Blockchain Securitization
secondly, blockchain is a relatively safe system. bitcoin is such a familiar blockchain application, and it is also the most successful blockchain application so far. So far, bitcoin has been running stably for 6-7 years. This system almost breaks everyone's idea of building a traditional financial system. First of all, it has no security facilities. Anyone who takes a machine into the network can join the network and work. In the whole bitcoin network, more than 80% of the machines are bare metal, They have neither good security protection nor any firewall measures; Secondly, because of the design of bitcoin, some of its data can track the history, prevent tampering and be irreversible
finally, it is an obvious feature of blockchain. It is a very open system. At present, there are many open source underlying implementations for your reference or use, and it is very scalable. It has been committed to establishing a multi center instry alliance or business alliance
Introction to Bubi blockchain
since its establishment, Bubi blockchain has been focusing on the R & D and innovation of blockchain technology and procts, has a number of core technologies, and has made substantial innovation in many aspects, forming a number of core technology achievements, such as: mathematically verifiable distributed consensus technology, fast large-scale ledger access technology, and so on Multi Chain general ledger technology supporting business form expansion, interconnection technology between heterogeneous blockchains, etc. On April 25, "gege integral" introced the integral system into the concept of blockchain, opened up by multiple parties, issued and exchanged integral, and promoted the circulation of integral. All cooperative institutions can jointly participate in transaction verification, account book storage and real-time settlement; The third-party payment platform of the enterprise points issuer makes the points in and out more flexible. Bubi has developed its own basic blockchain service platform, which has been applied in equity, supply chain, credit and other fields. Bubi has been committed to building an open value circulation network with the core of decentralized (polycentric) trust, so that digital assets can flow freely
there are two extremes in the development trend of blockchain. Some people advocate private chain, while others advocate public chain. In fact, more than 90% of the mainstream applications in Europe and the United States are instry chain or alliance chain, that is, the upstream and downstream of an instry, or the semi open blockchain built by core enterprises, such as R3, LINQ of NASDAQ supported by chain, and some instry applications made by Dah to Australian stock exchange or Morgan
in fact, in the process of development and use of blockchain, it is around the following three important links: consensus, balance of book efficiency and scalability. Some geeks, such as bitcoin or Ethereum, are completely public. There are also some private chains used for efficiency transformation or connection between subsidiaries within enterprises. Most of them are upstream and downstream of instry alliances. They gather together for heating or jointly expand the business scale, which is the mainstream instry chain at present
blockchain naturally has two kinds of attributes: voucher and transaction. The attribute of voucher makes it the entrance of asset securitization and asset number, and the attribute of transaction enhances the free circulation of assets. Therefore, blockchain may become the infrastructure to build a free circulation network of value in the future
the field of blockchain? Blockchain applications? Referring to the development history of the Internet, the value free circulation network constructed by the blockchain is also an independent partial value circulation network (instry chain, alliance chain) formed by various instries according to their own needs in the early stage. In the later stage, driven by the demand for cross instry asset exchange, the instry chain is connected in series by some ways of interconnection, The formation of a de facto free circulation network of common value (public chain).
in the first stage, blockchain is still a kind of network infrastructure construction. Enterprises providing high-quality technical services can charge technical service fees, and can also use this technology in some anti-counterfeiting systems such as Maotai liquor and luxury goods
in the second stage, the application segment will be implemented. At present, many scenarios such as storage, game operation, user payment, currency issuance and investment fund can also be realized through blockchain. However, this part of the profit belongs to the application publisher, just as an online game manufacturer uses C + + to write a game. C + + is blockchain technology, but it is the manufacturer who makes money, However, in the short term, large-scale application is still difficult
in the third stage, monetization, securitization and life-oriented are fairly recognized. Considering that the essence of currency issuing right is monopolized by the state violent machine, the property owner of seigniorage must belong to the government department, and the blockchain of currency and securities must go through a process of public power to understand, accept and allow. But it the first mock exam that this technology will also have far-reaching impact on the digitalization of money, and the profit margin under this mode is limitless.
