rece costs and operational risks; Securities issuance and Trading: realize quasi real-time asset transfer and accelerate the speed of transaction clearing (European crowdfunding is a typical model); Customer credit investigation and anti fraud: rece the cost of legal compliance and prevent financial crimes.

8. (1) The realization of clearing and trading of central bank by blockchain is point-to-point, which no longer relies on commercial banks and intermediaries to realize transactions. This will have a significant impact on the future financial order and enhance the credit of currency
(2) in the aspect of audit, if every order has to be stored in the blockchain from the terminal, the database on the blockchain is irreversible, tamperable and traceable, so it is easy to make false
(3) rece the cost of fees. For example, if the bank makes a blockchain credit system, the data of customers' orders in each link is not only transmitted to the asset management company, but also stored in the system. The data of participants are shared and operated in the same database, and the lawyer fees and transaction costs will be greatly reced.