- 1 (1) What does blockchain mean
- 2 (ii) What are the functions and characteristics of the blockchain
- 3 (iii) What is blockchain technology and what is blockchain? A chained data structure composed of sequential connections, and a cryptographically guaranteed immutable and unforgeable distributed ledger.
- 4 ㈣ CCID’s Viewpoint: What are the key points and trends of China’s blockchain development during the “14th Five-Year Plan” period
- 5 (v) What are the total blockchains
- 6 ㈥ How do you view the country’s accelerated promotion of blockchain technology
- 7 ㈦ What is Blockchain (BlockChain) and how to explain it to make it easier to understand
(1) What does blockchain mean
Blockchain is an important concept of Bitcoin. It is essentially a decentralized database and serves as the underlying technology of Bitcoin. , is a series of data blocks associated with cryptographic methods. Each data block contains a batch of Bitcoin network transaction information, which is used to verify the validity of its information (anti-counterfeiting) and generate the next block.
(ii) What are the functions and characteristics of the blockchain
The blockchain is starting a revolution in currency. The blockchain should be liquidity with bit characteristics, not currency characteristics.
According to the Radcliffe report that “only liquidity is the transmission mechanism for monetary policy to affect the economy”, people’s spending is not limited by the amount of money available, but only by the amount of money people expect they can get. In relation, these currencies may be acquired as income, acquired through the sale of assets, or borrowed. The blockchain uses tokens to mark value, all assets can be easily expressed on the blockchain, and the structure and marginal cost of asset exchanges tend to be zero. Maoqiu Technology Research Department believes that this is one of the core technologies of blockchain, and it brings about an explosion of liquidity in a zero marginal cost scenario.
Only liquidity is the transmission mechanism of blockchain value
The liquidity of currency generally refers to the ability of currency to be quickly realized without loss in the process of circulation. With the intensification of the informatization process, the currency is required to have more simple and fast transactions, and the liquidity of paper currency is now much lower than that of electronic currency.
In the era of Internet finance, “liquidity” can be completely explained as “the flow of information that exceeds the value expressed in the form of paper money”.
We all know that the constitution of the central bank cannot survive without the control of the information flow behind the value. Because the essence of the central bank’s monetary policy is to control the flow of value information, or simply deny the “information flow”. This is also one of the reasons why inflation has increased over the past few years.
The reason why electronic currency is gradually stronger than paper currency is that the value of paper currency is higher than the value of information flow such as gold and silver before the prosperity of the Internet. Therefore, the essence of electronic money is direct value exchange, and the form carrier is the information exchanged by digital signals through the network. This is completely consistent with the characteristics of “liquidity”.
Although it was impossible to know the situation of the blockchain in the last century, but based on the liquidity analysis, it still accurately grasps the value characteristics of the currency in the future. Now for the blockchain, most people talk about its technical aspects, and rarely touch on the value content.
However, if central banks’ quantitative easing is tracked to the flow of interest by the blockchain, the technology will immediately “emerge” for the benefit.
Is the blockchain the general equivalent of a distributed or distributed Specific use value The blockchain can record and measure the currency flow facts of the transaction in a distributed manner. In the distributed transaction recording system based on blockchain technology, each node becomes an independent product consumer, and each subject becomes an independent product consumer. Equal and decentralized decision-making, all transactions are open, transaction nodes can be anonymous, ensure the security of node accounts, decentralized management does not require a central server, avoid expensive operation and maintenance costs, and reduce costs.
Although the blockchain is formally similar to currency Than, decentralization, but the liquidity it handles is still based on general equivalents.
We all know that the emergence of blockchain is based on the increasingly serious centralization problem, from the point of general equivalent theory, general equivalents Appears because the equivalent of the existing value form cannot meet the growing demand for exchange, so a new equivalent is needed to make up for the shortcomings of the existing equivalent.