it is understood that there are many places where blockchain technology is currently used, but it often gives people a very distant feeling because it is relatively unfamiliar. Blockchain technology has the characteristics of decentralization, traceability, non tampering, transparency, anonymity and so on. In addition to those projects that give people a high sense, there are many applications in our daily life, which are around us, Cryptofinance will tell you about the application of blockchain technology around us
I. blockchain + finance
if blockchain application, finance is the first to bear the brunt
in the second half of 2018, Xiaomi financial technology and Jinshan cloud jointly launched the Financial Alliance chain, which uses blockchain technology to accelerate information flow, rece financing costs for the asset side and improve asset management efficiency
in June 2018, Jingdong finance, Huatai Securities Asset Management and Instrial Bank established the asset securitization alliance chain, and applied the blockchain technology to the Jingdong Baitiao ABS Project, aiming to realize the data fidelity, tamper proof and intelligent management of special plans at the basic asset level by using the blockchain technology
IV. blockchain + commodity traceability
Wal Mart requires its suppliers to use blockchain to track the source of goods before January 31, 2019
ant blockchain Technology participated in the double 11 for the first time to trace the source of overseas commodities
There are manyblockchain landing applications. I believe that blockchain technology will bring us more convenience in the future
On August 16, 2018, Shen rujun, executive director and vice president of Bank of communications, gave a briefing at the regular press conference of the banking instry“ As of July 26 this year, BOCOM has opened 20 domestic certificates of blockchain, with a total amount of 156 million yuan. "
It is understood that for a long time, domestic L / C transactions have to go through a number of banks and express service providers, such as the issuing bank, the advising bank, the paying bank and the negotiating bank. Each institution completes the records in its own accounting system. The information between institutions is isolated and opaque. There are many problems in document processing, such as difficulty in authenticity verification, low efficiency, easy delay, easy loss and so onin April 2018, BOCOM blockchain domestic L / C project was put into operation. As of July 26 this year, BOCOM has opened 20 domestic certificates of blockchain, with a total amount of 156 million yuan
SHEN rujun said that bocom continued to pay attention to blockchain technology, and analyzed and judged that the domestic L / C, bill and supply chain financial business will bear the brunt, becoming a breakthrough in the application of blockchain technology in the field of banking finance
in addition to L / C, the instry's first blockchain asset securitization platform "jucaichain" was officially launched in bocom on June 27. The basic asset information of the first housing mortgage loan securitization financing proct is linked by bocom, which realizes the credit penetration of the securitization financing business system
1. Most people don't know what a blockchain is
compared with traditional stocks, real estate, bonds, gold, etc., blockchain assets are a very abstract and virtual form of assets. Blockchain assets represented by bitcoin are a very specialized computer language and program running mode, There is no credit endorsement from any country behind it, nor does any enterprise give it securitization income, which completely depends on the mutual consensus trust between strangers. In this case, although the operation logic of decentralization has been completed, its experiment is only in the initial stage and development stage, and participating in relevant investment is actually a kind of brave adventurer behavior
2. The price of blockchain assets fluctuates violently
because there is not much support from the use level of entities, many blockchain projects are completely dependent on community operation and market speculation, so it is difficult for investors to hold blockchain assets from the perspective of value investment, which leads to frequent capital flow, and the situation of price fluctuations has become a normal. A blockchain related token can soar by 500% in a day, or fall by 90% in a few hours. This kind of drastic price fluctuation is not affordable to ordinary investors
3. The uncertainty of national policies is too great
as an underlying technology, blockchain has basically accepted its value all over the world. However, as the "companion proct" of blockchain, there are still great disputes on national policies, and with the continuous increase of digital currency trading volume, the impact on the global financial market is also increasing. At present, the daily trading volume of the whole digital currency field exceeds US $60 billion, which is comparable to the trading volume of China's Shanghai and Shenzhen stock exchanges, or the average daily trading volume of the New York Stock Exchange. It is impossible to continue to operate outside the supervision. There is a very large regulatory game cycle, and the policies of various countries in this regard may be introced one after another, The impact on the market cannot be ignored
4. All kinds of blockchain projects are good and bad
blockchain technology is originally a very basic architecture technology. At present, e to the global pursuit of funds, many project parties who have nothing to do with blockchain begin to use the concept of blockchain to design procts, And can complete the writing of the white paper of blockchain in a very short time, and then raise market funds. In this case, the technical threshold of the whole blockchain has been lowered. Many companies without the strength and willingness of blockchain development have developed the concept of blockchain purely to obtain financial support, resulting in the flooding of projects. The gap between projects is widening, but ordinary investors are difficult to identify and easy to fall into the trap
5. Currency speculation is not equal to blockchain investment
