The impact of blockchain is mainly reflected in

1.

Recently, many friends have come to ask questions about blockchain, such as the specific advantages of blockchain, why to invest in blockchain, and what benefits can it bring? Can't you invest in real estate and wait for the appreciation; Can't you invest in a mature market like stocks and bonds? Why invest in the emerging blockchain? Does blockchain have any investment value? And so on a series of questions, I have made the following summary, basically summarized the answers to most of the related questions:

< p class = "ikqb_ image_ Blockchain is regarded as an important part of the fourth instrial revolution. We all know that every instrial revolution will bring leaping progress of human proctivity. The history of human development is actually a history of proctivity progress.

it can be summarized in the following four aspects:

1. Blockchain has a good market prospect; 2; As an emerging technology, blockchain is recognized by many professionals including investors. It is estimated that the market value of blockchain will be about US $60 billion in 2020 and US $20 million in the global market in 2024. The considerable market prospect of blockchain is obvious

2. The cost of block chain is less; Compared with the centralized mode of relying on third-party intermediaries such as credit card payment and stock trading, the decentralized distributed structure of blockchain saves investors high handling fees and transaction costs, saves investment costs and improves transaction processing efficiency

3. Block chain is more secure and stable; The traditional centralized mode often faces serious credit crisis, but because each transaction in the blockchain is tracked and permanently recorded by the distributed public account book, the phenomenon of forgery is greatly reced, and the losses caused by the credit problems of the third party are avoided, providing security for investors' transactions

4. The programming attribute of block chain is more standard; Traditional market investors often affect their earnings because of the confusion of market levels, and the programmability of blockchain makes the market level clear, which is an innovative technology that can change people's lives

I hope it can help you to solve related problems. Please feel free to ask or discuss more details or any questions

2.

On August 6, 2018, Mr. Cai Yi, financial instry consultant of Huawei Company and founder and CEO of Huaxuan technology, was in daga | blockchain & amp; AI (core group) made a special topic sharing, the theme is: the current situation and Prospect of blockchain finance. The following text is arranged according to the speech of the lecture and has been reviewed by the author

Cai Yi: Consultant of financial instry of Huawei, founder and CEO of Huaxuan science and technology, founder of shared reading association, member of China Writers Association, engaged in financial science and technology research for more than ten years, and is a senior expert in digital transformation of banks

good evening, everyone. I'm very glad and honored to share some thoughts with you here

let's make a simple self introction: my name is Cai Yi. I worked as a writer in my youth. I wrote some books, magazines and novels in the 1990s. At that time, there was no Internet. After work, I have been engaged in the information work of financial instry, from financial channels to data centers, from outlets to technology, witnessed the development of financial technology, and also found some problems. After 2014, I worked as an investment partner and in recent years as a financial instry consultant in Huawei. From the cognitive level, I worked as a consultant for the talent development of digital transformation in the financial instry

in 2015, I started Huaxuan technology and sharing reading club. At present, we mainly focus on the cognition of blockchain and the implementation of financial technology solutions. At the cognitive level, interactive sharing and knowledge management are carried out in the way of book club. At the technical level, the process and scene of the financial instry are reshaped by combining blockchain, big data and AI technologies. I am interested in blockchain and often study and discuss with some friends. Of course, some views are still superficial. I hope you can exchange more criticisms and corrections

the elite think tanks in the United States once believed that the core of maintaining global leadership is science and technology, which must rely on economy, and the core of economy is finance. So what is the future of finance

today's topic is: the current situation and Prospect of blockchain finance. I would like to introce it mainly from three aspects:

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briefly introce finance and financial system

the current situation of blockchain finance

prospect of blockchain finance

First of all, let's talk about the concept of finance. The word "finance" originated from Japan after the Meiji Restoration (1868), which is somewhat related to the gold standard established by Japan in 1897. At the beginning of the 20th century, it was introced into China from Japan. It was first proposed by Finance Minister Liang Qichao in 1902. At that time, Zhang Zhidong raised his objection. Therefore, after the Sino Japanese War of 1894, China remained in the silver standard, but it also made China avoid the Great Depression of 1929

The original meaning of finance is "money accommodation", which refers to the circulation of funds in the society. Later, its meaning has been expanded to indicate transactions and economic activities related to money and credit. In fact, there is another reason: gold used to be the only medium in international trade, and its value and wealth were based on gold. Therefore, when making standard gold bars, people need to melt gold into shape, which may be the original meaning of the word "finance", that is, to melt metal

