1 thought on “What is the core of the blockchain economy?”
Eugene
Since the birth of Bitcoin, more than 1,600 virtual currencies have emerged worldwide, which has formed a huge industrial chain ecology around the generation, storage, and transaction of virtual currencies. But overall, the industry is still in the start period, and there is still a lot of distance from the real value application area. The core of the blockchain economy is the reconstruction of business logic and organizational form. Therefore, it is necessary to obtain an example of application to the application in multiple industries to indicate its value. This article will explore the business model of blockchain in various industries from the perspective of combining blockchain and industry demand.
First of all, the core of the blockchain is to solve the problem of credit: Credit is the basis of all business activities and finance. The United States has implemented trusted identity since 2011, while China has achieved supervision information transmission through real -name systems. The significance of the blockchain is to establish decentralized trust from a technical level, and realize a complete distributed credit system. Secondly, the blockchain solves the problem of value exchange: The traditional network can realize the point to pass the point of information, but the point to point transmission of points from the point of value cannot be achieved. Because the information is allowed to be replicated, and the value must be confirmed and has -sexuality, it must rely on a centralized agency to achieve value transmission. The blockchain perfectly solves this problem and provides a method of realizing value points to point transmission. In the process of value transmission, the network will be used to achieve accounting without relying on a centralized institution. Therefore, blockchain is expected to become the infrastructure of building a new type of finance and the cornerstone of the future value Internet.
The application of blockchain The application of blockchain currently has two modes: ) Native blockchain application: directly decentralized based on decentralization Blockchain technology, realizing applications such as value transmission and transactions, such as digital currency; ) "Blockchain " mode: combine the traditional scene with the underlying protocol of the blockchain to improve efficiency, reduce costs, reduce costs Essence The application of blockchain in various industries is expected to be based on the second model. The blockchain has five core attributes, namely: transaction attributes (value attributes), certificate deposit attributes, trust attributes, intelligent attributes, and traceability. If the core attributes are combined with the needs of the industry to solve the problem of industry pain points, it has become the business model of blockchain applications in various industries. Blockchain bank 1. Cross -border payment Cross -border payment is a pain point that has long plagued the banking industry for a long time. Traditional cross -border payment methods include two categories: one is online payment, including electronic account payment and international credit card payment, which is suitable for small retail amounts; second, bank remittance model, suitable for large amount transactions; both exist in the accounting cycle Long, high cost, low transaction transparency and other issues. Especially in recent years, with the rise of cross -border e -commerce, convenient, fast, safe, and low -cost cross -border payment has become an urgent demand for the industry. The role of blockchain: The characteristics of blockchain to intermediary, open transaction is open and transparent, without the addition of third -party payment institutions, shortening the payment cycle, reducing costs, and increasing transaction transparency. For example, in December 2017, China Merchants Bank joined hands with Yonglong Bank and Yonglong Shenzhen Branch to successfully achieve cross -border RMB remittances using blockchain technology between the three parties. Its liquidation process is safe, efficient, and fast, which greatly improves customer experience. 2. Supply chain finance The pain points in this field lies in long financing cycles and high costs. Centered on the core enterprise system of the supply chain, it is difficult for a third -party credit increase agency to identify the authenticity of various relevant vouchers on the supply chain, resulting in a long time of manual review and high financing costs. The role of blockchain: The blockchain will introduce consensus mechanisms, existence proof, non -tampering, traceability and other characteristics to introduce supply chain finance. The authenticity of related vouchers, thereby reducing financing costs and shortening financing cycles. For example, in April 2017, listed companies jointly released the blockchain supply chain financial service system "easy to see blocks" with listed companies. The registration of "easy to see blocks" was successfully registered. As of the end of July, the number of transactions was close to 8,000, and the total amount of investment exceeded 100 million yuan. 3. Digital bills The pain points of the digital bill industry are long -term problems such as "false bills" and "one ticket for one ticket", which brings risks to the banking bill financing business. The role of blockchain: The presence of the blockchain and the characteristics of non -tampering, which effectively solves the problem of false digital bills; at the same time, the blockchain solves the problem of double flowers, which can avoid " Sell one more ticket. " For example, Shenzhen Blockchain Financial Services Co., Ltd. issued ticket chain products, which provides bill financing services based on the blockchain to solve the financing needs of small, medium and micro enterprises. Cooperation banks include Bank of Ganzhou, Guiyang Bank, Suzhou Bank, Shizuishan Bank, Langfang Bank, Wuhai Bank, Jilin Jiutai Rural Commercial Bank, Yaudu Rural Commercial Bank, Shenzhen Rural Industry Bank, Weifang Bank, Central Plains Bank, etc. In addition, Zhejiang Business Bank, JD Finance, Hang Seng Electronics, HNA, etc. are also verifying blockchain digital bill services. Blockchain securities 1. Asset securitization The asset securitization is guaranteed by future income to obtain current financing. The pain points in this field are: there are many participation subjects, many operating links, low transaction transparency, asymmetric information, and the authenticity of the underlying assets cannot be guaranteed. The role of blockchain: The blockchain introduces the attributes of existence, non -tampering, consensus mechanism