French biologist Jacques Monod published in 1970 ” It is mentioned in “Inevitability and Contingency” that there is an inevitability in the development of things. The reason why the blockchain is designed as a liquid account book of general equivalents is self-evident. Of course, according to Jiang Qiping of the Information Technology Research Center of the Chinese Academy of Social Sciences ” From the viewpoint of “Blockchain and Monetary Philosophy”, the block chain is now only a distributed system designed as a general equivalent. If the general equivalent feature is no longer the leading role in the future, then the future liquidity will need to be utilized, used, and applied in services. Therefore, the Maoqiu Technology Research Department believes that the future blockchain should not only reflect the distribution and non-distribution in technology, but also reflect the specific value application.
Heidegger in his masterpiece “Existence” The philosophical concept: Dasein is proposed in “With Time”. It is a good way to describe the blockchain here, that is, God will not be willing to be a means of accounting, he wants to live in the present and the purpose of Dasein. Meaning, the block For the chain to develop for a long time, it must develop aA function of contextualized use, as a Dasein being, not a flash in the pan.
If the blockchain is no longer a general equivalent, how to look at liquidity
From Jiang Qiping’s point of view of liquidity, shells, currency, and blockchain are liquidity in different historical periods and under different value logics different carriers. As liquidity, currency ignores the use characteristics of value, which are always specific, local, and current, so they can only be distributed.
Maoqiu Technology Research Department believes that when the blockchain captures the distributed characteristics of the liquidity of money, although it will be used as a general equivalent book book in the early stage, it will eventually be implemented. The negation of negation develops a valuation function corresponding to the service.
(iii) What is blockchain technology and what is blockchain? A chained data structure composed of sequential connections, and a cryptographically guaranteed immutable and unforgeable distributed ledger.
In a broad sense, blockchain technology is the use of blockchain data structures to verify and store data, the use of distributed node consensus algorithms to generate and update data, and the use of cryptography to ensure data transmission and access. A new distributed infrastructure and computing method that uses smart contracts composed of automated script code to program and manipulate data.
Generally speaking, blockchain system consists of data layer, network layer, consensus layer, incentive layer, contract layer and application layer. layer composition. Among them, the data layer encapsulates the underlying data blocks and related basic data and basic algorithms such as data encryption and timestamp; the network layer includes distributed networking mechanisms, data dissemination mechanisms and data verification mechanisms; the consensus layer mainly encapsulates network nodes The incentive layer integrates economic factors into the blockchain technology system, mainly including the issuance mechanism and distribution mechanism of economic incentives, etc. The contract layer mainly encapsulates various scripts, algorithms and smart contracts, which is a blockchain The basis of programmable features; the application layer encapsulates various application scenarios and cases of the blockchain. In this model, the timestamp-based chain block structure, the consensus mechanism of distributed nodes, the economic incentives based on consensus computing power, and flexible and programmable smart contracts are the most representative innovations of blockchain technology.
[Blockchain core technology]
Blockchain mainly solves the problem of trust and security of transactions, so it proposes to solve this problem Four technological innovations have been made:
1. Distributed ledger, that is, transaction accounting is completed by multiple nodes distributed in different places, and each node records a complete account, so they are all Can participate in monitoring the legality of transactions, and can also testify jointly for it.
The uniqueness of the distributed storage of the blockchain is mainly reflected in two aspects: First, each node of the blockchain stores complete data according to the blockchain structure. Data is divided into multiple copies according to certain rules for storage. Second, the storage of each node in the blockchain is independent and has the same status, and relies on the consensus mechanism to ensure the consistency of storage, while traditional distributed storage generally synchronizes data to other backup nodes through the central node.
No node can record the ledger data alone, thus avoiding the possibility of a single bookkeeper being controlled or bribed to keep false accounts. Also because there are enough accounting nodes, in theory, unless all nodes are destroyed, the account will not be lost, thus ensuring the security of the account data.
2. Asymmetric encryption and authorization technology, the transaction information stored on the blockchain is public, but the account identity information is highly encrypted and can only be accessed with the authorization of the data owner , thus ensuring data security and personal privacy.
3. The consensus mechanism is how to reach a consensus among all accounting nodes to determine the validity of a record, which is not only a means of identification, but also a means of preventing tampering. The blockchain proposes four different consensus mechanisms, which are suitable for different application scenarios and strike a balance between efficiency and security.