Finance is the general name of currency circulation and credit activities and the economic activities associated with them.

let's look at the definition of Finance later: finance is the general name of currency circulation and credit activities and the economic activities associated with them. In a broad sense, finance generally refers to all the economic activities related to the issuance, custody, exchange, settlement and financing of credit currency, Even including the trading of gold and silver, the narrow sense of Finance specifically refers to the credit currency financing

In short, the contents of finance can be summarized as the issuance and withdrawal of money, the absorption and payment of deposits, the issuance and recovery of loans, the trading of gold, silver and foreign exchange, the issuance and transfer of securities, insurance, trust, domestic and international currency settlement, etc. To put it more bluntly, finance has two-way feedback. The institutions engaged in financial activities mainly include banking, insurance, securities, trust, financial leasing, etc. We all know this better and have frequent contact with it. Therefore, to understand the meaning and institutions of finance, we also need to understand China's financial system

2 China's financial system the development of China's financial system can be roughly divided into five stages:

initial formation stage, the first five years (1948-1953): the establishment of the people's Bank of China (1948). At this time, the PBC is far from what we want now. But it marks the beginning of new China's financial institution system

In the second five years (1953-1978), the people's Bank of China (PBC) is the only financial institution in China that deals with all kinds of banking business, integrating the central bank and ordinary banks. In fact, reunification means that we the model of foreign countries. I will not talk about specific countries

In the third five years (1979-1983), the Bank of China (established in 1912), the Agricultural Bank of China (established in 1951) and the Construction Bank of China (established in 1954) were restored or established one after another, but the people's Bank of China still integrates currency issuance and credit. We can see that after the reform and opening up, China's financial instry has developed very fast

the diversified financial institution system has begun to take shape. Ten years (from September 1983 to 1993): it has formed a financial institution system with the people's Bank of China as the core, the four major professional banks of instry, agriculture, China and construction as the main body, and other financial institutions coexisting and cooperating. After 1987, there were Bank of communications, China Merchants Bank, Shenzhen Development Bank, CITIC and Hengfeng. In 1988, Ping'an, Guangfa and Xingye appeared. Everbright, Huaxia and Shanghai Pudong Development Co., Ltd. appeared in 1992, and the Securities Regulatory Commission was set up in the same year

the stage of building and improving the social * * market financial institution system (since 1994): it has formed a relatively complete financial institution system with "one bank, three meetings" as the leading role, large, medium and small commercial banks as the main body, and a variety of non bank financial institutions as the auxiliary wing. In 1994, three major policy banks (China Development Bank, Export Import Bank of China and Agricultural Development Bank of China) were established. In 1995, Minsheng Bank, the first private commercial bank, was established (which is of great significance). In 1998, urban commercial banks emerged and CIRC was established. In fact, the CBRC appeared relatively late, and it was only established in 2003. Since then, the pattern of "one party, three meetings" has been formed. However, not long ago, the China Banking Regulatory Commission and the China Insurance Regulatory Commission merged into the China Banking and Insurance Regulatory Commission. You can pay attention to this

from the perspective of evolution, the normative research of finance is often linear

that is, we often take a certain evolution form as the standard (usually developed market economy system, such as the Soviet Union, Germany, the United States and even Japan), describe the progress path of the financial system from non marketization to marketization, from inefficient allocation of financial resources to efficient allocation, and focus on explaining the gap of the standard form and the reasons

In fact, we can find from the development process of China's financial system just now: since 1978, China's financial system has evolved in the direction of marketization, standardization, diversification and internationalization, All kinds of financial institutions show a "network" and "strong connection" business form, that is, the connection degree between banks, banks and other financial institutions, as well as financial sub markets has increased significantly, and the credit connection is increasingly close, mixed and complicated

the ecological environment of financial instry has also undergone some obvious changes. On the one hand, traditional formal financial institutions seek to speed up transformation and innovation, and strive to seize the opportunity in business strategy, market positioning, management structure, format and proct innovation. On the other hand, a large number of emerging financial institutions have emerged

financial format also presents new characteristics such as real estate financialization, non bank institutions "banking" and asset securitization