such as asset securitization, and can monitor the real situation of assets in real time. Trust of underlying assets. Various types of assets such as equity, bonds, bills, income vouchers, warehouse orders, etc. can be integrated into the blockchain, becoming digital assets on the chain, improving the efficiency of asset circulation and reducing costs. For example, in May 2017, Baidu Finance and Baiyin Leasing, Huaneng Trust and other partners jointly issued the asset securitization ABS project supported by blockchain technology, with a distribution scale of 424 million yuan. Blockchain insurance 1. Insurance business The insurance industry has information asymmetry, lack of trust between customers and insurance institutions: It is difficult for users to choose the insurance product that suits them, and Insurance institutions are facing risk of fraud. The role of blockchain: The characteristics of the decentralization, openness, and traceability of the blockchain to establish a good communication channel for insurance institutions and users; Uniform management, not tampering, help insurance institutions to avoid risk of fraudulent insurance; at the same time, through smart contracts can improve work efficiency and reduce costs. For example, the French insurance giant AXA (AXA) is using the Ethereum public blockchain to provide automatic flight delay compensation for aviation passengers. If the flight is delayed for more than 2 hours, the "smart contract" insurance products will be automatically claimed to passengers. 2. Credit collection management The pain point in this field is that the data collection channels of credit reporting agencies are limited and data lack sharing, which makes it difficult to accurately characterize the credit situation of individuals or institutions; How to ensure the problem of user privacy. The role of blockchain: The blockchain has the characteristics of trust, consensus, and non -tampering. At the technical level, it ensures that it can achieve limited and controlled credit on the basis of effective protection of user privacy. Data sharing and verification. For example, the current Blockchain credit reporting business in China has been launched. In addition, startups in domestic companies such as Shanghai Rugao, LINKEYE, and Bobby Blockchain have also conducted joint credit signing and security certificates.
A as a basic technology, the blockchain has great application value The problem realizes the point to the point to pass. Therefore, it is considered to be the cornerstone of the future value Internet. The core of the blockchain business model is that the innovative attributes introduced by blockchain are combined with the application of traditional industries to achieve the reconstruction of business logic to create new application scenarios, or improve efficiency and reduce costs. The blockchain will also extend to various areas of social life: the blockchain solves the problems of digital asset management, transactions, and transfer. Applications such as data services, asset management, public services, and the Internet of Things are gradually landing in various fields, and "blockchain " is becoming a reality.
Since the birth of Bitcoin, more than 1,600 virtual currencies have emerged worldwide, which has formed a huge industrial chain ecology around the generation, storage, and transaction of virtual currencies. But overall, the industry is still in the start period, and there is still a lot of distance from the real value application area.
The core of the blockchain economy is the reconstruction of business logic and organizational form. Therefore, it is necessary to obtain an example of application to the application in multiple industries to indicate its value. This article will explore the business model of blockchain in various industries from the perspective of combining blockchain and industry demand.
First of all, the core of the blockchain is to solve the problem of credit:
Credit is the basis of all business activities and finance. The United States has implemented trusted identity since 2011, while China has achieved supervision information transmission through real -name systems. The significance of the blockchain is to establish decentralized trust from a technical level, and realize a complete distributed credit system.
Secondly, the blockchain solves the problem of value exchange:
The traditional network can realize the point to pass the point of information, but the point to point transmission of points from the point of value cannot be achieved. Because the information is allowed to be replicated, and the value must be confirmed and has -sexuality, it must rely on a centralized agency to achieve value transmission. The blockchain perfectly solves this problem and provides a method of realizing value points to point transmission. In the process of value transmission, the network will be used to achieve accounting without relying on a centralized institution. Therefore, blockchain is expected to become the infrastructure of building a new type of finance and the cornerstone of the future value Internet.
The application of blockchain
The application of blockchain currently has two modes:
) Native blockchain application: directly decentralized based on decentralization Blockchain technology, realizing applications such as value transmission and transactions, such as digital currency;
) "Blockchain " mode: combine the traditional scene with the underlying protocol of the blockchain to improve efficiency, reduce costs, reduce costs Essence The application of blockchain in various industries is expected to be based on the second model.
The blockchain has five core attributes, namely: transaction attributes (value attributes), certificate deposit attributes, trust attributes, intelligent attributes, and traceability. If the core attributes are combined with the needs of the industry to solve the problem of industry pain points, it has become the business model of blockchain applications in various industries.
Blockchain bank
1. Cross -border payment
Cross -border payment is a pain point that has long plagued the banking industry for a long time. Traditional cross -border payment methods include two categories: one is online payment, including electronic account payment and international credit card payment, which is suitable for small retail amounts; second, bank remittance model, suitable for large amount transactions; both exist in the accounting cycle Long, high cost, low transaction transparency and other issues. Especially in recent years, with the rise of cross -border e -commerce, convenient, fast, safe, and low -cost cross -border payment has become an urgent demand for the industry.
