China Merchants Bank applied blockchain
As a traditional financial institution, banks are the most active Pathfinder in the field of blockchain. In recent years, many banks at home and abroad have applied blockchain technology to credit, clearing and other fields. The unique trust mechanism of blockchain is regarded by banks as a key technological breakthrough in innovating risk management and simplifying transaction process. However, as an emerging technology, blockchain ecology is still in the process of establishment, and its application is very limited. Many problems still need to be solved graally in the development
"at present, blockchain can't run high-frequency and concurrent transactions, and network speed and computing power can't support it. For example, in the field of payment, if it is online shopping, it can be realized; If it's high-frequency futures trading, it can't be done. " Huang Zhen said
JIANG Peng said that at the beginning of designing the blockchain system, China CITIC Bank carefully demonstrated the business links suitable for the use of blockchain
"from the global experience, it is not suitable to use blockchain to build a large and complex system. Instead of trying to solve all problems with blockchain, we should focus on solving the core problems. It's time-consuming to build a too complex system. The technology is developing so fast that before the old system is finished, it will face the iteration of new technology. " Jiang Peng said
the idea of "only solving core problems" ensures that after the blockchain goes online, the relevant business operations of branches of China CITIC Bank can be upgraded without process transformation
Fan Bin said frankly that it will take time for banks to fully apply the blockchain, and IBM's investment in the blockchain open source community will continue, on the one hand to cultivate the market, on the other hand to compete for the commanding height of the blockchain platform. With the rapid iteration of blockchain technology itself, there is still a lot of imagination for financial institutions to use this new technologythe content comes from Xinhuanet
financial field
blockchain has great potential application value in international exchange, letter of credit, equity registration, stock exchange and other financial fields. The application of blockchain technology in the financial instry can save the third-party intermediary link and realize the point-to-point direct docking, so as to greatly rece the cost and quickly complete the transaction payment
in the field of Internet of things and logistics, blockchain can also be naturally combined in the field of Internet of things and logistics. Through blockchain, we can rece logistics costs, trace the proction and delivery process of goods, and improve the efficiency of supply chain management. This field is considered as a promising application direction of blockchain
in the field of public service
blockchain is closely related to people's proction and life in the fields of public management, energy, transportation, etc., but the centralization of these fields also brings some problems, which can be transformed by blockchain. The decentralized and fully distributed DNS service provided by the blockchain can realize domain name query and resolution through the point-to-point data transmission service between nodes in the network. It can be used to ensure that the operating system and firmware of an important infrastructure have not been tampered with. It can monitor the status and integrity of the software and detect bad tampering, And ensure that the data transmitted by the system using the Internet of things technology has not been tampered with
in the field of digital right
through blockchain technology, works can be authenticated to prove the existence of text, video, audio and other works and ensure the authenticity and uniqueness of ownership. After the works are confirmed on the blockchain, the subsequent transactions will be recorded in real time to realize the full life cycle management of digital rights, and can also be used as a technical guarantee in judicial evidence collection
in the field of insurance
in terms of insurance claims, insurance institutions are responsible for fund collection, investment and claims settlement, and often have higher management and operation costs. Through the application of smart contract, there is no need for the applicant to apply or the insurance company to approve. As long as the claim conditions are triggered, the automatic claim settlement of the policy can be realized
public welfare
the data stored on the blockchain is highly reliable and tamperable, which is naturally suitable for social public welfare scenarios. The relevant information in the public welfare process, such as donation project, collection details, fund flow, recipient feedback, etc., can be stored on the blockchain, and can be made transparent and public, which is convenient for social supervision
for example, AUR, Golem, vechain, omisego, which provides asset exchange and transfer services, is a prediction platform based on blockchain. Using blockchain technology, these projects can better solve the problems of trust and cross-border circulation. At the same time, using smart contracts and tokens on the blockchain, they can better realize automatic execution and greatly improve the efficiency of social and economic activities
Application blockchain projects cover a wide range of fields, including finance, social networking, games, property rights protection and so on. It is also the field where the market value of blockchain projects is growing fastest at present.
in early March, China Merchants Bank, the Bank of England, Boston Federal Reserve and other 11 organizations joined the "super ledger", which means that the application of CMB's blockchain technology has entered the acceleration mode
the so-called hyper ledger is an open source cooperation project launched by the Linux foundation in December 2015, aiming to promote the development of the most cutting-edge technologies in the blockchain. Its goal is to promote members' cooperation, jointly build and develop the basic platform of the blockchain, and create open standards for distributed ledger, so as to support a variety of business application scenarios, Realize the value exchange between virtual and digital forms.
1. Enterprise e-banking and unit deposit business
2. Credit business
3, institutional business
4, international business
5. Entrusted housing financial fund clearing, intermediary business, asset promotion, fund custody, etc
The most basic internal departments of banks are savings (for private), accounting (for public) and credit. Accounting can be said to be the back office and Service Department of credit. Credit is the deposit and loan business of units, a bit like the Sales Department of general companies, and all business transactions between these units and banks are realized through the accounting departmentspecifically, the corporate business is to carry out various kinds of checks, exchange, loans and other business around the public deposit account with the corporate legal person, unit and other customers as the main body
extended information:
the head office of China Merchants Bank is located in Futian District, Shenzhen city. On April 9, 2002, a shares of China Merchants Bank were listed on Shanghai Stock Exchange. On September 8, 2006, China Merchants Bank began to issue about 2.2 billion H shares in Hong Kong, raising HK $20 billion. It was listed on the Hong Kong Stock Exchange on September 22. Net capital exceeded 290 billion yuan and total assets exceeded 4.4 trillion yuan
as of the first half of 2017, more than 1800 branches of China Merchants Bank and more than 130 cities in Chinese mainland city have set up service outlets, including 5 overseas branches and 3 overseas representative offices, with 7 employees. In addition, China Merchants Bank also wholly owns China Merchants Bank Financial Leasing Co., Ltd., holds China Merchants Fund Management Co., Ltd., holds 50% equity of China Merchants SINOSURE Life Insurance Co., Ltd., and 50% equity of Zhaolian Consumer Finance Co., Ltd; In Hong Kong, it wholly controls Wing Lung Bank Limited and CMB International Financial Holdings Limited
The development goal of China Merchants Bank is to become a leading retail bank in China. In July 1995, the bank card all-in-one card was launched, and in September 1999, China's first online banking all in one Netcom was launched. It has become a widely used online payment tool for many enterprises and e-commerce websites, which has promoted the development of China's e-commerce to a certain extenton April 2, 2015, China Merchants Group Co., Ltd. planned major events. In order to ensure fair information disclosure, safeguard the interests of investors and avoid causing abnormal fluctuations in the company's share price, the company's shares were suspended since the opening of the market on April 3, 2015[ 14] In August 2016, China Merchants Bank in & quot; Top 500 Chinese enterprises in 2016; Ranked 39th in China