The significance of blockchain technology to solve problems

❶ What is the significance of blockchain technology and why does it get Wang Yongli’s attention?

It is launched on the basis of blockchain technology, which is not much different from offline There is a lot of room for imagination in such a rule system, which is related to user authentication, wealth confirmation, transaction records, etc. that are completely online. It is equivalent to saying that relying on blockchain technology, the identity can be traced and verified, which is the significance of the significance.

❷ How to understand the definition of blockchain technology

Chongqing Jinwowo analyzes the definition of blockchain technology as follows:
1, block A chain is a distributed database (system) placed in a non-secure environment.
2. The blockchain uses cryptography to ensure that existing data cannot be tampered with.
3. The blockchain adopts a consensus algorithm to reach a consensus on new data.
A system with the above three properties is the blockchain.

❸ What is the impact and significance of blockchain technology on society

On the morning of November 8, 2019, the 2019 Trusted Blockchain Summit opened in Beijing . Wang Xinzhe, Chief Economist of the Ministry of Industry and Information Technology, and Shang Bing, Chairman of the Internet Society of China, attended the opening ceremony of the summit and delivered speeches.

Wang Xinzhe pointed out that a new round of scientific and technological revolution and industrial transformation, characterized by the accelerated innovation and integration and penetration of information technology, is booming. The modernization level of governance capacity is of great significance.

(3) The significance of blockchain technology to solve problems extended reading:

Wang Xinzhe emphasized that the Ministry of Industry and Information Technology attaches great importance to the blockchain technology industry The development work supports the development of the blockchain technology industry by creating a good development environment, guiding local governments to speed up the pace of exploration, supporting breakthroughs in key core technologies, promoting industrial applications, and building a perfect standard system. development foundation.

The Ministry of Industry and Information Technology will accelerate the innovation and development of the blockchain technology industry, vigorously promote the deep integration of blockchain and the economy and society, and give full play to the role of blockchain technology in driving technological breakthroughs, driving economic development, and promoting The strategic role of improving people’s livelihood and promoting social progress has made positive contributions to the realization of the “two centenary goals” and the Chinese dream of the great rejuvenation of the Chinese nation.

❹ The meaning of blockchain technology The principle of blockchain technology

To understand the principle of blockchain thoroughly, it must be systematically carried out from its birth and development understanding, so as to more clearly identify the principle of blockchain from multiple perspectives. Blockchain technology (Block Chain) refers to a technical solution to collectively maintain a reliable database in a decentralized manner. This technical solution mainly associates blocks through cryptographic methods, each data block contains all the data information of the system within a certain period of time, and generates a digital signature to verify the validity of the information and link to the next data block Form a main chain (Chain).

A block is a record in the blockchain that contains and confirms pending transactions.

Mining refers to the formation of new blocks through calculation. It is a process in which supporters of transactions use their own computer hardware to perform mathematical calculations for the network to confirm transactions and improve security. Take Bitcoin as an example: transaction supporters (miners) run Bitcoin software on computers to continuously calculate complex cryptographic problems provided by the software to ensure transactions. As a reward for their service, miners get a fee included in the transactions they confirm, as well as newly created bitcoins.

A Peer-to-Peer Network is a system that enables the entire system to function like an organized collective by allowing a single node to interact directly with other nodes. Take Bitcoin as an example: the network is structured in such a way that every user is propagating the transactions of other users. And importantly, there is no need for a bank or other financial institution as a third party.

Hash is a classic technology in cryptography, which converts input of any length into a fixed-length output composed of letters and numbers through the hash algorithm.

A digital signature is a mathematical mechanism that allows people to prove ownership.

Private Key is a confidential data block that proves that you have the right to spend electronic money from a specific wallet, which is achieved by digital signature.

Double spending refers to users trying to illegally pay electronic money to two different payees at the same time, which is one of the biggest risks of electronic money.


The Origins of Blockchain: An Underlying Technology Underpinning the Operation of Bitcoin

The concept of blockchain was first introduced in late 2008 by Satoshi Nakamoto �The table is presented in the paper “Bitcoin: A Peer-to-Peer Electronic Cash System” in the Bitcoin Forum. The blockchain technology in the paper is the basic technology for constructing the encrypted transmission of bitcoin data structure and transaction information, which realizes the mining and transaction of bitcoin. Satoshi Nakamoto believes: First, the model of processing information with the help of third-party agencies has an inherent weakness of lack of trust between points. In order to guard against their customers, businesses will ask customers for completely unnecessary information, but they still cannot. Avoid certain fraudulent behavior; second, the existence of intermediaries increases transaction costs and limits the practical minimum transaction size; third, digital signature itself can solve the problem of electronic currency identity, if third-party support is required to prevent double consumption, the system will lose its value. Based on the above three existing problems, Satoshi Nakamoto created Bitcoin on the basis of blockchain technology.

On January 3, 2009, Satoshi Nakamoto created the first block in the Bitcoin world, the “Genesis Block”, and mined the first batch of 50 bitcoins.

On May 21, 2010, a Florida programmer used 10,000 bitcoins to buy $25 worth of pizza coupons, creating the first fair exchange rate for bitcoin.

In July 2010, the first Bitcoin platform was established, with a surge in new users and a surge in prices.

In February 2011, the price of Bitcoin reached 1 US dollar for the first time, and then the exchange and trading platform with the British pound, the Brazilian real, and the Polish zloty opened.

In 2012, Ripple (Ripple) released, as a digital currency, the use of blockchain to transfer foreign exchange in various countries.

