- 1 Ⅰ Is Wanqi Finance an application of blockchain finance?
- 2 Ⅱ What does blockchain finance do
- 3 III The real-name authentication of the blockchain has been verified by many. Can they use this to loan?
- 4 Ⅳ Which is the best blockchain loan APP production company
- 5 ⅣWhat is blockchain + finance
- 6 Ⅵ What is the difference between blockchain + finance and Internet + finance
- 7 VII What are the blockchain loan APP production companies?
- 8 Ⅷ How to use blockchain in supply chain finance
- 9 Ⅸ What is blockchain finance and what does blockchain finance mean
- 10 Ⅹ What is the blockchain + supply chain financial solution
Ⅰ Is Wanqi Finance an application of blockchain finance?
Recently, “blockchain” has become a hot word. In recent years, digital currencies such as Bitcoin have been chased by capital, and the blockchain as its underlying technology has gradually entered the public eye. What changes will “blockchain + finance” bring to finance?
In fact, the combination of blockchain technology and finance is not accidental. To put it simply, blockchain is a distributed shared ledger and database, which has the characteristics of decentralization, immutability, traceability, and traceability. Finance is cooperation based on trust, and these features of blockchain lay the foundation for creating trust. Blockchain technology is of great significance in solving the problems of high credit risk, low capital utilization efficiency, and high payment processing costs in the financial field.
Realistically speaking, Bitcoin is not equal to blockchain, and digital currency is only one of the applications of blockchain technology in the financial field. In the fields of supply chain finance, payment settlement, trade finance, and financial transactions, “blockchain+” has rich application scenarios and imagination space.
Let’s talk about supply chain finance first. The core enterprises in the supply chain can pass their credit to micro enterprises through the blockchain, which can solve the financing difficulties of micro enterprises to a certain extent. For example, Zheshang Bank has developed a receivables chain platform based on blockchain technology, which converts the enterprise’s receivables into electronic payment settlement and financing tools. The ICBC e-credit online financing financial service platform launched by the Industrial and Commercial Bank of China has registered more than 500 supply chain companies such as China Railway and China Merchants, and has issued more than 3 billion yuan in loans.
In terms of trade finance, by recording the core documents and key processes of the trade finance business, both parties to the trade can obtain real information and quickly execute them with the help of smart contracts. The application of blockchain technology can effectively promote the formation of market trust and reduce business costs. Financing costs. Data shows that since the first phase of the People’s Bank of China’s trade finance blockchain platform project was launched for more than a year, more than 30,000 transactions have been uploaded to the chain, with more than 5,000 transactions and a business volume of about 75 billion yuan.
Industry insiders pointed out that although the application of blockchain technology has broad prospects, there are not many projects that have actually landed and produced social benefits.
The application fields of blockchain include digital currency, token, finance, anti-counterfeiting traceability, privacy protection, supply chain, entertainment, etc. With the popularity of blockchain and Bitcoin, many related top domain names have been registered , had a relatively large impact on the domain name industry.
Ⅱ What does blockchain finance do
What is the currency speculation or something.
The current application of blockchain technology is virtual currency. Therefore, virtual currency is also known as the first birth product of blockchain in the true sense. The popularity of virtual currency is also obvious to all, setting off an investment frenzy in many countries. According to foreign media reports, the number of virtual currency transactions in the United States has reached 5 million; and South Korea is estimated to be the most crazy people in the world to speculate on currency, 1 in 50 people speculate in currency, and 31% of the working class are in Buy and sell virtual currency; Venezuela has issued the world’s first virtual currency with national sovereignty – petro.
With the popularity of virtual currency, market investors are not only satisfied with the conventional trading methods of buying low and selling high, but actively seeking simpler and more convenient trading methods to obtain more profits. The trend of virtual currency From this, the trading method was born and successfully captured the hearts of investors in a short period of time, becoming a mainstream trading method.
, the virtual currency trend trading method is exclusively launched by the international financial service provider Jisu Xinou SPEEDXO Yes, it mainly trades currency pairs composed of virtual currency and real currency, and it can make profits as long as it is bullish and bearish. For example, if the investor trades “Bitcoin/USD”, he only needs to judge whether the price will rise or fall after 30 seconds, and buy the rise or fall according to the trend. If he buys in the right direction after 30 seconds, he will get 93% of the investment amount. pure income. It is this advantage of earning both ups and downs, short time-consuming, and no need for a pick-up man, that the trend trading method quickly swept the entire currency circle.
III The real-name authentication of the blockchain has been verified by many. Can they use this to loan?
