Bubbi Blockchain Financing 6

A. Blockchain financial application

Blockchain financial application is the key area where it plays a role in reality. The financial industry needs such high-end technology and traditional operation methods. Profound changes will take place because of such technology. The blockchain financial application has many distinctive features, which make people talk about it with great interest, and attract more and more people’s attention because of the actual effect, which has an increasing impact.

Abstract: Developed countries and technology companies have taken the lead in the research and application of blockchain technology. From the perspective of patent technology applications, my country and the United States may have a gap of about a year and a half in blockchain technology. Based on the above situation, how can China achieve “asymmetric” catch-up? The first is to see the situation clearly, seize opportunities and meet challenges. Secondly, after understanding the necessity of the underlying construction of the blockchain for the existing business and future development of the financial industry, a consensus was reached among various financial enterprises to establish a “China’s Financial Blockchain Alliance”. Finally, it is necessary to cooperate with each other to meet the change.

How to understand the blockchain?

Bitcoin: A peer-to-peer electronic cash system. In 2009, after the paper was published, Bitcoin was born as a virtual currency in the digital world of the Internet. At present, the total market value of Bitcoin is about 6.5 billion US dollars. Although the market value is constantly changing, it is still the largest virtual currency in the world.

Another important concept is the blockchain. Blockchain is an underlying technology of Bitcoin, and Bitcoin is just an application of blockchain. As we all know, Bitcoin can realize point-to-point value transfer. In addition to the Bitcoin blockchain, there are many other blockchains, such as the Ethereum blockchain. Therefore, we should distinguish concepts such as bitcoin, bitcoin blockchain, blockchain, and blockchain technology.

Currently, there are several misconceptions about blockchain. The blockchain can be described in English as “Decentralized Blockchain”, where Decentralized is translated as “decentralized”. However, I think that the blockchain realizes the unmediated spread of value, that is, the point-to-point spread of value. This does not mean that there is no need for a center after entering the blockchain era, but it should change from a single centralization to the center and the center. parallel development between. Then, existing centers are likely to become sub-centers or weak centers. At present, all banks have their own data centers. If a financial blockchain alliance is established in the future, then they can become nodes in the blockchain alliance, so the blockchain does not need a center.

Blockchain does not require credit

We often see some articles that believe that the blockchain is to “de-credit”, in fact, the blockchain is through consensus The algorithm establishes trust and ensures the correctness of transactions through consensus among various nodes. Build trust at low cost through mathematics and algorithms, rather than “de-credit”. It’s just that the digital asset transaction between people does not require two people to know each other, or have a mutual trust relationship, nor does it require a third-party credit institution. It only requires everyone to trust the trusted network of the blockchain.

Why is it credible? Because it is a distributed database, it has a consensus-based mechanism: a set of encryption algorithms that make it immutable. On the one hand, the public key makes information transparent and traceable; on the other hand, the private key can protect privacy.

Blockchain is not a mature technology, nor is it a panacea. At present, blockchain technology is still in its early stages of development. At the beginning of this year, we sent a delegation to the blockchain research laboratory of Barclays South Africa to study. At the seminar, Barclays African blockchain experts believed that it would take at least five to ten years for blockchain technology to become a truly mature technology. At present, blockchain has the disadvantages of relatively slow computing speed and small storage space, and not all data processing requires the use of blockchain.

Research and application of blockchain in foreign countries

We found that the old financial developed countries have taken the lead in the research of blockchain technology. The British government believes that it is very important for the government to participate in the legislation of digital currency and blockchain networks, and the government encourages in-depth research on blockchain technology. The UK government is actively evaluating the potential of blockchain technology, considering its use in reducing financial fraud and costs. In addition, the UK government plans to develop applications that can be used between government and public agencies.

In February of this year, the European Commission placed cryptocurrencies at the top of the fast-developing target area, a move that has driven policy research on digital currencies by various institutions. Tech companies are also leading the way in research on blockchain technology.

IBM has launched the Open Ledger Project to develop enterprise-grade blockchain software architecture and promote blockchain technologyFor commercial use, the connection of external data is supported through the Bluemix and API infrastructure of the IBM cloud computing platform. IBM has a lot of practice in blockchain technology. Recently, it has done a creative experiment with a company in South Korea using blockchain technology and the Internet of Things, and achieved some results.

Microsoft uses the Azure platform to provide users with “blockchain-as-a-service”, which can enable R3 and its bank members to accelerate the process of experimentation and learning, and accelerate the development, testing and deployment of distributed ledgers.

Intel also released SawtoothLake, an efficient modular platform for building, deploying and running distributed ledgers; Greater security and privacy.