The role of blockchain:
The characteristics of blockchain to intermediary, open transaction is open and transparent, without the addition of third -party payment institutions, shortening the payment cycle, reducing costs, and increasing transaction transparency. For example, in December 2017, China Merchants Bank joined hands with Yonglong Bank and Yonglong Shenzhen Branch to successfully achieve cross -border RMB remittances using blockchain technology between the three parties. Its liquidation process is safe, efficient, and fast, which greatly improves customer experience.
2. Supply chain finance
The pain points in this field lies in long financing cycles and high costs. Centered on the core enterprise system of the supply chain, it is difficult for a third -party credit increase agency to identify the authenticity of various relevant vouchers on the supply chain, resulting in a long time of manual review and high financing costs.
The role of blockchain:
The blockchain will introduce consensus mechanisms, existence proof, non -tampering, traceability and other characteristics to introduce supply chain finance. The authenticity of related vouchers, thereby reducing financing costs and shortening financing cycles. For example, in April 2017, listed companies jointly released the blockchain supply chain financial service system "easy to see blocks" with listed companies. The registration of "easy to see blocks" was successfully registered. As of the end of July, the number of transactions was close to 8,000, and the total amount of investment exceeded 100 million yuan.
3. Digital bills
The pain points of the digital bill industry are long -term problems such as "false bills" and "one ticket for one ticket", which brings risks to the banking bill financing business.
The role of blockchain:
The presence of the blockchain and the characteristics of non -tampering, which effectively solves the problem of false digital bills; at the same time, the blockchain solves the problem of double flowers, which can avoid " Sell one more ticket. " For example, Shenzhen Blockchain Financial Services Co., Ltd. issued ticket chain products, which provides bill financing services based on the blockchain to solve the financing needs of small, medium and micro enterprises. Cooperation banks include Bank of Ganzhou, Guiyang Bank, Suzhou Bank, Shizuishan Bank, Langfang Bank, Wuhai Bank, Jilin Jiutai Rural Commercial Bank, Yaudu Rural Commercial Bank, Shenzhen Rural Industry Bank, Weifang Bank, Central Plains Bank, etc. In addition, Zhejiang Business Bank, JD Finance, Hang Seng Electronics, HNA, etc. are also verifying blockchain digital bill services.
Blockchain securities
1. Asset securitization
The asset securitization is guaranteed by future income to obtain current financing. The pain points in this field are: there are many participation subjects, many operating links, low transaction transparency, asymmetric information, and the authenticity of the underlying assets cannot be guaranteed.
The role of blockchain:
The blockchain introduces the attributes of existence, non -tampering, consensus mechanism such as asset securitization, and can monitor the real situation of assets in real time. Trust of underlying assets. Various types of assets such as equity, bonds, bills, income vouchers, warehouse orders, etc. can be integrated into the blockchain, becoming digital assets on the chain, improving the efficiency of asset circulation and reducing costs. For example, in May 2017, Baidu Finance and Baiyin Leasing, Huaneng Trust and other partners jointly issued the asset securitization ABS project supported by blockchain technology, with a distribution scale of 424 million yuan.
Blockchain insurance
1. Insurance business
The insurance industry has information asymmetry, lack of trust between customers and insurance institutions: It is difficult for users to choose the insurance product that suits them, and Insurance institutions are facing risk of fraud.
The role of blockchain:
The characteristics of the decentralization, openness, and traceability of the blockchain to establish a good communication channel for insurance institutions and users; Uniform management, not tampering, help insurance institutions to avoid risk of fraudulent insurance; at the same time, through smart contracts can improve work efficiency and reduce costs. For example, the French insurance giant AXA (AXA) is using the Ethereum public blockchain to provide automatic flight delay compensation for aviation passengers. If the flight is delayed for more than 2 hours, the "smart contract" insurance products will be automatically claimed to passengers.
2. Credit collection management
The pain point in this field is that the data collection channels of credit reporting agencies are limited and data lack sharing, which makes it difficult to accurately characterize the credit situation of individuals or institutions; How to ensure the problem of user privacy.
The role of blockchain:
The blockchain has the characteristics of trust, consensus, and non -tampering. At the technical level, it ensures that it can achieve limited and controlled credit on the basis of effective protection of user privacy. Data sharing and verification. For example, the current Blockchain credit reporting business in China has been launched. In addition, startups in domestic companies such as Shanghai Rugao, LINKEYE, and Bobby Blockchain have also conducted joint credit signing and security certificates.
A as a basic technology, the blockchain has great application value The problem realizes the point to the point to pass. Therefore, it is considered to be the cornerstone of the future value Internet.
The core of the blockchain business model is that the innovative attributes introduced by blockchain are combined with the application of traditional industries to achieve the reconstruction of business logic to create new application scenarios, or improve efficiency and reduce costs.
The blockchain will also extend to various areas of social life: the blockchain solves the problems of digital asset management, transactions, and transfer. Applications such as data services, asset management, public services, and the Internet of Things are gradually landing in various fields, and "blockchain " is becoming a reality.