The consensus mechanism of blockchain has the characteristics of “minority obeys the majority” and “everyone is equal”. “Minority obeys the majority” does not completely refer to the number of nodes, but also the computing power and the number of shares. Or other feature quantities that can be compared by computers. “Everyone is equal” means that when a node meets the conditions, all nodes have the right to give priority to the consensus result, which may become the final consensus result after being directly recognized by other nodes.
4. Smart contracts, smart contracts are based on these trusted data that cannot be tampered with, and can automatically execute some predefined rules.�� Terms. Taking insurance as an example, if everyone’s information (including medical information and risk occurrence information) is true and credible, then it is easy to automate claims settlement in some standardized insurance products.
In the day-to-day business of insurance companies, although transactions are not as frequent as in the banking and securities industries, the reliance on trusted data continues unabated. Therefore, the author believes that the use of blockchain technology, from the perspective of data management, can effectively help insurance companies improve their risk management capabilities. Specifically, it is mainly divided into the risk management of policyholders and the risk supervision of insurance companies.
㈣ CCID’s Viewpoint: What are the key points and trends of China’s blockchain development during the “14th Five-Year Plan” period
Recently, CCID issued a document pointing out the key points and trends of China’s blockchain development during the “14th Five-Year Plan” period. Development priorities: Accelerate key and core technology innovation; accelerate platform innovation countries to promote blockchain application innovation and scene landing countries to innovate regulatory systems and mechanisms. Development trend: the construction of blockchain infrastructure under the “new infrastructure” is accelerated; blockchain is expected to promote the circulation of data elements and empower the digital economy; blockchain applications will be more mature and deeply integrated with the real economy; blockchain supervision system will Continue to improve and further standardize the ecological construction of blockchain.
Blockchain has significant advantages such as decentralization, distributed accounting, encrypted traceability, etc., which can well ensure the integrity and authenticity of the data on the chain. Once tampered or forged, it can be found. At the same time, due to the distributed accounting characteristics of the blockchain, even if the data on individual nodes is deleted, other nodes can still save the data completely, ensuring the integrity of the entire blockchain certification system. normal operation. Based on the above advantages, blockchain is naturally suitable for electronic data storage. The introduction of blockchain certificate storage can effectively solve the authenticity and legality of electronic evidence, and make the process of electronic data storage more reliable. The future industry trend will be based on the “blockchain+” model. Yibaoquan utilizes blockchain technology to well solve the whole-chain trust problems of electronic data from generation, certificate storage, to notarization, and proof production. After being on the chain, each judicial node on the security chain is used to ensure the credibility and security of the data; during litigation, the evidence is directly connected to the Internet court to improve the efficiency of rights protection.
(v) What are the total blockchains
Blockchain mainly solves the problem of trust and security of transactions, so it proposes four technological innovations for this problem:
(1) Distributed ledger, that is, transaction accounting is completed by multiple nodes distributed in different places, and each node records a complete account, so they can all participate in monitoring the legality of transactions, and can also jointly its testimony.
Different from traditional distributed storage, the uniqueness of distributed storage of blockchain is mainly reflected in two aspects: First, each node of the blockchain stores complete data according to the blockchain structure, Traditional distributed storage generally divides data into multiple copies for storage according to certain rules. Second, the storage of each node in the blockchain is independent and has the same status, and relies on the consensus mechanism to ensure the consistency of storage, while traditional distributed storage generally synchronizes data to other backup nodes through the central node. 
No node can record the ledger data alone, thus avoiding the possibility of a single bookkeeper being controlled or bribed to keep false accounts. Also because there are enough accounting nodes, in theory, unless all nodes are destroyed, the account will not be lost, thus ensuring the security of the account data.
(2) Asymmetric encryption and authorization technology, the transaction information stored on the blockchain is public, but the account identity information is highly encrypted and can only be accessed with the authorization of the data owner, thus Data security and personal privacy are guaranteed.