The above changes are beyond the imagination of the instry, regulators and policy makers, and will bring a series of impacts:

on the positive side, the scale and composition of the financial system have been expanded, the business expansion and financial service capacity of financial institutions have been improved, the financial market has been developed, and innovative payment has developed rapidly. That's what we're going to talk about in financial technology

in a common saying, when the forest is big, there are all kinds of birds. The negative aspects are mainly reflected in the following aspects: the interaction between the

financial system and the real economy tends to be complex, and the role of the financial system in promoting and amplifying asset bubbles is underestimated. p>

the reticulation and strong correlation of the financial system widen the gap between the financial instry and financial supervision, and weaken the effectiveness of traditional supervision. China's current financial supervision system has only been in operation for more than ten years

the transmission path and mechanism of monetary policy through the financial system have changed (the transmission chain of monetary policy has been lengthened or deformed, the conctivity and effectiveness have declined), and the initiative and effectiveness of regulation are facing new constraints. Since its establishment in 1996, the current monetary policy framework has been constantly improved in response to the development of economy and financial market, but the complexity of the financial system in recent years has put it to a new test. Broad money M2 is also impacted by financial deepening, electronic payment and other factors, and further weakened by the shadow banking system

all kinds of cross market, cross business and cross-border behaviors to evade supervision make a variety of risk factors intertwined, such as: capital pool operation with serious mismatch of maturity and procts hides large liquidity risk, proct nesting leads to risk transmission, insufficient shadow banking supervision, local debt, real estate, external shocks, etc., all of which bring great challenges to the stability of the financial system

without comparison, there is no harm, and China's financial system as a whole is relatively backward. This kind of backwardness is mainly reflected in the backwardness of bank innovation: the people's Bank of China announced in October 2015 to abolish the "interest margin protection", while the interest rate of the United States had been completely marketized as early as April 1986, and China was nearly 30 years late

3 the institutional framework and basic problems of China's financial system

Second, the * * third party acts as a credit intermediary to guarantee the realization of asset transfer transactions

the third is the transaction settlement and clearing completed by the centralized clearing organization

Based on this, there are also four problems:

1) credit system and trust mechanism. Traditional finance must have strict transaction records to accumulate credit. Without transaction records, it is difficult to achieve financing or loans, because there is no technical means to ensure the safety of transactions between the two sides

(2) transaction settlement takes a long time. The time of traditional financial transactions has been speeding up, but the settlement time is still relatively long, especially for cross-border transactions, which often can not arrive immediately

(3) the cost of intermediary service is high. The traditional financial transaction system is very important

3. The subversive characteristics of blockchain lie in the following four aspects: first, transparency. The data record of the blockchain system is transparent to the nodes of the whole network, and the update operation of the data record is also transparent to the nodes of the whole network, which is the basis of the trustworthiness of the blockchain system. Because the blockchain system uses open source programs, open rules and high participation, the data records and operation rules of the blockchain can be reviewed and traced by the nodes of the whole network, with high transparency< Second, openness. The blockchain system is open. In addition to the fact that the private information of the parties directly related to the data is always encrypted, the data of the blockchain is open to all (except the blockchain system with special permission requirements). Anyone or participating nodes can query blockchain data records or develop related applications through the open interface, so the information of the whole system is highly transparent< Third, information can not be tampered with. Once the information of the blockchain system is verified and added to the blockchain, it will be permanently stored and cannot be changed (except for private blockchain systems with special change requirements). Unless more than 51% of the nodes in the system can be controlled at the same time, the modification of the database on a single node is invalid, so the data stability and reliability of the blockchain are extremely high
Fourth, decentralization. Decentralization is the most basic feature of the blockchain, which means that the blockchain no longer depends on the central processing node and realizes the distributed recording, storage and updating of data. In the traditional centralized network, attacking a central node can destroy the whole system, while in a decentralized blockchain network, attacking a single node cannot control or destroy the whole network. More than 5% of the nodes in the master network are just the beginning of gaining control. 2019 is the first year for the commercial application of blockchain technology, and the stimulation of favorable policies will make the development of blockchain technology more stable
with the application of blockchain technology graally penetrating into many fields such as digital finance and Internet, we have a clearer understanding of the value of blockchain
blockchain has formed a situation of global competition, and all countries are seizing the development opportunities, let alone China; Therefore, there is no doubt that blockchain has become a national strategy.

