Cooperation agreement of blockchain Alliance
blockchain includes public blockchain, joint (instry) blockchain and private blockchain. Public chain point-to-point e-cash system: bitcoin, smart contract and decentralized application platform: Ethereum
blockchain is a new application mode of distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm and other computer technologies
blockchain is an important concept of bitcoin. In essence, it is a decentralized database. At the same time, as the underlying technology of bitcoin, it is a series of data blocks generated by using cryptographic methods. Each data block contains a batch of bitcoin network transaction information, Used to verify the validity of its information (anti-counterfeiting) and generate the next block
extended data
according to the different degree of blockchain network centralization, three kinds of blockchains under different application scenarios are differentiated:
1. The blockchain with the whole network open and without user authorization mechanism is called public chain
2. The authorized nodes are allowed to join the network, and the information can be viewed according to the authority. It is often used in the inter agency blockchain, which is called alliance chain or instry chain
3. All the nodes in the network are in the hands of one organization, which is called private chain
alliance chain and private chain are also called licensing chain, and public chain is called non licensing chain
blockchain features
1, decentralization. Blockchain technology does not rely on additional third-party management institutions or hardware facilities, and there is no central control. In addition to the self-contained blockchain itself, each node realizes information self verification, transmission and management through distributed accounting and storage. Decentralization is the most prominent and essential feature of blockchain
2. Openness. Blockchain technology is based on open source. In addition to the private information of all parties involved in the transaction is encrypted, the data of blockchain is open to everyone. Anyone can query blockchain data and develop related applications through the open interface, so the information of the whole system is highly transparent
3. Independence. Based on consensus specifications and Protocols (similar to various mathematical algorithms such as hash algorithm used by bitcoin), the whole blockchain system does not rely on other third parties, and all nodes can automatically and safely verify and exchange data in the system without any human intervention
4. Safety. As long as 51% of all data nodes cannot be controlled, the network data cannot be arbitrarily manipulated and modified, which makes the blockchain itself relatively safe and avoids subjective and artificial data changes
5. Anonymity. Unless there are legal requirements, technically speaking, the identity information of each block node does not need to be disclosed or verified, and the information can be transferred anonymously
On January 14, 2020, Beijing time, Guangdong Zhongke intelligent blockchain Technology Co., Ltd. successfully held the global open source of the underlying technology of IOT blockchain and the launch conference of the ecosystem service system in Huangpu, Guangzhou. It released the underlying technology platform of IOT blockchain iovblockchain to the whole world, relying on mdpos algorithm and cross chain technology, It has officially become the representative platform of the fourth generation blockchain algorithm technology, and ranked among the top ten blockchain underlying technology platforms in the world. After China Science and Technology Corporation settled in Huangpu, in just two months, the number of patent applications for blockchain technology has reached 11.2% of the number applied by the people's Bank of China, and 1.3% of Alibaba, the world's largest patent application company for blockchain technology. It has become the backbone of Guangzhou Huangpu blockchain instry's successful incubation and participation in global blockchain technology competition. At the press conference, China Science and Technology Corporation, Guangzhou intelligent network automobile demonstration area operation center and Zhenbao Bus Group signed a tripartite agreement on blockchain technology application cooperation, which became another important scene of blockchain technology application in Huangpu District
the technological infrastructure route in the development of blockchain instry is particularly important, including the core content of underlying algorithm ability, open source service ability, ecosystem development ability, instry standardization process and digital chip instry application. After long-term scientific research incubation, China Science and Technology Corporation has completed the open source of the underlying blockchain algorithm and started the ecological service system, and will start the standardization construction of the blockchain of the Internet of vehicles and the design and development of digital chips in 2020. The launch of iovblockchain's open source and ecological services indicates that the underlying technology strength of China's blockchain is changing the global competition pattern of a new generation of information technology. In terms of underlying technology and business ecology, as one of the core technology representatives of blockchain, it leads China's blockchain instry and becomes a Chinese force participating in global competition
the press conference was guided by the instry and Information Bureau of Huangpu District of Guangzhou City and supported by the block chain instry association of Guangzhou City, the block chain alliance of Guangdong, Hong Kong and Macao Dawan District, blockchain 728, Guangdong automotive supplies chamber of Commerce and Internet of vehicles branch. More than 100 representatives from instry organizations and core blockchain enterprises attended the press conference and participated in the technology docking activities
this article comes from the author of auto home, which does not represent the standpoint of auto home
Moody's, the world's famous bond rating agency, has given 127 blockchain cases, from points to transaction clearing, from document storage to supply chain management, from cross-border payment to supply chain finance, and various applications emerge in endlessly
among so many applications, supply chain finance has attracted much attention, and its commercialization has made rapid progress
this is because, first of all, the supply chain finance scene has a trillion level market scale, and the ceiling is high enough. Secondly, this scene naturally needs multi-party cooperation, but there is no traditional centralized institution in governance, and it needs to use blockchain to build trust. At the same time, technically, this scene does not need high concurrency, and the current blockchain technology can meet it
1. Supply chain finance is a trillion level market
supply chain finance refers to the comprehensive financial procts and services provided to the upstream and downstream enterprises in the supply chain by taking the core enterprises and their related upstream and downstream enterprises as a whole, relying on the core enterprises, taking real trade as the premise, and using the method of self compensating trade financing