(3) The consensus mechanism is how to reach a consensus among all accounting nodes to determine the validity of a record, which is not only a means of identification, but also a means of preventing tampering. The blockchain proposes four different consensus mechanisms, which are suitable for different application scenarios and strike a balance between efficiency and security.
The consensus mechanism of the blockchain has the characteristics of “minority obeys the majority” and “everyone is equal”, in which “minority obeys the majority” does not completely refer to the number of nodes, but can also be computing power, equity or other A feature quantity that can be compared by a computer. “Everyone is equal” means that when a node meets the conditions, all nodes have the right to give priority to the consensus result, which may become the final consensus result after being directly recognized by other nodes. Taking Bitcoin as an example, the proof of work is used. Only when more than 51% of the accounting nodes in the entire network are controlled, it is possible to forge a�� Records that do not exist. When enough nodes join the blockchain, this is basically impossible, thus eliminating the possibility of forgery.
(4) Smart contracts, smart contracts are based on these credible data that cannot be tampered with and can be automated The implementation of some pre-defined rules and terms. Taking insurance as an example, if everyone’s information (including medical information and risk occurrence information) is true and credible, then it is easy to automate claims settlement in some standardized insurance products.
㈥ How do you view the country’s accelerated promotion of blockchain technology
1) First, clarify the technical value and positioning of the blockchain, as I said at the beginning, give the blockchain the positioning It is necessary to take the blockchain as an important breakthrough for core technology and independent innovation.
2) The blockchain, the Internet and artificial intelligence should be regarded as the same high-level technology, and the blockchain should officially enter the category of our hard technology development.
3) Indicates the development and application direction of our blockchain, including that the technology of blockchain has been extended to digital finance, Internet of Things, intelligent manufacturing, supply chain management, digital asset trading, etc. In many other fields, in terms of application, some regulatory or legal issues will inevitably arise during the application process. What are the instructions in the speech in this regard? He mentioned that the rule of law should be implemented into the management of the blockchain to promote the safe and orderly development of the blockchain.
4) At the more important point of application and development, it is mentioned that the blockchain can transform from virtual to reality, empower entities, improve people’s livelihood, gain industrial advantages, and better serve the development of the entire industrial economy. In fact, through the study of blockchain technology, we can express our attitude towards innovation and leadership in blockchain from one side or a signal released. We hope that in the development of blockchain, we can first have our own core technology, and we should In today’s fierce international competition, we are in a leading position.
5) It is to enhance the market confidence of the entire blockchain industry, especially for the application and development of blockchain technology as a whole, there is a great increase in market confidence, which is bound to attract more people in the next period of time. Many, including the capital market and, for example, more talents and research applications will enter this field. More capital, more manpower, and more other social-related aspects, including the rule of law, legislation, and multi-faceted attention will be able to better promote the application and implementation of the entire blockchain technology. This is my opinion on the district. Four points of view or summary of blockchain technology learning.
If you have been concerned about blockchain for a long time, in fact, from the national level, including from the “Thirteenth Five-Year Plan”, the blockchain technology has been written into the “Thirteenth Five-Year Plan” as a link to artificial intelligence, The development of big data and cloud computing as a parallel technology, including the introduction from the second half of 2018, the introduction of the filing of the blockchain application service by the Cyberspace Administration of China, is actually the development of the entire blockchain from all aspects. Do a positive guidance or a protective role.
Of course, when it comes to blockchain, everyone may also say in their previous understanding, whether blockchain will think of some speculation and the like, digital currency is actually only a relatively narrow field of blockchain. , we now include support from the mainstream of modern society or at the national level, and more support for the application of blockchain technology in the real industry, enabling the development of the real industry economy
The core advantage of blockchain technology is decentralization It can realize point-to-point transactions, coordination and collaboration based on decentralized credit in a distributed system where nodes do not need to trust each other by using data encryption, timestamps, distributed consensus and economic incentives, so as to solve the problem of centralized institutions. There are solutions to the pervasive problems of high cost, inefficiency, and insecure data storage.
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.
