Private chains are self-built and internally operated blockchain structures of their respective enterprises and institutions, with little information disclosure, but it is believed that using their own money to do their own things and solve their own problems will not cause any major problems.
The development of alliance chain has always been low-key. Since the blockchain technology has been recognized by the mainstream economy and society, pragmatic mainstream economic institutions have carried out research and development and application for about four years, during which they have formed the backbone of the alliance chain, exploring another correct way for the landing application and ecological construction of blockchain. In a sense, the alliance chain has gone through infancy and started to enter a new era of "public alliance chain". The strong relationship between alliance chain and mainstream economic industrial resources also determines the mainstream position of alliance chain in the application prospect of blockchain technology.
With the opening of the digital economy era and the popularity of distributed business models, blockchain technology has also been able to give play to its advantages and become a representative of cutting-edge technology. 20 16 Gold Chain Alliance members Weizhong Bank, Shanghai Wanxiang Blockchain and Matrix Yuan have reached strategic cooperation, and * * * is committed to exploring blockchain technology, and
The full name of Golden Chain Alliance is Financial Blockchain Cooperation Alliance (Shenzhen), which is a non-profit organization founded by more than 20 financial institutions and technology enterprises including Shenzhen Financial Technology Association, Shenzhen Qianhai Weizhong Bank and Shenzhen Zheng Tong on May 3, 2065438. As an open organization, Golden Chain Alliance can apply to join financial institutions that voluntarily abide by the articles of association and enterprises that provide scientific and technological services for financial institutions. Up to now, the members of Golden Chain Alliance have covered more than 80 institutions in six major industries, including banks, funds, securities, insurance, local property rights exchanges and technology companies.
2016165438+126 October, Golden Alliance released the proposition of financial distributed ledger, and put forward five principles: legal compliance, traceability, security, privacy protection and business orientation, and seven principles: value alliance, self-control, security, credibility, high efficiency, business feasibility, flexible configuration and intelligent supervision.
Objective: To integrate and coordinate the research resources of financial blockchain technology, form a joint force and coordination mechanism of financial blockchain technology research and application research, improve the R&D ability of member units in the field of blockchain technology, explore, develop and realize financial alliance blockchain suitable for financial institutions, and its application scenarios.
The general meeting of members of the Golden Chain Alliance is the highest authority; The standing body of the congress is the presidium, which leads the Union to carry out its daily work when the congress is not in session and is responsible to the congress; The presidium consists of a technical committee (presiding over application projects), a standards technical working committee (presiding over the establishment, formulation, verification and release of standards) and an advisory committee (organizing external experts to participate in the discussion of technologies and standards).
Golden Alliance has established research directions in the fields of credit, equity, points, insurance, bills, cloud services, digital assets, distribution and trading of wealth management products, and some research projects have now landed or launched product prototypes.
The underlying open source platform (FISCO BCOS) of the Golden Chain Alliance blockchain was created by the Golden Chain Alliance Open Source Working Group. Members of the working group include members of the Golden Chain Alliance, such as Bo Yan Science and Technology, Huawei, Shenzhen Stock Exchange, Digital China, Sifang Jingchuang, Tencent, Weizhong Bank, Yuexiu Jinke, etc., aiming at creating a safe and controllable blockchain underlying platform suitable for the financial field.
Financial services are one of the earliest application fields of blockchain. Blockchain technology has the advantages of safety and reliability, simplified process, cost saving, reduced operational risk and increased trust, and has the potential to reconstruct and sublimate the original financial infrastructure. The financial industry pays attention to multi-party peer-to-peer cooperation, has strong supervision and high security requirements, and needs to make requirements for node access and authority management, so the technical direction of alliance chain has become the main choice for the financial industry.
At present, China's financial industry is opening to the outside world at an unprecedented speed, and the pace of financial innovation is also accelerating. Therefore, it is an urgent challenge for the industry to effectively balance the relationship between open innovation and risk prevention and firmly hold the bottom line that systematic risks do not occur.
From the perspective of financial IT infrastructure, there are still some shortcomings and pain points in operational risk, moral risk, credit risk and information protection risk.
First, the data of financial IT system may still be tampered with, forged or inconsistent.
Second, different financial institutions have different infrastructure and business processes, and even involve more manual processing links, which greatly increases operating costs and is prone to operational risks and moral hazard.
Third, financial business and financial cooperation involve multiple participants or intermediaries, which is easy to increase trust cost and friction cost, and there are also some problems of mutual trust, cooperation or cooperation equivalence.
Fourth, financial business is often complicated, and it is easy to miss the records of all the elements of the business, and sometimes it is difficult to trace the whole process of the business, which can not meet the needs of supervision and audit.