Meanwhile, Wall Street is moving aggressively. Although it was created relatively late, the core function of R3 is to formulate industry standards for the development of blockchain technology in the banking industry, explore practical uses, and establish a blockchain alliance for banks.

From what we know, in addition to these two new companies on Wall Street that cater to the era of digital finance, large financial institutions are all studying blockchain technology and building their own districts. Blockchain concept and technology team.

At present, blockchain technology has already had practical application cases.

In Canada, blockchain startup “Blockchain Tech Ltd” has successfully listed on the TSX Venture Exchange; the Estonian government will launch the government’s blockchain health insurance Record.

Domestic attention and research on blockchain technology

Blockchain is an optional technology. Previously, the People’s Bank of China also held a seminar on digital currency. In addition to the central bank, relevant departments such as Zhejiang Province and Beijing City also expressed their support for blockchain application research work last year.

From an enterprise point of view, Bubbi blockchain has been applied to equity, supply chain, points and other fields, and is conducting experiments and application tests with exchanges and banks. Bubi Blockchain focuses on the innovation of blockchain technology and products. It has a number of core technologies and has developed its own blockchain service platform. And many blockchain innovation and start-up companies continue to emerge.

In addition, a number of industry alliances are being established. In terms of financial institutions, the current cases of blockchain application by large banks and financial institutions in my country still need to be solved.
By the end of 2015, Bank of America had obtained 15 patents on blockchain. There may be a gap of about a year and a half between my country and the United States in blockchain technology.
Blockchain financial applications are entering a new stage in an all-round way. Various applications will become more and more in-depth, and related changes will attract more and more attention, and will also form a great new trend. .

B. Which domestic blockchain company is the best?

First of all, let me introduce the more well-known domestic blockchain companies, and then make a personal evaluation Which one is better, you can decide for yourself.

First, Bubbi Blockchain Company, this company provides blockchain underlying technical services and industry solutions. That is to say, an underlying blockchain is built and an adaptation layer is built on it, so that enterprises can quickly build commercial applications. The underlying blockchain is developed by itself. The consensus mechanism is pbft, tps is 5,000 transactions per second, UnionPay’s transactions per second are 2,000, and Bitcoin’s transactions per second are 7. Of course, the underlying structure is different. The performance is different, because the commercial blockchain made by Bubi pays more attention to performance. At present, Bubi is mainly used in the fields of digital assets, supply chain finance, supply chain traceability, public notarization and other fields.

Second, the Promo blockchain. In theory, Bumeng should be said to be Bubi’s product line, but Bubi is mainly a private chain, and Bumeng is an alliance chain, so separately, Bumeng is Bubi’s layout in digital assets. The underlying technology is the Bubbi blockchain, but some encapsulation of the blockchain is carried out according to the scene, providing API interfaces for enterprises, and enterprises will issue their own assets on it, and carry out free circulation of assets according to the characteristics of the blockchain. Insurance, Qianxiang Finance, Zhongtuobang, Haohuo and other companies have taken over, and the assets inside include insurance policies, points, wealth management products and the like. Finally, it is estimated that this platform will break through the barriers between assets, and finally users can freely use and transfer these assets. This is a more interesting way of playing in the blockchain industry, because it has both the openness of the public chain and the security of the private chain.

Third, VeChain, VeChain is a commodity ID management cloud platform based on blockchain technology, providing enterprise-level users with commodity asset management, traceability, anti-counterfeiting verification, new supply chain management, etc. A simple understanding is that VeChain has made the content of the “supply chain traceability” of the Bubbie blockchain.

Fourth,� Heart Mutual Aid, Tongxin Mutual Aid is a mutual aid guarantee platform, which puts some mutual insurance related information into the blockchain, and users can apply to become a node, participate in bookkeeping, and maintain their own data.

5. Xiaoyi, Xiaoyi is based on blockchain technology, digitizing the assets and rights of the real world, and decentralizing financial services such as registration and issuance, transfer transactions, clearing and delivery through a peer-to-peer network network protocol.

These five blockchain companies are relatively well-known in China, and I personally recommend Bumeng.

First, Bumeng uses the underlying technology of Bubi blockchain, which is relatively optimistic in the industry, and has the most landing applications in China. Enterprises can access it, not only at low cost (just call the interface, it seems It is also free) to use blockchain technology, and can also use the resources in it. Think about being on the same chain with many enterprises, and the resources will be connected in the future, and it will not be easy for users to convert.

Second, VeChain and Tongxin Mutual Aid focus on a certain field and do not provide underlying technologies and industry solutions. It cannot be used in other fields. Take the field of mutual assistance and security as an example. Both Zhongtuobang and Zebra Club have chosen Bumeng. Of course, if it is an investment, you can consider it.