㈦ What is Blockchain (BlockChain) and how to explain it to make it easier to understand
If you want to understand the application of blockchain, you can refer to many books and viewpoints, such as “Illustration Area” “Blockchain”, “Blockchain: Reshaping the Economy and the World”, “New Economic Blueprint and Guide”, as well as articles from the Binance community, including a detailed understanding of the platform of the Binance community, which is powerful.
1. What is a blockchain
Blockchain, as the name suggests, is composed of blocks and chains, it is a distributed data storage , point-to-point transmission, consensus mechanism, encryption algorithm and other new application modes of computer technology. It is a chain data structure that combines data blocks in a sequential manner according to time sequence, and is cryptographically guaranteed to be tamper-proof and secure.�� Forgeable, secure and trusted distributed ledgers.
In 2008, Satoshi Nakamoto first proposed the idea of blockchain and encrypted digital currency in the paper “Bitcoin: A Peer-to-Peer Electronic Cash System”. Starting with Bitcoin, blockchain has become the underlying technology for a variety of digital currencies.
Second, the working principle of the blockchain:
1. The basic concepts include: (1) Transaction: One operation will change the state of the ledger once, such as adding a Records; (2) Block: Records transactions and status data that occur within a specified time, which is a consensus and preservation of the current ledger state; (3) Chain: Blocks are connected in chronological order It is a log record of the entire state change. After understanding the working concept of blockchain, it is not difficult to understand its working principle. Suppose there is a distributed data record book. This record book only allows additions, deletions and changes. Its structure is composed of “blocks”. A linear chain formed in series (this is also the source of the “blockchain” name), new data must be added to a new block, and the maintenance node can propose a new block, but it must go through a certain amount of time. consensus mechanism to reach consensus on the final selected block.
2. Take Bitcoin as an example to see how the blockchain works.
Bitcoin blocks are divided into two parts: block header and block body.
Three. Core advantages and characteristics of blockchain
1. Verification, accounting, storage, maintenance and control of decentralized blockchain data The transmission and other processes are all based on the distributed system structure, there is no centralized hardware or management organization, the rights and obligations of any node are equal, and the data blocks in the system are jointly maintained by nodes with maintenance functions in the entire system. 2. The open and transparent system is open, except that the private information of the transaction parties is encrypted, the data of the blockchain is open to everyone, and anyone can query the blockchain data and develop related applications through the open interface, so the entire System information is highly transparent. 3. Security The blockchain adopts consensus-based specifications and protocols (such as a set of open and transparent algorithms) so that all nodes in the entire system can exchange data freely and safely in a trustless environment, so that trust in “people” Changed to trust in the machine, any human intervention will not work. 4. Information cannot be tampered with Once the information is verified and added to the blockchain, it will be stored permanently. Unless more than 51% (almost impossible) nodes in the system can be controlled at the same time, the modification to the database on a single node is Invalid, so the data stability and reliability of the blockchain is extremely high. 5. Anonymity Since the exchange between nodes follows a fixed algorithm, the data interaction is trustless (the procedural rules in the blockchain will judge whether the activity is valid or not), so the counterparty does not need to disclose the identity of the other party. Generating trust is very helpful for the accumulation of credit.
4. Classification of blockchains
At present, the most mainstream classification of blockchains is to divide blockchains into public chains according to different participants. ), Private Blockchain and Consortium Blockchain.
1. Public chain: Anyone can participate in the use and maintenance, and can obtain effective confirmation of the block chain. The public chain is the earliest block chain and the most widely used block chain at present. , typically such as the Bitcoin blockchain, the information is completely public.
If a permission mechanism is introduced, there are two types of private chains and consortium chains. 2. Private chain: A company or individual that only uses the technology of the blockchain, has exclusive access to the blockchain, and the information is not disclosed. At present, conservative giants (traditional finance) all want to experiment with private blockchains, and the application products of private blockchains are still being explored. 3. Alliance chain: It is a blockchain between the public chain and the quasi-owned chain, and is jointly controlled by multiple organizations. The use of the chain is managed with authority, which can be controlled by the manager, and also according to the wishes of the manager Open to others. In addition, according to the different usage scenarios and purposes of the blockchain, it is divided into a currency chain for the purpose of digital currency, a property rights chain for the purpose of recording property rights, and a crowdfunding chain for the purpose of crowdfunding.