Fifth, the data between different financial institutions is relatively independent, and it is difficult to achieve safe and efficient interaction, which leads to the high cost of repeating KYC, anti-money laundering and anti-fraud, and indirectly brings the risk that user data is leaked by some intermediaries.
Sixth, the availability and adaptability of centralized IT infrastructure is weak, so distributed technology is needed to improve its robustness or adaptability.
As a combined infrastructure solution, blockchain technology can meet the needs of the financial industry in principle. However, due to the more diversified and strict requirements of the financial industry, as a financial blockchain solution, it is necessary to comprehensively consider business applicability, performance, security, policy, technical feasibility, operation and maintenance, governance, cost and other dimensions on the basis of general industry blockchain technology and according to the special business needs of financial institutions, existing technical level and requirements or conditions of laws and regulations.
First, the appropriateness of the business scenario. Not all financial business scenarios need to adopt blockchain technology. Generally speaking, in the scenario involving multi-party participation and peer-to-peer cooperation, the traditional centralized system architecture is often difficult to meet the demand, so we can consider using blockchain technology to increase mutual trust, improve business operation efficiency and reduce business operation cost and friction cost.
Second, the performance of the blockchain system. Financial services often have the characteristics of large transaction volume, high transaction frequency and timely confirmation. Therefore, the blockchain open source platform in the financial industry needs to analyze the technical performance indicators such as business volume, potential business growth scale, concurrent business volume and response time that the blockchain system needs to support according to the current business scale of financial institutions. Because the performance support of different technical modules, such as blockchain platforms with different knowledge mechanisms, is quite different, it needs to be evaluated according to business performance requirements and combined with blockchain performance and efficiency indicators.
Third, the security of the blockchain system. Blockchain can ensure the credibility of recorded data from the technical level and prevent data from being tampered with and forged. In addition, in terms of data sensitivity and security, it is necessary to evaluate the content encryption strength and access control of uplink data. Financial institutions need to choose mature, applicable and secure encryption algorithms according to the specific security requirements of their own businesses.
Fourth, policy compliance. Blockchain is a set of technical solutions. On the premise of reasonable design, it can support the existing business and supplement the existing centralized system. However, in the process of using blockchain to conduct business, financial institutions must implement it within the existing regulatory requirements and legal framework of the country.
Fifth, technical feasibility. Blockchain technology has landed in some financial scenarios, but it is still a new technology. It is necessary to fully evaluate the fit of this technology with specific business and its advantages and disadvantages compared with traditional systems, and finally choose a suitable blockchain platform for demonstration and trial operation.
Sixth, operation and maintenance and governance capabilities. Because the business based on blockchain is different from the traditional centralized system in operation and management, it requires extremely high continuous governance of financial business. Therefore, it is necessary to make corresponding planning and adjustment, evaluate the feasibility and sustainability of the new governance structure, evaluate the impact of version iteration and the official launch of the system, and monitor the operation of blockchain system in real time to ensure the controllability of business and the stability of financial environment.
Seventh, the cost is controllable and economical. Blockchain applications solve specific problems in actual business through technical characteristics, and applications that effectively solve pain points can bring huge benefits to financial business, and the value of the application itself can also be revealed; On the contrary, if we can't solve the important problems in the industry, we need to face the trade-off between cost and benefit.
If we can build a safe and reliable financial blockchain underlying platform for the special needs of the financial industry, blockchain technology will be of great use in the financial industry.
For example, from the perspective of banking institutions, the key exploration direction is generally to apply blockchain technology to reduce clearing and settlement costs, improve the efficiency of middle and back office operations, enhance the degree of process automation, and reduce operating costs. In addition, in the cross-border financial scenario, blockchain helps to realize the sharing of account books among cross-border financial institutions, reduce the cost of reconciliation and settlement and dispute friction between cooperative banks, and thus improve the processing speed and efficiency of cross-border business.
From the perspective of non-bank financial institutions, blockchain can be used to enhance the authority of rights registration and information depository, reduce the risk of counterparties, solve the problems of data tracking and information anti-counterfeiting, and reduce the operating cost of auditing.
From the perspective of financial regulators, blockchain provides regulators with consistent and easily auditable data. By analyzing the data of cross-institutional blockchain, it can supervise financial business faster and more accurately than the traditional audit process. For example, in the anti-money laundering scenario, the balance and transaction records of each account are traceable, and any link of any transaction will not be out of the sight of supervision, which will greatly strengthen the anti-money laundering efforts.