4. 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< Second, openness:
the foundation of blockchain technology is open source. In addition to the private information of all parties to the transaction is encrypted, the data of blockchain is open to all. Anyone can query blockchain data and develop related applications through the open interface, so the information of the whole system is highly transparent< Third, 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< Fourth, security:
as long as 51% of all data nodes cannot be controlled, the network data cannot be arbitrarily controlled 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 information transmission can be carried out anonymously
Digital China is the first major development strategy explicitly put forward in the report of the 19th National Congress of the Communist Party of China. The application of digital technology represented by cloud computing, big data and mobile Internet is no longer limited to the economic field, but widely penetrated into all aspects of public services, social development and people's life, which requires macro coordination, overall control and integrated development
with the deepening of a new round of scientific and technological revolution and instrial change, the tide of digital economy in the world is unstoppable. The development of digital economy has become a global consensus, known as the key to the fourth instrial revolution
adhering to the connotation of the University of nice's world inclusive humanistic spirit, always embracing change, standing up to the tide, conforming to the development trend of the digital economy era, and integrating the essence of Chinese and Western cultural thinking, the University of nice's doctor of blockchain and digital economy management (DDE) came into being
based on this, we can enable the managers of digital economy instry to have global vision and global integration thinking, integrate knowledge, operate digital economy intelligently, promote the sustainable development of the instry, and contribute to the community of human destiny. Therefore, DDE project will cooperate with colleagues in the field of digital economy
if you have MBA related questions, you are welcome to contact me personally&# 180;&# 65381;&# 7447;&# 65381;` ) Bixin~~~~

5.

According to reports, blockchain has the advantages of decentralization, distrust and tamper proof

compared with the Internet, the blockchain network conceived by Cosmos not only realizes information interaction, but also realizes the transmission of asset value. Through the IBC cross chain protocol, the token can be transferred across the chain between the blockchains based on Cosmos' tendermint core. For the public chains based on POW consensus mechanism like Ethereum, pegged zone can be used to bridge

Article source: bit110 network

6. Most of the digital currency trading platforms give priority to the development of PC version, and most of them support PC client. At present, most of the digital currency trading platforms are like this. When the platform develops to a certain extent, the company's popularity and recognition are very high, and the capital is strong, the development will be considered

at present, okcoin is the platform that I know has developed mobile app. Fuyuan currency trading platform, bitcoin era and bitcoin China all support PC version.

7.

The sudden epidemic situation has pressed the "pause" button for many instries, but science and technology is the most effective means to fight against disasters. Blockchain technology has realized the combination with finance, logistics, supply chain, government affairs, public welfare, urban management and other application fields. At the same time, e to the imperfect development of technology, the role of blockchain in the prevention and control of the epidemic is very limited, so we need to explore deeper scenario applications

from the survey data, the main application directions of instrial blockchain in the post epidemic period include: traceability, financial (including insurance) supervision, collaborative sharing. Deposit certificate, digitization, credit investigation, digital asset transaction, etc

in the main application direction of instrial blockchain in the post epidemic period, more than 70% of enterprises choose traceability and financial (including insurance) supervision, in addition to collaborative sharing and certificate deposit. Digital also has more than 60% of the enterprise choice, compared with the low choice rate of credit reference and digital asset transaction, in which the choice rate of digital asset transaction is less than 50%, only 48%

to avoid risks and promote the healthy development of instrial blockchain

as an emerging technology development direction and instrial development field, blockchain has been widely concerned. The application of instrial blockchain is accelerating, which is mainly reflected in two aspects:

first, in the past, open source systems were represented in technology, and most of them were open source projects oriented to consumers, but now many projects oriented to instry and enterprise characteristics have been added; At the same time, more and more enterprises such as Internet giants and high-tech enterprises begin to enter this field, indicating that the era of instrial blockchain has come

secondly, the emergence of blockchain reces the threshold of trust and the cost of realization, enabling some financial and trade scenarios that could not be realized before to be realized. In this way, some new financial forms can be derived, providing more space for financial innovation

although the application of instrial blockchain is speeding up, it is still in an early stage of development. This is mainly reflected in the fact that blockchain technology alone can not fully solve the trust problems and information island problems between entities, and the emergence of blockchain technology also puts forward new problems for the current law and regulation

because of its decentralized and difficult to tamper with characteristics, blockchain has become a comprehensive subject driven by technology and deeply affecting economy, finance, society, organizational form and governance. In addition, blockchain technology is not yet fully mature in system stability, application security, business model and other aspects, which puts forward requirements for privacy protection and storage capacity of data on the chain

it should be noted that the current blockchain instry has been involved in many technical fields such as it, communication, security, cryptography and so on. What it needs is a kind of compound talents, which poses new challenges to personnel training and school ecation

the short-term impact of blockchain should be treated calmly to avoid overestimation. At the same time, it is necessary to further strengthen laws and regulations and supervision to avoid the possible risks of blockchain technology, so as to promote the healthy development of instrial blockchain

- for more data sources and analysis, please refer to the analysis report on China's blockchain instry market outlook and investment strategic planning of foresight Instry Research Institute