Certainly not, because the blockchain itself has no value, just like Bitcoin, It is recognized by some foreign countries and can be used as currency, but China does not recognize Bitcoin. In China, the value of Bitcoin is zero. Do you think blockchain can lend money?
Ⅳ Which is the best blockchain loan APP production company
Blockchain is a chain that combines data blocks in a sequential manner according to time sequence Data structures, and cryptographically guaranteed immutable and unforgeable distributed ledgers. It is a good idea to apply blockchain technology to loan APP, but if you use blockchain technology to develop APP,��You can refer to the development plan of Yingtang Zhongchuang, which is an enterprise with more blockchain technology applications.
ⅣWhat is blockchain + finance
In addition to issuing coins, blockchain + finance can also be applied to fields such as supply chain finance, small, medium and micro loans, etc. Guang said If you don’t practice the fake handle, you can search the SMIC blockchain public service platform. They do blockchain and have blockchain + financial cooperation with Changsha Bank. The project has also been implemented, so you can familiarize yourself with it.
Ⅵ What is the difference between blockchain + finance and Internet + finance
In addition to issuing coins, blockchain + finance can also be applied to supply chain finance, small, medium and micro loans, etc. In other fields, the essence of Internet + finance is to reduce costs and improve efficiency when exchanging value: a lot of audit information can be traced back, and the efficiency of cooperation and coordination between many organizations can be improved.
Now there is a good application of blockchain + finance, which is the SMIC blockchain public service platform. They directly cooperate with Changsha Bank in the business of small, medium and micro loans.
I hope the answer is helpful to you. If you don’t understand anything, you can continue to ask.
VII What are the blockchain loan APP production companies?
Blockchain app development facilitates the construction of the blockchain ecosystem, and the blockchain application has obvious benefits and significant It can optimize business processes, reduce operating costs, and improve collaboration efficiency. Despite this, there are still very few domestic enterprises in the application of blockchain technology. The more well-known ones are Yingtang Zhongchuang’s development of transaction systems and APPs with blockchain technology. At present, the main application fields of blockchain technology are in the fields of finance, Internet of Things, public services, public welfare and charity.
Ⅷ How to use blockchain in supply chain finance
In traditional supply chain finance, difficult financing, high financing cost, and cumbersome financing process have always restricted small, medium and micro enterprises from becoming bigger. One of the bottlenecks to become stronger. Banks rely on core companies’ ability to control goods and regulate sales. For risk control reasons, banks are only willing to provide factoring services to upstream suppliers (limited to first-tier suppliers) that have direct accounts payable obligations to core companies, or Provide advance payment or inventory financing to its downstream distributors (first-tier suppliers). This leads to the unmet needs of secondary and tertiary suppliers/distributors with huge financing needs, the business volume of supply chain finance is limited, and the lack of timely financing for small and medium-sized enterprises can easily lead to product quality problems , will harm the entire supply chain system.
To solve these problems, the blockchain technology can be used to create a blockchain supply chain financial platform with the characteristics of decentralization, immutability, and distributed ledger.
1. The core enterprise issues the receivable voucher to the distributor. After the distributor signs the receipt, it means that the purchase and sale contract is signed, and the core enterprise delivers the goods.
2. The distributor needs to borrow from financial financing due to the shortage of funds.
3. The financial institution will transfer the loan amount to the core enterprise after review and approval.
4. Distributors return the loan and interest after selling the goods
Ⅸ What is blockchain finance and what does blockchain finance mean
Blockchain finance In fact, it is the application of blockchain technology in the financial field.
Blockchain is an underlying technology based on Bitcoin, which is essentially a decentralized trust mechanism. By sharing in distributed nodes to collectively maintain a sustainable growing database, the security and accuracy of information is achieved. The application of this technology can solve the problems of trust and security in transactions. Blockchain technology has become an optional direction for the future upgrade of the financial industry. Through blockchain, both parties to the transaction can carry out economic development without the need for a third-party credit intermediary. activities, thereby reducing the cost of assets being able to move around the world.
(9) Extended reading of blockchain financial loans:
Since 2016, major financial giants have also followed the news and carried out blockchain innovations one after another Project to explore the possibility of applying blockchain technology in various financial scenarios. In particular, Puyin Group pioneered the “blockchain +” standard digital currency. Standard digital currency is an asset that has been authenticated, evaluated, confirmed, insurance and other processes completed by a third-party organization, and written into the blockchain through a careful digital algorithm to form a standard correspondence between assets and digital currency, which is called the standard system. digital currency.
