public chain, alliance chain (license chain) and private chain can basically include three ways to use blockchain technology. In recent years, the planning, fund-raising, development and ecological construction of public chains have been carried out in a hubbub, which is real, deceptive and full of excitement. Investors' money has actually gone in, but there are not many online public chains, and the ecological construction of a few online public chains is sparse, DApp is few and far between, and the daily work is even worse. In short, the current public chain projects can or can not be said.

Private chains are self-built and internally operated blockchain structures of their respective enterprises and institutions, with little information disclosed. However, it is believed that there will be no major problems if you use your own money to do your own things and solve your own problems.

The development of alliance chain has always been low-key. Since the blockchain technology was recognized by the mainstream economy and society, pragmatic mainstream economic institutions have been conducting research, development and application for about four years, during which they have formed the backbone of alliance chain, which has explored another right path for the application of blockchain and ecological construction. In a certain sense, alliance chain has gone through infancy and has begun to step into a new era of "public alliance chain". The strong relationship between the alliance chain and the resources of mainstream economic industries also determines the mainstream position of the alliance chain in the application prospect of blockchain technology.

with the opening of the digital economy era and the popularization of distributed business models, blockchain technology has also been able to play its advantages and become the representative of cutting-edge technology. In 216, Weizhong Bank, Shanghai Wanxiang Blockchain and Matrix Yuan, members of Golden Chain Alliance, reached a strategic cooperation, and * * * are committed to exploring blockchain technology. < P > The full name of Golden Chain Alliance is Financial Blockchain Cooperation Alliance (Shenzhen), which was established on May 31, 216 by more than 2 financial institutions and technology enterprises including Shenzhen Financial Technology Association, Shenzhen Qianhai Weizhong Bank and Shenzhen Zhengtong. As an open organization, Golden Chain Alliance can apply to join financial institutions that voluntarily abide by the articles of association and enterprises that provide scientific and technological services to financial institutions. Up to now, the members of Golden Chain Alliance have covered more than 8 institutions in six major industries, including banks, funds, securities, insurance, local equity exchanges and technology companies.

On November 26th, 216, Jinlian Alliance issued the Proposition of Financial Distributed Accounting Books, which put forward five principles, namely, legal compliance, traceability, security, privacy protection and business orientation, and seven propositions, namely, value alliance, independent control, safety and credibility, efficient availability, business feasibility, flexible configuration and intelligent supervision.

purpose: to integrate and coordinate the research resources of financial blockchain technology, form a joint force and coordination mechanism of financial blockchain technology research and application research, improve the research and development capabilities of member units in the field of blockchain technology, explore, develop and realize the financial alliance blockchain suitable for financial institutions, and the application scenarios based on it.

The General Assembly of the Golden Chain Alliance is the highest authority; The standing body of the general assembly is the presidium, which leads the Union to carry out its daily work when the general assembly is not in session and is responsible to the general assembly; The presidium consists of a technical committee (presiding over the application project), a standards technical working committee (presiding over the establishment, formulation, validation and release of standards) and an advisory committee (organizing external experts to participate in the discussion of technologies and standards).

jinlianmeng has set up research directions in the fields of credit, equity, points, insurance, bills, cloud services, digital assets, issuance and trading of wealth management products, and some research projects have now landed or launched product prototypes.

the underlying open source platform (FISCO BCOS) of jinlianmeng blockchain was created by the collaboration of jinlianmeng open source working group. The members of the working group include members of the Golden Chain Alliance, such as Boyan Technology, Huawei, Shenzhen Stock Exchange, Digital China, Sifang Jingchuang, Tencent, Weizhong Bank and Yuexiu Jinke, aiming at creating a secure and controllable blockchain underlying platform suitable for the financial sector.

Financial services is one of the earliest application fields of blockchain. Blockchain technology has the advantages of safety and reliability, simplified process, cost saving, reduced operational risk and increased trust, and has the potential to reconstruct and sublimate the original financial infrastructure. The financial industry pays attention to multi-party peer-to-peer cooperation, has strong supervision and high-level security requirements, and needs to make requirements for node access and authority management, so the technical direction of alliance chain has become the main choice for the financial industry.