according to the different financing collateral, financial institutions divide the supply chain finance into accounts receivable, prepayment and inventory financing, among which the scale of accounts receivable is particularly large< According to the data from the National Bureau of statistics, at the end of 2016, the accounts receivable of China's Instrial Enterprises above designated size were 12.6 trillion yuan, an increase of 10% over the same period of last year, which generated a huge financing demand for enterprises. Compared with the huge accounts receivable, China's annual commercial factoring volume was only about 200 billion yuan in 2015. It can be seen that there is still a large number of supply chain demand has not been met, so the development space of supply chain finance instry is huge
2. How to solve the pain point of supply chain finance with blockchain
pain point 1: the financing of small and medium-sized enterprises in the supply chain is difficult and the cost is high
because banks rely on the ability to control goods and regulate sales of core enterprises, for the sake of risk control, banks are only willing to provide factoring services to upstream suppliers (limited to primary suppliers) with direct accounts payable obligations of core enterprises, Or provide advance payment or inventory financing to its downstream distributors (primary suppliers)
as a result, the demand of secondary and tertiary suppliers / distributors with huge financing demand can not be met, the business volume of supply chain finance is limited, and SMEs can not get timely financing, which will easily lead to proct quality problems and damage the whole supply chain system
blockchain solution:
we issue and run a kind of digital bill on the blockchain, which can be split and transferred freely in the case of transparency and multi-party witness
this model is equivalent to making the credit in the whole business system conctive and traceable, providing financing opportunities for a large number of SMEs that could not have been financed, greatly improving the efficiency and flexibility of bill circulation, and recing the capital cost of SMEs
according to statistics, in the past, traditional supply chain finance companies could only provide financing services for about 15% of suppliers (small and medium-sized enterprises) in the supply chain, while after adopting blockchain technology, 85% of suppliers could enjoy financing convenience
pain point 2: as the main financing tool of supply chain finance, the use of commercial bills and bank bills at this stage is limited, and the transfer is difficult
the use of commercial bills is subject to the reputation of enterprises, and it is difficult to control the arrival time of bank bill discount. At the same time, if we want to transfer these bonds, the difficulty is not small
because in the actual financial operation, banks are very concerned about the legal effect of "Notice of transfer" of accounts receivable claims. If the core enterprise cannot sign back, banks will not be willing to extend credit. It is understood that the bank is very cautious about the legal effect of signing the "Notice of assignment" of creditor's rights, and even requires the legal representative of the core enterprise to go to the bank to sign it face to face. Obviously, this way of operation is extremely difficult
blockchain solution:
an alliance chain can be built between banks and core enterprises, which can be used by all member enterprises in the supply chain. By using the characteristics of multi-party signature and tamper proof of blockchain, the transfer of creditor's rights can get multi-party consensus and rece the difficulty of operation
of course, the system design should be able to achieve the legal notice effect of bond transfer. At the same time, the bank can trace the transactions of each node and draw a visible transaction flow chart
pain point 3: it is difficult for the supply chain financial platform / core enterprise system to prove its innocence, resulting in high risk control cost of the capital side
in the current supply chain financial business, banks or other capital sides are concerned about the authenticity of the transaction information itself in addition to the repayment ability and willingness of the enterprise, and the transaction information is recorded by the ERP system of the core enterprise
although ERP tampering is difficult, it is not absolutely credible. Banks are still worried that core enterprises and suppliers / dealers collude to modify information, so they need to invest manpower and material resources to verify the authenticity of the transaction, which increases the additional cost of risk control
blockchain solution:
as a "trusted machine", blockchain has the characteristics of traceability, consensus and decentralization, and the data on the blockchain has a time stamp, so even if the data of a node is modified, it can not cover the sky. Therefore, blockchain can provide an absolutely trusted environment and rece the cost of risk control on the capital side, Solve the bank's doubts about being tampered with information
3. How should blockchain companies cut into supply chain finance
in terms of market choice, we believe that blockchain start-ups should choose the segments with high enough ceiling, such as household appliances, automobile, retail, clothing, pharmaceutical instry, etc. On the one hand, these instries have a broad market, on the other hand, their supply chain management infrastructure is relatively perfect, and the early cost of block chain is relatively small
we believe that there are two modes for blockchain companies to enter supply chain finance
the first is to directly cooperate with core enterprises / platforms to provide them with the underlying solutions of blockchain. After accumulating enough data, they can provide financial services to the investors by building alliance chain Alliance chain mode)
in view of the fact that the blockchain itself can not solve the problem of risk control, enterprise level risk control still needs to focus on strong core enterprises at the present stage. At the same time, obtaining the support of core enterprises can also effectively solve the problem of customer acquisition, because a large core enterprise generally has thousands of various suppliers
at present, domestic blockchain companies start from core enterprises, including Bubi and Wanglu technology. Bubi has launched an alliance chain "Bunuo" for supply chain finance, linking banks, core enterprises and factoring companies. Bunuo is based in Guangzhou and Shenzhen, radiating southeast business, and digging deep into the field of supply chain finance, Previously, it signed a strategic cooperation agreement with Yigang
the second mode is to provide supply chain management services, such as traceability, tracking, visualization, etc., to integrate information flow, logistics and capital flow, and then engage in financial services Private chain mode)
this mode is equivalent to building an application scenario with blockchain. Just like Alipay, if Ma Yun did Alipay directly, it would be difficult to do so because there was no application scenario, so Taobao first served the real economy. With Taobao, Alipay emerged as a centralization trust scenario and grafted other applications on Alipay before accomplishments.