Third, Xiaoyi, why do you not recommend Xiaoyi, because Xiaoyi is an open source project, and everyone understands the domestic business environment, especially when the industry has just started to develop, the domestic market is different from that of foreign countries, small Yi has gone through two rounds of ico, which will be a great worry in the future operation, and at present, Xiaoyi has not yet been put into practical application, and the platform that has been built has not been used by the company for the time being (guessing may be related to the factors of open source) , Who dares to fully open up their own data), of course, Xiaoyi’s open attitude is still worth encouraging, although I guess the advantages and disadvantages of the code are well understood by the peers, but it is not relatively unclear.

Fourth, why did not recommend Bubi, Bubi also raised 30 million some time ago, because Bumeng is more open and has more resources. Of course, if the business requires high privacy, it can also be Choose Bubi Blockchain.

Finally, for the sake of my hard work and answering so many, choose me!

C. What is the financial blockchain and what are the areas of the financial blockchain cooperation alliance

blockchain? Blockchain applications? The reason why everyone says that the blockchain is a subversive technology is that it is indeed the first time in the entire development of computers that decentralized trust can be established from a technical level. Features: Multi-party consensus, security, openness. First of all, the blockchain is a multi-party consensus mechanism, and the consensus algorithm is the basis for establishing trust in the entire technology. It does not depend on the trust of people and institutions, but is a relatively democratic mechanism. Under the constraints of this mechanism, the authenticity, effectiveness and continuity of the data are guaranteed, thereby establishing the trust foundation for this alliance business in which multiple parties join and supervise each other.

Secondly, the blockchain is also a relatively secure system. Bitcoin is such a blockchain application that everyone is familiar with, and it is also the most successful blockchain application so far. So far, Bitcoin has been running stably for 6-7 years. And this system almost breaks everyone’s concept of building a traditional financial system. First of all, it does not have any security protection facilities. Anyone who enters the network with a machine can join the network and work. More than 80% of the machines in the entire Bitcoin network are almost bare metal, and they have neither good security protection nor any firewall measures; secondly, related to the design of Bitcoin, some of its data can track history and prevent tampering and irrevocable.

Finally, it is also a relatively obvious feature of the blockchain. It is a very open system. There are already many open source underlying implementations for your reference or use, and its scalability is It is very strong and has been working to establish a polycentric industry alliance or business alliance.

Brief Blockchain Introduction

Bubbie Blockchain has been focusing on the research and development and innovation of blockchain technology and products since its establishment, with a number of core technologies, Substantial innovation has been achieved in many aspects, and a number of core technical achievements have been formed, such as: distributed consensus technology that can be mathematically proven, fast large-scale ledger access technology, multi-chain general ledger technology that supports business form expansion, heterogeneous Interconnection technology between blockchains, etc. On April 25th, “Gege Points” introduced the point system into the concept of blockchain, which was jointly opened by multiple parties, and points were issued and exchanged to promote the circulation of points. All cooperative institutions can jointly participate in transaction verification, ledger storage, and real-time settlement; the third party of the issuer of enterprise points�� payment platform, making the points in and out more flexible. Bubi has developed its own blockchain basic service platform, which has been applied in the fields of equity, supply chain, points, and credit. Bubi has been committed to building an open value circulation network with de- (multi-) central trust as the core, allowing digital assets to flow freely.

There are currently two extremes in the trend of blockchain development. Some people advocate private chains, while others advocate public chains. In fact, more than 90% of mainstream applications in Europe and the United States are industry chains or consortium chains, that is, the upstream and downstream of a certain industry, or the semi-open blockchain that core enterprises have joined together to build, such as those familiar to everyone. R3, or Linq of Nasdaq supported by chain, and some applications in the industry that DAH does to ASX or to Morgan.

In fact, in the process of development and use of the blockchain, it revolves around the following three important links – consensus, balance of ledger efficiency and scalability. Some representatives of geek thinking like Bitcoin or Ethereum are completely public, there are also some private chains used within enterprises for efficiency transformation or connection between subsidiaries, and most of them are upstream and downstream of industry alliances. , group heating or jointly expand the scale of this business, which is the current mainstream industry chain.

Blockchains naturally have two types of attributes—credentials and transactions. The attributes of vouchers make it an entry point for asset securitization and asset digitalization, and the attributes of transactions enhance the free circulation of assets. Therefore, blockchain may become the infrastructure for building a future value free circulation network.

The field of blockchain? Blockchain applications? Referring to the development history of the Internet, the value free circulation network built by blockchain is also an independent local value circulation network (industry chain, alliance chain) formed by each industry according to its own needs in the early stage, and later in the cross-industry asset exchange demand Driven by some connections and docking methods, the industry chains are connected in series to form a de facto free circulation network of shared value (public chain).