at present, there are many views that blockchain and digital currency are a whole. You can't develop blockchain technology while suppressing digital currency. I agree with this logic, but currency speculation is not the same as blockchain investment in the real sense. The thing with real investment value must be the thing with scarce supply. If any digital currency is issued, it can represent the application value of the blockchain and bring some innovation to the society. Then any blockchain technology team that can issue digital currency can issue dozens of digital currencies and change its name in a very short time. Therefore, digital currency itself has little logical relationship with blockchain assets. Blockchain projects must be a market with obvious scarcity, but digital currency does not have great scarcity. This is like saying that any Internet company can develop a chat software similar to wechat, but the chat software itself does not have much value. The real value lies in how many people participate in the chat software. Digital money is just a chat software. The current situation is that everyone is frying the software, and few people are concerned about what is on the software. p>
6. Short term overheating, easy to be used by lawless elements
the particularity of the blockchain instry is that many of the ecology has become very financial, in the whole process of operation, capital will be very concentrated, and most of the links are related to capital. From raising funds by ICO to sending tokens to investors, to online trading of exchanges, and trading of tokens by users in exchanges, the whole process is almost full of financialization. If the practitioners are not professional enough, have no self-discipline ability, and lack of supervision, then every link may be used by criminals to manipulate the market, Obtain all kinds of illegal income
In order to catch up with the next round of financial technology and digital revolution, Japan holds a very open attitude towards bitcoin and other transactions. Digital currency transactions denominated in Japanese yen occupy half of the whole legal currency trading area in the world, Japan hopes to use digital currency to revive its financial competitiveness. The United States hopes to use mainstream financial markets, such as futures and options derivatives market, to tame bitcoin and make it another powerful tool for us dollar hegemony. And China is also trying to promote sovereign cryptocurrency, one of the important purposes is to promote the internationalization of RMB. The field of digital currency and blockchain assets is likely to become the next big country's game and contention point, which will virtually increase the systematic risk to investors. It's hard to know what unexpected policies appear behind this big country's game and what impact they will bring to the whole market8. The threat of quantum computer
blockchain generates a set of self-motivated system to ensure that it can run on its own under decentralized conditions. Most of them use asymmetric encryption, and use the corresponding public key to verify the transactions signed by the private key, so as to ensure that bitcoin and other blockchain assets can only be used by legitimate owners. But quantum computer can solve the problem of asymmetric encryption. Quantum computer can calculate the private key from the public key in a few minutes. After knowing all the private keys, people with quantum computer can spend bitcoin and other digital currency at will. Of course, when the quantum computer will come out is also a problem. The digital currency protocol is constantly adding new encryption standards, but the potential threat brought by the quantum computer has to attract the attention of investors
9. There is a possibility of a big reversal in the supply and demand level
the market value of the blockchain token market has hovered around us $trillion. Although OTC funds are still pouring in, the stability and growth rate of the capital inflow are questionable. The supply of encrypted digital currency is a very embarrassing thing. From the perspective of a single digital currency, the total amount is strictly limited. For example, there are only 21 million bitcoins, but the threshold of issuing encrypted digital currency is getting lower and lower. Anyone and any organization can issue encrypted digital currency anytime and anywhere, and the supply is almost unlimited. On the other hand, the increasing transaction cost is restraining the demand side. At present, investors in the transaction link need to pay the transaction fees in the exchange, and also pay the miners' fees when transferring money. If countries begin to tax digital currency transactions in the future, it means that this market will have to bear more operating costs without generating its own profitability, If coupled with the increasing supply level, the overall market supply and demand expectations may reverse in a moment
10. Lack of legal protection for blockchain assets
it is not uncommon that global digital currency exchanges have been "hacked", and in the process of all kinds of over-the-counter and on-the-spot transactions, fraud also occurs from time to time, and the legal protection for investors is very limited. Especially for domestic investors, once they are stolen or cheated because of trading digital currency, it is almost difficult to recover effectively. Due to the lack of intermediary guarantee from banks and other levels, the security of digital currency is entirely under their own responsibility. Although this is in line with the logic of self preservation of private property, it also brings greater uncertainty to the storage and transaction of digital currency assets. Before there is no complete legal system to protect the rights and interests of personal digital currency assets, the legal security of investment in blockchain related assets is a very serious problem
the four ministries and commissions have issued early warning of risks long ago. The CBRC, the Ministry of instry and information technology, the people's Bank of China and the State Administration for Instry and Commerce have suggested that recently, in the name of "financial mutual assistance", there have been behaviors in many places in China that promise high returns and lure the public to invest funds. Its main features include
Ponzi scheme is the name of investment fraud in the financial field. It is the ancestor of pyramid scheme that many illegal pyramid schemes use to collect money. This kind of fraud is "invented" by a speculator named Charles Ponzi< br />
1. Securities trading does not need transaction intermediary, and it is highly efficient to directly go from indivial to indivial, or from institution to institution, or from institution to indivial
2. There is no handling charge
3. There is no need for intermediate reconciliation, trusteeship, etc. operation management is likely to end because of this.