In 2013, Bitcoin skyrocketed. The U.S. Department of the Treasury issued the Regulations for the Personal Management of Virtual Currency, clarifying the definition of virtual currency for the first time.

In 2014, the mining machine industry chain represented by China became more and more mature. In the same year, the American IT industry realized the cross-generational innovation significance of blockchain in the digital field.

In 2015, the Nasdaq stock exchange launched the blockchain-based digital ledger technology Linq to record the transaction and issuance of stocks.

The principle of blockchain can be clearly understood from the application cases, and the application of the principle of blockchain is becoming more and more popular. Recently, Citigroup, Japan’s Mitsubishi UFJ Financial Group, Switzerland Large global financial institutions such as Union Bank and Deutsche Bank will also apply “blockchain” technology to create a fast, convenient and low-cost transaction operating system. In addition to the financial field, blockchain technology has also begun to be applied to the protection of intellectual property rights, lawyers’ notarization, online games and other fields that require transparent information and permanent records.

❺How to understand blockchain and blockchain technology

Blockchain technology uses mathematical methods to realize distributed accounting and solve the problem of trust, so as to complete the Decentralization will bring far-reaching impacts in many fields such as communications, finance, Internet of Things, and government management.
Blockchain (Blockchain) refers to a technical solution to collectively maintain a reliable database through decentralization and trustlessness, and is a technical way for the whole people to participate in bookkeeping. The previous bookkeeping methods were centralized and required a centralized intermediary, whether the intermediary was a traditional government, financial institution, notary institution or an emerging e-commerce platform or online payment platform.
In economics, information is sufficient. In fact, it is precisely because of insufficient information that there are very large intermediaries. The existence of intermediaries increases transaction costs and raises the transaction threshold. Blockchain technology is essentially a large-scale collaboration tool that enables direct value transfer for the first time in a purely technical way, and continues the trend of decentralization and disintermediation of the Internet. The de-intermediary blockchain technology will greatly subvert the information intermediary industry.
Blockchain technology is the basic technology for constructing Bitcoin data structure and encrypted transmission of transaction information, which realizes the issuance and transaction of Bitcoin. The core of blockchain technology is that all currently participating nodes jointly maintain transactions and databases, so that transactions are based on cryptographic principles rather than trust, so that any two parties who reach an agreement can directly conduct payment transactions without the participation of a third party.
Technically speaking, a block is a data structure that records transactions and reflects the flow of funds in a transaction. The blocks in the system that have reached transactions are connected together to form a main chain, and all nodes participating in the calculation record the main chain or a part of the main chain.
A block contains the following three parts: transaction information, the hash formed by the previous block, and a random number. The transaction information is the task data carried by the block, including the private keys of both parties, the number of transactions, the digital signature of the electronic currency, etc.; the hash formed by the previous block is used to connect the blocks to realize the past communicateThe random number is the core of the transaction. All nodes compete to calculate the answer of the random number. The node that gets the answer the fastest generates a new block and broadcasts it to all nodes for update, thus completing a transaction.

❻ The social or economic significance of the blockchain

First, the blockchain will play the role of “reducing costs for the real economy”. At present, the real economy has high costs and thin profits, resulting in insufficient capital support for the real economy. Among the operating costs, management costs and financial costs account for a large proportion. Blockchain technology can effectively help companies reduce the costs of these two parts.
Second, the blockchain will play the role of “improving the synergy efficiency of the industrial chain”. Enhancing industrial synergy is an important way to promote Chinese manufacturing to the mid-to-high end. However, in many industries, the efficiency of industrial chain synergy is still not high, especially in the field of international trade.
Third, the blockchain will play the role of “building an honest industrial environment”. At present, the construction of my country’s social credit system is accelerating, but in some cases, the process of building trust between partners is still slow, it is difficult to obtain various credit information, and it is difficult for small, medium and micro enterprises to obtain credit loans from financial institutions. Through “transaction on the chain”, all parties can more conveniently check the accurate historical credit situation of the counterparty, and can establish a cooperation mechanism more quickly; banks can also more safely grant credit to enterprises based on transaction records, and promote the resolution of credit management issues. Small and medium-sized enterprises have problems such as “financing difficulties, expensive financing, and slow financing”.
In addition, the blockchain can use smart contracts to avoid default and fraud to a large extent, and can also be combined with blockchain asset wallets for efficient and convenient payment scenarios. As early as in the blockchain circle, there have been many innovation forums and industry summits aiming at the direction of blockchain empowerment of the real economy, and optimizing the implementation in combination with local economic industries. To do a deep integration of the economic industry, use and popularize blockchain assets with the payment method of the magic chain wallet.

❼ Does blockchain solve any problems?

As a decentralized database, blockchain is open, distributed, irreversible, etc. As an electronic data storage platform, it has the advantages of low cost, high efficiency and stability. At present, the application of blockchain in many fields has brought many changes to life. Now many electronic contract platforms such as legal This kind of blockchain technology has been applied by DaDa, Legal Data Chain, etc., and the blockchain technology certificate has also been recognized by the court.

❽ Blockchain technology in the industry field What’s the point of the application within it?

This question is a bit big, and the full answer can make a long report.
According to several characteristics of blockchain technology, it is currently applied to many industries.

At present, the application of blockchain technology is divided into two categories: chain circle and currency circle.
For example, based on the characteristics that information cannot be tampered with, it has been applied to the fields of virtual currency (bitcoin, etc.), full traceability of industrial and agricultural products, quality supervision of real estate, and copyright verification of cultural artworks.
As for what it means to these industries, it has different functions depending on the industry. Generally speaking, it should be of general significance to make information more transparent, safer and more efficient


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