At present, China's financial industry is opening to the outside world like never before, and the pace of financial innovation is also accelerating. Therefore, how to effectively balance the relationship between open innovation and risk prevention and firmly hold the bottom line that systematic risks will not occur is an urgent challenge for the industry.

from the perspective of financial IT infrastructure, there are still some shortcomings and pain points in operational risk, moral risk, credit risk and information protection risk.

firstly, the data of financial IT system may still be tampered with, forged or inconsistent.

second, different financial institutions have different infrastructure structures and business processes, and even involve more manual processing links, which greatly increases operating costs and is prone to operational risks and moral hazards.

thirdly, financial business and financial cooperation involve multiple participants or intermediaries, which is easy to increase trust cost and friction cost, and there are also some problems of mutual trust, cooperation or cooperation equivalence.

fourthly, financial business is often complicated, and it is easy to miss the record of all elements of the business, and sometimes it is difficult to trace the whole business process, which cannot meet the requirements of supervision and audit.

fifth, the data between different financial institutions are relatively independent, so it is difficult to achieve safe and efficient interaction, which leads to the high cost of repeated KYC, anti-money laundering and anti-fraud, and indirectly brings the risk of user data being leaked by some intermediaries.

sixth, the availability and adaptability of centralized IT infrastructure is weak, so distributed technology is needed to improve its robustness or adaptability.

as a combined infrastructure solution, blockchain technology can meet the needs of the financial industry in principle. However, due to the more diversified and strict requirements of the financial industry, as a financial version of the blockchain solution, it is necessary to comprehensively consider the business suitability, performance, security, policy, technical feasibility, operation and maintenance and governance, cost and other dimensions on the basis of the blockchain technology of the universal industry, according to the special business needs of financial institutions, the existing technical level and the requirements or conditions of laws and regulations.

first, the appropriateness of the business scenario. Not all financial business scenarios need to adopt blockchain technology. Generally speaking, when it comes to scenarios involving multi-party participation and peer-to-peer cooperation, the traditional centralized system architecture is often difficult to meet the demand, so blockchain technology can be considered to increase mutual trust, improve business operation efficiency and reduce business operation costs and friction costs.

second, the performance of the blockchain system. Financial services often have the characteristics of massive transactions, high-frequency transactions, timely confirmation, etc. Therefore, the blockchain open source platform of the financial industry needs to analyze the technical performance indicators such as the business volume, potential business growth scale, concurrent business volume and response time that the blockchain system needs to support according to the current business scale of financial institutions. Because the performance support of blockchain platforms with different technical modules, such as different * * * knowledge mechanisms, is quite different, it needs to be evaluated according to business performance requirements and combined with blockchain performance efficiency indicators.

Third, the security of the blockchain system. Blockchain can ensure the credibility of recorded data from the technical level and prevent data from being tampered with and forged. In addition, in terms of data sensitivity and security, it is necessary to evaluate the content encryption strength of uplink data and access control. Financial institutions need to choose a mature, suitable and secure encryption algorithm according to the specific security requirements of their business.

fourth, policy compliance. Blockchain is a set of technical solutions. Under the premise of reasonable design, it can support the existing business or supplement the existing centralized system. However, in the process of using blockchain to conduct business, financial institutions must implement it within the existing regulatory requirements and legal framework of the country.

fifth, technical feasibility. Blockchain technology has landed in some financial scenarios, but it is still a new technology. It is necessary to fully evaluate the fit between this technology and specific business and its advantages and disadvantages compared with traditional systems, and finally choose the appropriate blockchain platform for demonstration and trial operation.

sixth, the ability of operation and maintenance and governance. Because there are differences between the business based on blockchain and the traditional centralized system in operation and management, and the continuous governance of financial business is extremely demanding, it is necessary to make corresponding planning and adjustment, evaluate the feasibility and sustainability of the new governance structure, evaluate the influence of version iteration and the official launch of the system, and monitor the operation of blockchain system in real time to ensure the controllability of business and the stability of financial environment.

Seventh, the cost is controllable and economically feasible. Blockchain applications solve specific problems in actual business through technical characteristics, and applications that effectively solve pain points can bring great benefits to financial business, and the value of the application itself can also be revealed; On the contrary, if we can't solve the important problems in the industry, we need to face the trade-off between cost and income.

if we can build a safe and reliable financial blockchain underlying platform for the special needs of the financial industry, blockchain technology will be of great use in the financial industry.

For example, from the perspective of banking institutions, the key exploration directions are generally to apply blockchain technology to reduce clearing and settlement costs, improve the efficiency of middle and back office operations, enhance the degree of process automation and reduce operating costs. In addition, in the cross-border financial scenario, blockchain helps to realize the sharing of account books between cross-border financial institutions, reduce the cost of reconciliation and settlement between cooperative banks and the cost of dispute friction, thus improving the processing speed and efficiency of cross-border business.

from the perspective of non-bank financial institutions, blockchain can be used to enhance the authority of rights and interests registration, information depository, reduce the risks of counterparties, solve the problems of data tracking and information anti-counterfeiting, and reduce the operating cost of auditing.