V. Analysis of specific application scenarios of blockchain
1. Information anti-counterfeiting
On May 28, Tencent CEO Ma Huateng made a speech at the Guiyang Digital Expo. The problem of anti-counterfeiting of Maotai wine is put forward: the anti-counterfeiting method based on cloud-based comprehensive blockchain technology will be much more efficient than traditional anti-counterfeiting methods. In future anti-counterfeiting verification scenarios, users may obtain a large amount of complete information based on different dimensions by simply scanning with their mobile phones.
Take Moutai as an example:
The address of the winery, the production workshop, the operator, the inspector, the time of leaving the factory, the transportation vehicle.�Information and driver information,
the source of the wine’s vintage raw materials, raw material suppliers, storage warehouse numbers, raw material transportation vehicles and driver information,
All information can be accurately traced , is permanently recorded and cannot be tampered with.
Combining the above information can easily verify the authenticity.
2. Food Safety Issues
As early as November last year, Walmart has cooperated with IBM to ensure food safety by using blockchain technology to track the origin of food For large supermarkets such as Walmart, it took several days to investigate the source of the food in question when there was a food safety problem. After using this technology, only one piece of information about the product is required. It can achieve accurate traceability, food origin, inspectors, suppliers, logistics and other important information, and problems can be quickly found within a few minutes. Products currently tracked using blockchain include packaged products in the United States and pork in China.
3. Information security
Blockchain technology is promoting a technological revolution in information security. Man-in-the-middle attack, data tampering, DDoS three security threats Technology. However, since most PKI implementations rely on a centralized trusted third-party certification authority (CA) to issue, activate, and store user certificates, hackers can attack PKI to impersonate user identities or crack encrypted information.
CertCoin is the first blockchain PKI implementation from MIT, which removes the centralized certification center and uses the blockchain as a distributed ledger for domain names and public keys.
Pomcor Company: Blockchain PKI Implementation Path: Retain the certification center, and use the blockchain to store the hash value of the certificates that have been issued and activated. Users can authenticate the authenticity of certificates through a decentralized and transparent source, and can also improve network access performance through local key and signature authentication based on blockchain copies.
(2) Data integrity protection
GuardTime has developed a keyless signature architecture (KSI) based on blockchain technology to replace key-based data authentication technology. KSI stores hash tables of original data and files on the blockchain, runs hashing algorithms to verify other copies, and compares the results with the data stored on the blockchain. Any data tampering will be detected quickly because the original hash table is stored in millions of nodes.
(3) Protection of critical infrastructure
The “Achilles’ heel” of the Internet, DDoS has entered the TB era, and DDoS is still the easiest way for hackers to take down big targets at low cost As a weapon of choice, DNS services are the prime target for hackers to wreak havoc on a massive scale, but blockchain technology promises to address the root cause.
Blockchain’s distributed storage, taking hackers out of focus, Nebulis is developing a distributed DNS system using the Ethereum blockchain and Interplanetary File System (IPFS, a distributed alternative to HTTP) product) to register and resolve domain names. The biggest weakness of DNS is caching, which enables DDoS attacks and is the bane of centralized governments censoring social networks and manipulating DNS registrations. A highly transparent, distributed DNS system can effectively prevent any entity, including governments, from arbitrarily manipulating records.
Fourth, the financial industry
(1) Digital currency: improve the convenience of currency issuance and use
For example, foreign bitcoin and ether, my country’s current There are nuts and so on.
From the use of physical transactions, to physical currency and credit currency, and then to the rise of the Bitcoin network, more people are aware of the distributed ledger blockchain technology behind it, and gradually it is outside the digital currency. application in many scenarios.
