The so-called blockchain technology, referred to as BT(Blockchain technology) for short, also known as distributed ledger technology, is an Internet database technology, which is characterized by decentralization, openness and transparency, so that everyone can participate in database recording.
blockchain application:
1. Finance: mainly to reduce transaction costs and reduce cross-organizational transaction risks. The blockchain application in this field will mature as soon as possible, and banks and financial trading institutions will be the main promoters.
financial blockchain
since human society, financial transactions have been an indispensable economic activity. Different trading roles and contents reflect different production relations. Through trading, we can optimize the efficiency of society and maximize the value. The development of human society is inseparable from the evolution of transaction forms. It can be seen how important the transaction is in human society. In essence, the transaction exchanges the ownership of value. Now in order to complete the transaction (such as the ownership of houses and vehicles), some intermediate links are often needed, especially the intermediary guarantee role. This is because there is often insufficient trust between the two parties to the transaction, and it is not easy to prove the ownership of value, and often the value of each other cannot be exchanged directly. Reasonable intermediary guarantee ensures the normal operation of transactions and improves the efficiency of economic activities. However, the existing third-party intermediary mechanism often has shortcomings such as high cost, long time period, complicated process and easy to make mistakes. It is precisely because of these that financial services have become one of the hottest application areas of blockchain. Blockchain technology can provide effective and reliable proof of ownership and a fairly strong intermediary guarantee mechanism for financial services. Financial services involve currency, securities, insurance, donations and so on.
2. Credit investigation and ownership management: This is the dream of large social platforms and insurance companies. At present, there are still insufficient data sources, reliable platform support and effective data analysis and management. The threshold for entrepreneurship in this field is extremely high and needs top-down promotion. Because anything that needs to deal with the government has always been difficult to carry out immediately.
Credit management is a huge potential market, which is said to exceed 1 billion (Ping An Securities Report, Wells Fargo Report), and it is also one of the most promising directions of big data application at present. At present, a large number of valid data related to credit investigation are mainly concentrated in the hands of a few institutions. Because these data are too sensitive and are the lifeblood of business, they are often closely protected, thus forming a high industry threshold. Although a large number of Internet companies (the most successful one should be facebook) have tried to obtain massive user information from various dimensions, there are still some problems in these data from the perspective of credit reporting. Insufficient data: the greater the data, the higher the value that can be obtained, and there is a lower limit for the effective value generated by data. The amount of data below the lower limit cannot produce effective value; Poor correlation: the core data is often the most sensitive. In today's highly sensitive privacy, users don't want to expose too much data to third parties, so the effective components in the data obtained by enterprises are actually very few; Lack of timeliness: The user data that enterprises can obtain from the surface is often outdated, and even contains false information, which seriously interferes with the credibility of relevant analysis.
however, the blockchain has the characteristics that it cannot be tampered with and cannot be denied. At the same time, the blockchain will likely provide unprecedented scale of highly relevant data, which can be accurately located in time and space and strictly related to users. Therefore, providing data for credit management based on blockchain will greatly improve the accuracy of credit evaluation and reduce the cost of evaluation. In addition, unlike the traditional manual audit, blockchain technology relies entirely on mathematical achievements, and the credit mechanism based on blockchain will naturally be stable and neutral. Including IDG, Tencent, Ernst & Young, PricewaterhouseCoopers, etc. have all invested in or entered the field of credit management based on blockchain, especially the application scenarios related to insurance and mutual aid economy.
3. Enjoy resources * * *: Companies represented by airbnb will welcome such applications, greatly reducing management costs. This field has a low threshold for entrepreneurship and a concentrated theme, which will be popular with investment.
In the era of big data, value comes from data mining. The more data dimensions, the larger the volume, and the higher the potential value. How to evaluate the value of data, how to use data for exchange and transaction, and how to prevent valuable data from being leaked without permission have always been a headache. Blockchain technology provides potential possibilities for solving these problems. Using the unified account book composed of blockchain, the flow of data between multiple parties will be tracked and managed in real time, and the management cost of data enjoyment can be effectively reduced through the control of access rights.
4. Investment management: Blockchain technology can be used to reduce management costs and control risks for both public and private funds. Although there is a test of water like DAO, it is prudent to think that the demand in this field is not yet mature. However, Xiaoyao has found that China's major startups have begun to test the water in this field, hoping for a major breakthrough.
In international trade activities, buyers and sellers may distrust each other. Therefore, two banks are needed as guarantors of buyers and sellers, to collect and pay documents on their behalf, and to replace commercial credit with bank credit. Blockchain can provide * * * identical account books for participants in letter of credit transactions, allowing banks and other participants to have confirmed * * * identical transaction records and perform according to them, thus reducing risks and costs. With the crowdfunding management represented by DAO (Decentralized Autonomous Organization), DAO once set a record for financing, exceeding 16 million US dollars.
5. internet of things and supply chain: the internet of things is a very suitable field, and a large number of applications will appear in the short term, especially in specific scenarios such as leasing and logistics. However, the development limitations of the Internet of Things itself will make it difficult for large-scale applications to appear in the short term.
The supply chain industry often involves many entities, including logistics, capital flow, information flow, etc. There are a lot of complicated cooperation and communication among these entities. In the traditional mode, different entities keep their own supply chain information, which seriously lacks transparency, resulting in high time and money costs, and it is difficult to trace and deal with problems (fraudulent use, counterfeit goods, etc.) once they occur. Through the blockchain, all parties can obtain a transparent and reliable unified information platform, which can check the status in real time, reduce the logistics cost, and trace the whole process of goods production and transportation, thus improving the efficiency of supply chain management. When a dispute occurs, it becomes clearer and easier to prove and trace. This field is considered to be a promising application direction of blockchain. IBM has been investing in research and development in the field of Internet of Things for decades, and is currently exploring the use of blockchain technology to reduce the cost of Internet of Things applications.
Blockchain is applied only after it has the technology, just like Huixin Cloud Platform: only when it has the platform, product managers can enter the platform for a development, so technology and application should progress together.
The application of blockchain technology is different in the industry field, and its functions and effects are also different. Let's take the credit system field as an example. Because the disclosure of personal information will cause great harm to the information person, so that it will be harassed conservatively. What is even more frightening is the disclosure of personal information, which is usually accompanied by tens of thousands of personal information being stolen and illegally sold, and even using formal data trading institutions to steal data.
With the rise of blockchain technology, the encryption of blockchain technology can provide a solution for the protection of personal information. Blockchain technology can save personal information in a distributed way, avoiding the security risks faced by a single server.
and as one of the most icebreakers in blockchain technology research, Jinwowo Network Technology has deeply researched and applied blockchain technology. Jinwowo's big data service based on blockchain can prevent illegal reselling of data and re-establish data circulation rules from four aspects: data storage, data analysis, data tracking and data security.