at present, among the domestic blockchain companies, bitse and food premium are the ones that adopt the supply chain service mode
for example, vechain provides a method of anti-counterfeiting and traceability, by implanting an NFC chip into each commodity, registering the commodity on the blockchain, so that it has a digital identity, and then recording all the information of the digital identity through the account book maintained jointly, so as to achieve the verification effect. At present, vechain procts have been connected with more than 10 instry benchmark customers, and millions of IDS are running on the chain
4. Build a supply chain financial exchange in three steps
from the perspective of implementation path, the application of blockchain in the field of supply chain finance can be realized in three steps
as a prerequisite, we need to build a blockchain + supply chain finance alliance, whose participants include supply chain finance platform, core enterprises, professional financial intermediaries, financiers, factoring institutions, etc
each participant needs to undertake corresponding obligations. For example, the platform is responsible for providing basic services such as supply chain information and customer information, while the core enterprise understands the instry situation, has control over the enterprises in the supply chain, and is responsible for risk control
professional financial intermediaries can integrate and analyze the platform information, and provide customized supply chain financial procts, such as personalized blockchain electronic bills. The fund side includes banks, Internet financial institutions and other customers who are responsible for docking the corresponding risk preference
after the establishment of alliance chain, we can start the three-step strategy
the first step is to put the data in the supply chain alliance on the chain, use the characteristics of blockchain to make it tamperable, and provide services such as data authentication and traceability
the second step is asset digitization, which turns warehouse receipts, contracts, and blockchain bills that can represent financing needs into digital assets, which are unique, tamper proof, and non reprocible
the third step is the transaction of digital assets. The supply chain financial platform will be transformed into a financial asset exchange, which will transform the non-standard enterprise loan demand into standardized financial procts for token, docking investment and financing demand, and concting value trading
finally, blockchain technology will effectively enhance the liquidity of supply chain financial assets, mobilize new financing tools and risk control system, help cover the long tail market of SME financing, and promote supply chain finance as a service.
In short, blockchain is a distributed bank accounting system, a trust network without central institutions, and a distributed database. Because of its distributed storage, decentralization and other characteristics, it can effectively prevent tampering and repudiation, and has incomparable system stability compared with the traditional mode
based on the above characteristics, blockchain technology has been combined with the financial instry, and has been applied on a large scale, and has made remarkable achievements. In August 2016, we, together with onchain, jointly launched an open blockchain alliance "falian" based on Microsoft trusted cloud technology and open platform, and Microsoft comprehensive technology and open platform
based on the technical support of "French chain", we have reached a cooperation with Alibaba mailbox and launched the world's first e-mail deposit proct based on blockchain technology. With the growth of the Internet environment, the demand for e-Cert will also grow, and our "legal chain" will play a greater role
On March 7, it was reported that the blockchain infrastructure service provider Fengfeng Xinying signed a cooperation agreement with the point exchange sports service platform - Yifen sports. Fengfeng Xinying will record and trace the point exchange and payment on Yifen sports platform through the underlying technology of BFC blockchain. In addition, BFC points of storm new film can also be exchanged for its rich procts and services in the platform of one point sports, including offline sports venues, gym services, sporting goods, sports lottery, etc
Beijing Fengfeng Xinying Technology Co., Ltd. was established in November 2015. In 2017, Fengfeng Xinying began to develop the blockchain business market, launched the smart terminal device, broadcast cool cloud, and provided all node network services for the public chain system through hardware procts. At the same time, it develops blockchain application services for third-party enterprises through its own alliance blockchain system