Hangzhou June 16 blockchain conference 6

1. Omer ozden, Evgeny Kosolapov, Lee Wilkins, chase freo, Yang Dong, Yu Hong, Liu Hui, Shen Dahai, Xu Jizhe, Wu Bo, Song Wei and other guests

2. Hello,
WBC is the abbreviation of world blockchain conference, namely the first world blockchain conference
is a semiannual world blockchain instry event initiated and held by the world blockchain consortium,
place: Macao, China,
time: April 22-24, 2018, lasting for 3 days
this is the information I saw on the official website, I hope it can help you.

3. Lai Caiyun's man Xing Yun is also one of the partners of this blockchain conference. Through this conference, "chain 2020" hopes to link the world and the Asia Pacific blockchain community, promote the popularization of blockchain technology, and make more people aware of the huge prospects and functions of blockchain. It coincides with Ms Lai Caiyun's idea.

4. It can be found online by searching the blockchain instry conference. He is still very positive about blockchain technology. He thinks that the popularity of blockchain technology in China may have surpassed that of any other country, and the views of big names are really beneficial.

5. Hello, as far as I know
the theme of this conference is technology restructuring the world
the vision is to drive a happy world and link to a better future
as for the impact on the future, different people have different opinions.

6. For G20 mechanism, Hangzhou summit is the node of transformation from crisis response to long-term governance. The G20 summit mechanism initially emerged e to the urgent need to deal with the crisis, while the mission of achieving sustainable development in 2030 requires the G20 to transform to long-term governance. This year, the G20 has further improved its governance structure and established more ministerial meeting mechanisms to strengthen its long-term governance capability. In order to achieve global development, the G20 Hangzhou summit also invited ASEAN, African Union, new partnership for Africa's development and the group of 77 to participate in the meeting, which better reflects the theme of "inclusiveness"
at present, all countries are living in the community of human destiny of "you have me and I have you". No country can walk out of the economic crisis alone and achieve sustainable development. Only in "innovation, vitality, linkage and inclusiveness" can we achieve common prosperity.

7. There are six hierarchical structures in the blockchain, which are from bottom to top: data layer, network layer, consensus layer, incentive layer, contract layer and application layer
1. Data layer
the data layer is the lowest layer in the six hierarchies of the blockchain. We can understand the data layer as a database, but for the blockchain, this database is a tamperable and distributed database, which is what we call "distributed ledger"
in the data layer, that is, the "distributed ledger", the data information on the blockchain is stored, and the blockchain structure, asymmetric encryption technology, hash algorithm and other technical means of the block are encapsulated to ensure the security of the data in the case of the whole network being open. The specific method is:
in the blockchain network, nodes use consensus algorithm to maintain the consistency of data layer (that is, the distributed database), and use asymmetric encryption and hash algorithm in cryptography to ensure the non usurpation and traceability of the distributed database
This constitutes the bottom data structure of blockchain technology. However, it is not enough to have a distributed database. We also need to let the data information in the database be shared and exchanged. Next, we will introce the upper layer of the data layer - the network layer
Second, network layer
the network system of blockchain is essentially a P2P (point-to-point) network. Point to point means that there is no need for an intermediate link or centralized server to control the system. All resources and services in the network are distributed in the hands of each node, and the transmission of information is also a direct communication between the two nodes. However, it should be noted that P2P
(peer-to-peer) was not invented by Nakamoto, and the blockchain only integrates this technology
therefore, the network layer of blockchain is actually a particularly powerful point-to-point network system. In this system, each node can not only proce information, but also receive information, just like sending e-mail. You can write your own e-mail, and you can also receive the e-mail sent to you by others
in the blockchain network, nodes need to jointly maintain the blockchain system. Every time a node creates a new block, it needs to notify other nodes in the form of broadcast. After receiving the information, other nodes verify the block, and then create a new block on the basis of the block. In this way, the whole network can jointly maintain and update the general ledger of the blockchain system
however, what rules should the whole network follow to maintain and update the general ledger of the blockchain system? This involves the so-called "laws and regulations" (rules), which we will introce next: the consensus layer
Third, consensus layer
in the world of blockchain, consensus simply means that the whole network should maintain and update the general ledger of blockchain system according to a unified and agreed rule, which is similar to the rule of updating data. It is one of the core technologies of blockchain and the governance mechanism of blockchain community to let highly dispersed nodes reach consensus efficiently in the decentralized blockchain network
at present, the mainstream consensus mechanism algorithms include: proof of work of bitcoin (POW), proof of rights and interests of Ethereum (POS), proof of rights and interests of EOS (dpos), etc
we now introce the data layer, network layer and consensus layer. These three layers ensure that there are data, networks and rules for updating data on the network. However, there is no free lunch in the world. How can nodes actively participate in the maintenance of the blockchain system? Here is the incentive layer, which we will introce next: incentive layer< 4. Incentive layer
incentive layer is the so-called mining mechanism, which can be understood as incentive mechanism: you can get as much reward as you contribute to the blockchain system. With this incentive mechanism, the whole network nodes can be encouraged to participate in the data recording and maintenance on the blockchain
mining mechanism and consensus mechanism are actually the same truth. Consensus mechanism can be understood as the company's general rules and regulations, while mining mechanism can be understood as the reward rules for what you do well in the general rules and regulations
just like the consensus mechanism POW of bitcoin, it stipulates that more work pays more. Whoever can find the correct hash value first can get a certain amount of bitcoin reward
and Ethereum's POS stipulates that the older the holder is, the more likely he or she will be rewarded
it should be noted that the incentive layer is generally only available for the public chain, because the public chain must rely on the nodes of the whole network to jointly maintain data, so there must be a set of incentive mechanism to encourage the nodes of the whole network to participate in the construction and maintenance of the blockchain system, so as to ensure the security and reliability of the blockchain system
the blockchain is safe and reliable, and it is not intelligent enough, right? The contract layer we will introce next can make the blockchain system more intelligent
v. contract layer
Contract layer mainly includes various scripts, codes, algorithm mechanisms and smart contracts, which is the basis of block chain programming. What we call "smart contract" is at the contract level
if the bitcoin system is not intelligent enough, the "smart contract" proposed by Ethereum can meet many application scenarios. The principle of the contract layer is to embed the code into the blockchain system, in this way to realize the smart contract that can be customized. In this way, on the blockchain system, once the terms of the smart contract are triggered, the system can automatically execute commands< Finally, the application layer. The application layer is very simple. As the name suggests, it is a variety of application scenarios and cases of blockchain. What we now call "blockchain +" is the so-called application layer. At present, the blockchain applications that have been implemented are mainly various blockchain applications built on
eth, EOS and other public chains. There are more applications of gambling and games, and the real practical applications have not yet appeared.