From the perspective of financial regulators, blockchain provides regulators with consistent and easy-to-audit data. By analyzing the data of inter-agency blockchain, it can supervise financial business faster and more accurately than the traditional audit process. For example, in the anti-money laundering scenario, the balance and transaction records of each account are traceable, and any link of any transaction will not be out of the sight of supervision, which will greatly strengthen the anti-money laundering efforts.

an efficient and reliable message communication protocol based on blockchain network is designed, which is called advanced messenger on-chain protocol for short, focusing on the following functions:

? Based on the blockchain network, it supports real-time message communication between banks and point to point;

? Provide a standardized interface for the interaction between the offline system and the blockchain;

? The blockchain system can actively call the business interface of the system under the chain;

the technical features of this protocol are:

? In the point-to-point blockchain network topology, plan the communication path of nodes to ensure that messages can be reached;

? It can quickly perceive the node abnormality of the blockchain network and automatically switch paths to resend messages;

? Encryption technology is used in the communication process to ensure the privacy of the communication layer.

CNS(Contract Name Service) is designed. The design goal of CNS is to name the correspondence between business layer and smart contract, so that business layer no longer cares about the related contract address. Similar to DNS to the Internet, the use of domain names makes it easier for users to remember the access methods of websites, and also gives websites great flexibility in clustering, migration and expansion.

parallel PBFT *** understanding

standard RAFT *** understanding

parallel computing and hot account solution

FISCO BCOS has made in-depth exploration in data integration analysis, transaction control and identity authentication, so as to meet the high standard requirements of the financial industry in terms of supervision and risk control.

Risk data integration

Based on the data that can't be tampered with, can be traced and distributed with high consistency on the blockchain, it can give full and transparent information to the regulatory authorities. The transaction participants, transaction details, transaction processes and transaction history records are all recorded in the blockchain ledger, which can completely and properly preserve massive historical data, solve the problem of data islands and meet the requirements of structured, clear, accurate and complete risk data.

risk modeling, analysis and prediction

organically combining the data completed in the blockchain with big data mining, machine learning and other technologies, and then integrating market data and industry data, a more accurate risk model can be formulated, the risk prediction ability can be improved, and the requirements of comprehensive risk management of institutions can be met.

Real-time transaction monitoring, reporting and interception

Special prize: ODRchain- a typical application of public alliance chain

ODRChain, the most eye-catching champion project, based on the underlying platform of FISCO BCOS, uses blockchain technology to solve the pain points of traditional judicial online disputes, such as the difficulty in authenticating the authenticity of electronic data and the inability to digest a large number of cases and disputes with a rapid backlog.

at present, ODRChain has realized the time-consuming process from clicking on "one-click arbitration" to receiving the arbitration award, which has been shortened from the traditional arbitration process of several months to about 7 days, and the arbitration fee, which used to be tens of thousands, has also been reduced to several hundred yuan. As of December 218, ODRChain has completed the deposit of more than 1 million contracts, involving hundreds of billions of funds.

first prize: just sign-a project in which the white-box cipher algorithm turns the mobile phone into a U-shield

to seize the first prize seat in the contest-is an electronic contract signing and certificate storage system based on FISCO BOCS, and its original JustKey white-box cipher algorithm realizes "the mobile phone is a U-shield", which solves the problems of limited compatibility of traditional CA, inability to protect the security of keys on the mobile side and vulnerability of centralized data storage.

according to expert review, electronic contracts involve complicated legal relations and interest attribution, and it has been difficult to achieve the balance of security, integrity and portability for a long time. The team's original white-box cryptographic algorithm is really conducive to the security improvement in the blockchain deposit scenario.

Second prize: Trusted Interconnection Solution of the Internet of Things-Smart Life Scenarios are so long

The Trusted Interconnection Solution of the Internet of Things entered by Sichuan Changhong Security Lab depicts a smart home blueprint that hardly requires you to pay more attention. When analyzing the blockchain technology behind it, the team representative said that the cooperation alliance between enterprises should be established based on the alliance chain, and the interconnection and mutual trust of IoT devices between different manufacturers should be opened up. On the basis of insight into the typical business scenarios of smart life, smart terminal registration, scene rules, trust rules and linkage rules should be realized through smart contracts.

the expert review of the competition believes that the project is in