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Blockchain industry enters a stage of rapid development

Author:Hubi Date:2018-07-25 14:22:28

Since 2018, the blockchain industry has flourished. Recent research by the reporter found that the exploration and application of blockchain is not limited to the underlying platform. Internet giants and financial giants have already strengthened the use of blockchains in areas such as finance, public welfare, and commodity traceability, especially in the financial sector. Chain technology accelerates the application of the core.


According to the "White Paper on China's Blockchain Industry Development in 2018" issued by the Ministry of Industry and Information Technology, China's blockchain industry is currently at a high-speed development stage. As of the end of March 2018, the number of blockchain companies with a blockchain business as the main business in China reached 456, and the industry initially formed a scale.


In June of this year, Hurun ranked the “2018 Hurun Blockchain Enterprise Rankings” in Shenzhen. From the classification of TOP20 enterprises in the rankings, in addition to 13 companies focused on the underlying platform and blockchain hardware. In terms of blockchain infrastructure and platform construction, the application scenarios of blockchain have been gradually enriched. From the perspective of the distribution of industrial segments, there are 7 industrial application companies, mainly Internet companies (Alibaba, JD, Tencent) for the public welfare and commodity traceability, as well as the evolution of financial enterprises (Ping An, China Merchants Bank, Bank of China) Financial technology applications such as supply chain finance, bills and transaction clearing.


Blockchain industry enters a stage of rapid development


Since the blockchain can realize the irreversible change of information, the possibility of data being falsified is eliminated from the root cause, especially the financial industry with higher requirements for real data, which will more actively embrace the blockchain.


For example, the traditional trading mode is the mutual accounting of both parties. After the transaction is completed, both parties need to spend a lot of manpower and material reconciliation, and the data is the other party's record, and the authenticity is difficult to guarantee. The data on the blockchain is a distributed record, and each node can obtain all the transaction information. Once the change is found, the whole network can be notified to prevent tampering. Moreover, the transaction and clearing process are synchronized in real time, and the transaction process completes the transfer of value, which also completes the fund clearing, improves the efficiency of fund settlement and clearing, and greatly reduces the cost.


According to the reporter's research, Bank of China and China Merchants Bank have applied blockchain technology to traditional financial fields such as financial instruments and liquidation.


In addition, as an emerging technology, the blockchain is applied in the actual production environment of the financial industry, and there are still many technical difficulties, such as throughput, scalability, consensus mechanism, privacy and security, and manageability.


Regarding the above-mentioned problems, the “credit chain” of the financial account of China Ping An’s technology company has proposed a targeted solution. "With the help of encrypted information and authorized decryption sharing technology, the credit chain supports the rapid one-click deployment of the national secret algorithm, which is expected to become the international framework standard throughput efficiency solution. This solution not only reduces the small and medium banks and financial institutions to obtain high The cost of performance blockchain bottom-level design services also creates a transparent and efficient regulatory environment for regulators,” said Huang Yuxiang, chief technology officer and chief operating officer of Financial Accounts.


The industry generally believes that technological innovations such as blockchain are of great significance to the financial industry and are expected to accelerate the process of “trustworthy digitization” and continue to drive finances to “deviate from reality”.