8. What opportunities and challenges does the emergence and use of e-money bring to the monetary management of banks

in the era of economic globalization, with the development of information technology, great changes have taken place in people's proction and lifestyle, which also further promotes the development of monetary form. As a new form of money, e-money has become an indispensable part of today's economy with the advantages of convenience, quickness and accuracy. Its importance is graally strengthened. At the same time, the development of e-money has also brought many opportunities and challenges to the monetary management of banks<

opportunities:
1. Reced the deposit reserve and excess reserve of commercial banks
firstly, the central bank has not yet collected deposit reserve for e-money. The electronic currency issued by financial institutions performs the basic function of currency exchange medium and plays the role of replacing deposits and cash. However, it deviates from the financial system and does not pay the deposit reserve. Secondly, the central bank determines different ratios of deposit reserve ratio according to the liquidity of money. The stronger the liquidity is, the higher the deposit reserve ratio is. Due to the rapid conversion of e-money, it can be classified as current deposit or fixed deposit. In this way, it is possible for commercial banks to pay less deposit reserve, and ultimately rece the efficiency of legal deposit reserve ratio. Third, e to the short conversion time and low cost of e-money assets with different maturity structures, it is unnecessary for commercial banks to hold higher excess deposit reserve of the central bank, thus recing the source of deposit reserve of the central bank. On the other hand, the convenient and quick payment and settlement means of e-money rece the economic transaction cost, and the interest income in the form of current deposit or even time deposit is the opportunity cost of cash assets

2. The widespread use of e-money has greatly reced the operating costs of banks, accelerated the circulation speed of money, and improved the service efficiency of banks.
for banks, usually a large amount of money is needed for counting, bookkeeping, storage, transportation and security, but the rapid development of e-money can greatly simplify these work, And save the high cost of handling coins and notes. With the help of computer information technology, electronic money can play the role of transaction, circulation and payment with the help of electronic information flow, which will inevitably rece the transaction cost and improve the circulation and transaction speed of money market and commodity market

3. It is convenient for transfer and transfer between different branches within the bank< The transformation of the national economic development mode will focus on stimulating domestic demand, and the development of bank credit card instry is facing a golden opportunity< In addition to the original banking business, commercial banks have also launched new businesses, such as handling deposits and withdrawals outside the counter, opening personal financial accounts such as consumption accounts, investment accounts, foreign exchange trading accounts, etc., to handle personal consumption credit, ecation investment credit, portfolio tools, etc, Actively contact with large shopping malls, supermarkets and other units that use electronic money frequently, set up POS machines in the above units, connect banks, units, governments and indivials, and form a huge service network with commercial banks as the core
6. The change of the marketing mode of entering the bank
the emergence of e-money has an important impact on the total circulation scale of e-money among commercial banks, other financial enterprises and non-financial enterprises, so that the functions of commercial banks will undergo a major transformation, and there will be fierce competition among commercial banks for the market share of online e-money payment and settlement, Promote the bank to establish the main customer-oriented marketing, and strive to occupy more customers<

challenge:
1. China's annual consumption of e-money has increased significantly since 2003, and the income brought by e-money consumption to its issuers has also increased significantly. If commercial banks do not strive for more e-money issuing qualifications or stay at the current e-money business service level, they will lose their share of e-money business income

2. If commercial banks issue e-money, when users purchase e-money initially, the traditional money deposits of users decrease, the e-money deposits increase, and the traditional money deposits of society also decrease. If the central bank does not draw the deposit reserve for e-money deposits of commercial banks, the total amount of e-money deposits will continue to increase with the use of e-money for payment; Correspondingly, the deposit creation process of traditional money will stop, so the total amount of traditional money deposits of commercial banks will decrease, and then the deposit reserve will decrease.