D. Bumeng builds a free and open digital asset circulation platform with data as the core
1. Asset issuance

Multi-party, multi-asset issuance. Individuals and institutions can issue their own digital assets; any digitizable asset can be issued and circulated on the platform.
2. Asset transfer
Asset circulation is controlled by the original single center and becomes socialized circulation. Any channel with resources can become a catalyst for asset circulation and promote circulation.
3. Asset query
Check the issuance and circulation of assets in real time, and manage asset data.

E. What are the blockchain technology application development platforms currently in China?

The so-called blockchain technology, referred to as BT (Blockchain technology), is also called Distributed ledger technology is an Internet database technology, which is characterized by decentralization, openness and transparency, allowing everyone to participate in database records.

F. Blockchain will reshape the financial industry, and in which fields will it be widely used

As a rookie of Bubbi Blockchain, let me tell you!
Application of Blockchain Technology in Banking

2.1 Self-Regulatory Platform

We seldom see a platform that can operate with little human intervention self-regulation. In all areas similar to the financial industry, central banks and regulators (such as the SEC) set uniform rules and manage them. The blockchain technology makes the system no longer need these supervisions from enterprises or government entities, thereby regulating the operation of the system. Blockchain provides a mechanism called “Proof of Work” that allows every computer node in the system to participate in approving every transaction. The system has built-in checks and balances to ensure that no computer in the system can fool the system. All of this review and oversight is completely automated by computers. At present, there are many other consensus models that can replace the “Proof of Work” mechanism, but the core idea that each client or node can manage the system peer-to-peer is still retained. What’s more, the blockchain makes every element of the system completely transparent, so for a community of this scale around the world, blockchain technology can easily censor and manage it – “Source Crowd regulation”, thereby effectively reducing fraud. Imagine the cost savings and efficiency gains it can offer.

2.2 Legal and easy to trace

Actors (users) and their actions (sending money or assets to others) are recorded on the blockchain of. any transaction between the partiesYi can be traced and searched, and can be proved in court. This is because all transactions require a set of public/private keys for encryption and decryption processing and transactions. Once added to the blockchain, they are permanently immutable. Any record, once written to the blockchain, cannot be tampered with. Anyone who holds an asset or digital currency on the blockchain will have their own public key on the blockchain. When a transaction occurs, it needs to be signed with the private key by the previous holder who controlled these assets. Blockchains also allow for a variety of mechanisms for transactions to occur, such as a transaction that can be set up to require a joint signature of two people. In a system without corporate or government endorsement, a legally binding mechanism can greatly increase the trust factor in the system.

2.3 Built-in Business Continuity

A global platform that cannot afford downtime risk for major transactions. Blockchain, a complete peer-to-peer network, is supported by many distributed nodes and computer servers, and has extremely high reliability. A copy of the complete blockchain data is saved on each participating node in the system. This makes the entire network extremely fault-tolerant, and if a few nodes in any part of the network fail, it will not affect the continued operation of other parts of the network. This enables 24/7 operational features like a disaster recovery center or database redundancy center without the use of complex technologies.

2.4 Evolutionary model without burden

In the system, there are a series of rules and key points to help decide, who has the right to approve transactions and before they are written into the blockchain What needs to be reviewed. Blockchain technology can fork out new versions according to different environments and business model requirements. The new version also needs to conform to the overall concept of the blockchain, all these changes must be approved by all members of the system, and everyone can get the same benefits. Furthermore, these changes will not affect transactions that have already occurred and are confirmed on the blockchain. This is enough robustness and flexibility factor for a system. Often people compare the similarities between the internet and blockchain, both in terms of their growth potential and their prospects in business. Both systems have very similar characteristics. The Internet does not need or have a centralized management department (except for a few managements for agreed-upon URLs and domain name registrations), and also has sufficient redundancy and strong fault tolerance. The Internet has continued to evolve over the years, from basic text to rich graphics, video, and animation without affecting other systems and content that already existed. Blockchain has fully demonstrated its functionality and utility in Bitcoin’s system. Just like Lao Tzu, a famous Chinese philosopher, said, “A tree that is hugged is born at the end of a minute; a platform of nine layers begins with a pile of soil; a journey of a thousand miles begins with a single step.” I think this should be all blockchain technology. An early adopter’s creed.
As a rookie in Bubbi blockchain, that’s all I can tell you!

G. What stage is the development of blockchain and supply chain finance now?

The field of blockchain and supply chain finance is basically divided into prepayment financing, Inventory financing and accounts receivable financing are three major blocks. Xingbei Cloud Chain is a development result of the real implementation of blockchain applications. Supply chain finance is now in the early stage of market development, and the future market potential is very large.


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