In order to realize the great leap-forward development of blockchain finance, in order to promote the new development of China’s economy, accelerate the circulation of global assets, and realize the dream of rejuvenation that generations of people have been fighting for, Puyin Group will launch an event in December 2016. On the 9th, the Puyin Blockchain Finance Guiyang Strategy Release Ceremony was held in Guizhou. At the meeting, the digital circulation of assets realized by the blockchain, the financial transaction mode of the blockchain, and the application of blockchain services and social public industries will be launched. Explore.
Ⅹ What is the blockchain + supply chain financial solution
Since the blockchain in ChinaSince the upsurge in China, the entire industry has been constantly exploring various landing scenarios. It can be said that the blockchain is so charming that it has attracted countless entrepreneurs to compete. So what are the advantages of blockchain in supply chain finance? What are the pain points of traditional models? What new business models can blockchain create to solve these problems? How should blockchain startups cut into this field? ?
Moody’s, a world-renowned bond rating agency, has given 127 blockchain cases, from points to transaction settlement, from document storage to supply chain management, from cross-border payment to supply chain finance, various applications There are endless.
Among so many applications, the supply chain finance field has attracted much attention, and the commercialization is progressing rapidly.
This is because firstly, the scenario of supply chain finance has a market scale of trillions, and the ceiling is high enough. Second, this scenario naturally requires multi-party cooperation, but there is no traditional centralized organization to govern it, and it needs to use regional At the same time, technically this scenario does not require high concurrency, and the current blockchain technology can meet it.
1. Supply chain finance is a trillion-level market
Supply ChainFinance: refers to the core enterprises in the supply chain and their related upstream and downstream enterprises as a whole, with the core It is a comprehensive financial product and service provided to upstream and downstream enterprises in the supply chain by means of self-paying trade financing on the basis of enterprises and on the premise of real trade.
According to the different financing collaterals, financial institutions divide supply chain finance into accounts receivable, prepaid and inventory financing, among which the scale of accounts receivable is particularly huge.
Data from the National Bureau of Statistics shows that at the end of 2016, the accounts receivable of industrial enterprises above designated size in my country was 12.6 trillion yuan, a year-on-year increase of 10%, which generated huge financing needs for enterprises. Compared with the huge accounts receivable, the annual commercial factoring volume in my country in 2015 was only about 200 billion yuan. It can be seen that there are still a large number of supply chain needs that have not been met, so the development space of the supply chain finance industry is huge.
2. How does blockchain solve the pain points of supply chain finance
Pain point 1: Small and medium-sized enterprises in the supply chain are difficult to obtain financing, and the cost is high
Because banks rely on the ability of core enterprises to control goods and Adjustment of sales capacity. For risk control reasons, banks are only willing to provide factoring services to upstream suppliers (limited to first-tier suppliers) with direct accounts payable obligations of core enterprises, or to their downstream distributors (first-tier suppliers) ), provide prepayment or inventory financing.
As a result, the needs of secondary and tertiary suppliers/dealers with huge financing needs cannot be met, the business volume of supply chain finance is limited, and small and medium-sized enterprises cannot obtain timely financing. Lead to product quality problems, will harm the entire supply chain system.
We issue on the blockchain, running a digital ticket that can be split and transferred at will in the case of openness, transparency and multi-party witness.
This model is equivalent to making the credit in the entire business system transmissible and traceable, providing financing opportunities for a large number of small and medium-sized enterprises that were unable to raise funds, greatly improving the circulation efficiency and flexibility of bills, reducing The cost of capital for 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, but after adopting blockchain technology, 85% of suppliers can enjoy the convenience of financing.
Pain point 2: As the main financing tool of supply chain finance, the use of commercial drafts and bank drafts at this stage is limited, and the transfer is difficult.
The use of commercial bills is subject to the reputation of the enterprise, and the arrival time of the discounted bank bills is difficult to control. At the same time, it is not difficult to transfer these bonds.
Because in the actual financial operation, the bank is very concerned about the legal effect of the “transfer notice” of the creditor’s rights of accounts receivable. If the core enterprise cannot sign it back, the bank will not be willing to grant credit. It is understood that the bank is very cautious about the legal effect of signing the “transfer notice” of the creditor’s rights, and even requires the legal representative of the core enterprise to go to the bank to sign in person. Obviously, this method is extremely difficult to operate.
A consortium chain can be created between banks and core enterprises, which can be used by all member enterprises in the supply chain. The transfer of creditor’s rights has been agreed by many parties, which reduces the difficulty of operation.