(2) Cross-border payment and settlement: realize point-to-point transactions and reduce intermediate costs
transfer and payment. At present, the most mature application of blockchain technology is payment and transfer. Blockchain technology can avoid complicated systems, save the process of inter-bank reconciliation and review, and speed up settlement; the use of virtual currency does not require the intervention of a clearing house, reducing transaction fee. Different countries have different liquidation procedures. It takes 2 or 3 days for a single remittance to arrive, which is inefficient and accounts for a large proportion of funds in transit. No longer through third parties, peer-to-peer payments are formed through blockchain technology. By eliminating the need for third-party agencies, you can make payments throughout the day, receive real-time accounts, quickly withdraw cash, and reduce hidden costs, helping to avoid capital risks. Timely convenience.
(3) Bills and supply chain finance business: reduce human intervention, reduce costs and operational risks
point-to-point value transfer, physical bills or central system for control and verification; intermediary will be eliminated, reducing human intervention. Efficiency is improved, financing channels are smoother, risks are lower, and multiple parties benefit.
(4) Securities issuance and trading: Realize quasi-real-time asset transfer and speed up transaction clearing
The application of blockchain technology can make the process of securities trading more concise and transparent.��, fast, reduce the repetitive function of the IT system, improve the efficiency of market operation. For stocks, blockchain can eliminate pen and paper or spreadsheet records, reduce human error in transactions, and improve the transparency and traceability of trading platforms. Citi partners with Nasdaq to advance blockchain applications.
(5) Customer credit reporting and anti-fraud: reducing legal compliance costs and preventing financial crimes
Customer information and transaction records recorded in the blockchain help banks identify Unusual transactions and effective fraud prevention. The technical characteristics of the blockchain can change the existing credit reporting system. When the bank conducts “Know Your Customer” (KYC), the data of customers with bad records will be stored in the blockchain.
Equity crowdfunding: Equity crowdfunding based on blockchain technology can achieve decentralized trust, and investor returns are guaranteed.
5. Supply Chain Management
A distributed ledger system, where participants track ownership of assets throughout, can be applied to track auto parts as they move between countries and factories.
Toyota operates its core parts supply chain and develops blockchain technology solutions. Using large amounts of data helps Toyota more efficiently ensure the accuracy of recorded data, and also helps manage the supply chain. At the same time, the blockchain supply chain can control the warranty, repair goods related costs and specifications through smart contracts, and transactions throughout the product life cycle are irrevocable.
The shipping industry’s first public solution solution was deployed by Maritime International (MTI), using blockchain supply chain technology to share Verified Gross (VGM) information for shipping containers. Information about container VGM is very important to ensure that ships are properly stowed and prevent accidents at sea and in port. VGM data is stored on the blockchain supply chain, providing permanent records for port officials, shipping companies, shippers and cargo owners. This replaces cumbersome logs, spreadsheets, data intermediaries and private databases.
Logistics Integrity System Huochebang Huochebang has launched a blockchain-based logistics enterprise financial solution, aiming to provide enterprises with reliable financial services. It can not only help drivers solve the problem of loan difficulties, but also change the status quo of lack of integrity in the industry and help build a logistics integrity system. Help build the identity chain of logistics enterprises and create a trusted data ecology of logistics enterprises. With a transparent, supervised and traceable algorithm model, we can screen reliable companies that need financial support and provide them with financial services. On the other hand, at the technical level, various law enforcement departments are linked to jointly punish untrustworthy enterprises.
6. Government affairs management
Based on the technical characteristics of blockchain and the drawbacks of the current election technology, we will build an open source , The blockchain application for election, voting and lottery, we call it ElectionChain. We hope to optimize election and voting technology to make voting more open and transparent, reduce human manipulation, and allow voters to verify their election results.
Including identity authentication, multi-chain system, flash investment protocol, consensus algorithm EDPOS, privacy protection, voting mechanism design, decentralized ELC rental market, storage solutions, smart contracts, etc.
(2) Government services
Aiming to realize an e-government digital ecosystem based on blockchain technology, to provide citizens with government services and automated mechanisms for the business of various government departments, it must be All areas of national government affairs are combined to form a common information space, including government agencies, economic data, financial transactions and social fields. This ecosystem should also include registry agencies and corresponding software for building smart contract-based applications and platforms for government agencies, businesses, and public users.