Of course, the system design should be able to achieve the effect of legal notification of bond transfer. At the same time, the bank can also trace the transaction 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 the high cost of risk control at the capital end
In the current supply chain financial business, banks��In addition to worrying about the repayment ability and repayment willingness of the company, other funders are also very concerned about the authenticity of the transaction information itself, which is recorded by the ERP system of the core company.
Although it is difficult to tamper with ERP, it is not absolutely reliable. Banks are still worried that core enterprises and suppliers/distributors collude to modify information, so they need to invest manpower and material resources to verify the authenticity of transactions, which adds additional Wind control costs.
As a “trusted machine”, the blockchain has the characteristics of traceability, consensus and decentralization, and the data on the blockchain is timestamped, even if Even if the data of a certain node is modified, the sky cannot be covered with one hand. Therefore, the blockchain can provide an absolutely credible environment, reduce the cost of risk control on the capital side, and solve the bank’s doubts about information tampering.
3. How should blockchain companies enter supply chain finance
In terms of market selection, we believe that blockchain startups should choose segments with high enough ceilings, such as home appliances, automobiles, retail, and clothing. , the pharmaceutical industry, etc. On the one hand, these industries have a broad market, and on the other hand, their supply chain management infrastructure is relatively complete, and the initial cost of blockchain is relatively small.
We believe that there are two modes for blockchain companies to cut into supply chain finance.
The first is to directly cooperate with core enterprises/platforms to provide them with blockchain bottom-level solutions. After accumulating enough data, build a consortium chain to connect with funders to provide financial services. (Consortium chain model)
In view of the fact that the blockchain itself cannot solve the problem of risk control, at this stage, enterprise-level risk control still needs to focus on strong core enterprises. 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 are starting from core enterprises, including Bubi, Wanglu Technology, etc. Bubi has launched a consortium chain “Bunuo” specially created for supply chain finance. , factoring companies, etc. are all linked. Buno is based in Guangzhou and Shenzhen, radiating business in the southeast region, and digging deep into the field of supply chain finance. Previously, it signed a strategic cooperation agreement with Yigang.
The second model is to start with providing supply chain management services, such as traceability, tracking, visualization, etc., to integrate information flow, logistics and capital flow, and to engage in financial services on this basis. (Private chain mode)
This mode is equivalent to building an application scenario with the blockchain. Just like Alipay back then, if Jack Ma started Alipay directly back then, it would be difficult to do it. Because there is no application scenario, he first made Taobao, which serves the real economy. After Taobao, Alipay appeared as a centralized trust scenario, and other applications were grafted on Alipay, which made Ant Financial.
At present, among the domestic blockchain companies, the ones that adopt the supply chain service model include BITSE, food excellence and so on.
For example, VeChain provides an anti-counterfeiting traceability method. By implanting an NFC chip into each commodity, the commodity is registered on the blockchain so that it has a digital identity, and then this is recorded through a jointly maintained ledger. All the information of the digital identity to achieve the verification effect. At present, Vechain products have connected with more than 10 industry benchmark customers, and millions of IDs are running on the chain.
4. Three steps to build a supply chain financial exchange
From the perspective of the implementation path, the application of blockchain in the field of supply chain finance can be achieved through three steps.
As a premise, we need to build a blockchain + supply chain finance alliance. The participants of the alliance include supply chain financial platforms, core enterprises, professional financial intermediaries, funders, 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, such as hydropower, while core enterprises understand the industry status, have control over enterprises in the supply chain, and are responsible for risk control.
Professional financial intermediaries can integrate and analyze platform information and provide customized supply chain financial products, such as personalized blockchain electronic bills. Funding parties include banks, Internet financial institutions and other customers who are responsible for connecting with corresponding risk preferences.
After the alliance chain is established, the three-step strategy can be started.
The first step is to upload the data to the chain, put the data in the supply chain alliance on the chain, use the characteristics of the blockchain to make it immutable, and provide services such as data confirmation and traceability.
The second step, asset digitization, turns warehouse receipts, contracts, and blockchain bills that can represent financing needs into digital assets, which are unique, non-tamperable, and non-copyable.
The third step, the transaction of digital assets, the supply chain financial platform will be transformed into a financial asset exchange, and the demand for non-standard corporate loans will be transformed intoDevelop standardized financial products, tokenize them, meet investment and financing needs, and conduct value transactions.
Ultimately, blockchain technology will effectively enhance the liquidity of supply chain financial assets, mobilize new financing tools and risk control systems to help cover the long-tail market of SME financing, and give birth to supply chain finance as a service.