An efficient and reliable message communication protocol based on blockchain network is designed, which is called Advanced Messenger Chain Protocol for short, and the following functions are mainly realized:
? Based on the blockchain network, it supports real-time message communication between banks and point to point;
? Provide a standardized interface for the interaction between offline systems and blockchains;
? The blockchain system can actively call the business interface of the system under the chain;
The technical features of this agreement are:
? In the point-to-point blockchain network topology, plan the communication path of nodes to ensure that messages can arrive;
? It can quickly perceive the node abnormality of blockchain network and automatically switch paths to resend messages;
? Encryption technology is used in communication to ensure the privacy of communication layer.
The contract naming service CNS (Contract Name Service) is designed. The design goal of CNS is to name the corresponding relationship between business layer and smart contract, so that the business layer no longer cares about the related contract address. Similar to the use of DNS on the Internet, the use of domain names makes it easier for users to remember the access methods of websites, and also gives websites great flexibility in clustering, migration and expansion.
Parallel PBFT ***
Standard raft * * *
Parallel Computing and Hot Account Solution
FISCO BCOS conducts in-depth exploration in data integration analysis, transaction management and control, and identity authentication. To meet the high standards of supervision and risk control in the financial industry.
Risk data integration
Based on the data that can't be tampered with, tracked and distributed with high consistency in the blockchain, it can provide sufficient and transparent information to the regulatory authorities. Transaction participants, transaction details, transaction process and transaction history are all recorded in the blockchain ledger, which can realize the complete and proper preservation of massive historical data, solve the problem of data islands and meet the requirements of structured, clear, accurate and complete risk data.
Risk modeling, analysis and prediction
Combining the data completed in the blockchain with big data mining, machine learning and other technologies, and then integrating market data and industry data, we can formulate more accurate risk models, improve risk prediction capabilities, and meet the requirements of comprehensive risk management of institutions.
Real-time transaction monitoring, reporting and interception
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Grand prize: ODR chain-a typical application of public alliance chain
—— ODRChain, the most eye-catching champion project, based on the underlying platform of FISCO BCOS, uses blockchain technology to solve the pain points of traditional judicial handling of online disputes, such as the difficulty in authenticating the authenticity of electronic data and the rapid backlog of a large number of cases and disputes that cannot be digested.
At present, ODRChain has realized the time-consuming process from clicking "one-click arbitration" to receiving the arbitration award, which has been shortened from the traditional arbitration process of several months to about 7 days, while the arbitration fee that used to cost thousands of yuan has also been reduced to several hundred yuan. By the end of February, 20 18 and 18, ODRChain had completed the deposit and management of more than10 million contracts, involving hundreds of billions of funds.
First prize: just sign-the white box cipher algorithm turns the mobile phone into a U shield.
-Just Sign, the project to win the first prize in the competition, is an electronic contract signing and voucher saving system based on FISCO BOCS. Its original JustKey white box cipher algorithm realizes that "the mobile phone is a U shield", which solves the problems of limited compatibility of traditional CA, inability of mobile terminal to protect key security, and vulnerability of centralized data storage.
Expert comments believe that electronic contracts involve complex legal relations and interests, and it is difficult to strike a balance between security, integrity and portability for a long time. The team's original white-box cryptographic algorithm really helps to improve the security of blockchain deposit scenarios.
Second Prize: Trusted Interconnection Solution for the Internet of Things-Smart life is like this.
The trusted interconnection solution of the Internet of Things, which Sichuan Changhong Security Laboratory participated in, depicts a smart home blueprint that hardly needs your attention. When analyzing the blockchain technology behind it, the team representative said that the cooperation alliance between enterprises should be established based on the alliance chain, and the interconnection and mutual trust of IoT devices between different manufacturers should be opened up. On the basis of insight into typical business scenarios of smart life, smart terminal registration, scenario rules, trust rules and linkage rules are realized through smart contracts.
The expert review of the contest believes that the project has tangible hardware and scenarios in the field of Internet of Things, which is expected to further promote application scenarios such as distributed AI assistants, resource sharing, life cycle management and multi-channel payment, and truly usher in a smart life.
In the project that won the third prize in the competition, the characteristics of blockchain in terms of safety and efficiency were accurately locked, providing practical solutions for the industry it represents. Moreover, the team of teachers and students in Tsinghua University has found a new way to develop cross-layer full-stack blockchain security detection technology, which will protect other blockchain applications for a lifetime, and its technical strength is highly appreciated by the judges.
Also winning the third prize are the trusted electronic certificate platform of Shenzhen E-commerce Security Certificate Management Co., Ltd., the real estate registration platform of Wuhan Chain Motion Times Technology Co., Ltd., the Rongcheng blockchain service platform of Shandong Guan Hai Data Technology Co., Ltd., the traceability of the animal husbandry blockchain of QuanUnicom Co., Ltd., the tourism finance alliance platform of Shenzhen Xun You Information Technology Co., Ltd., and the copyright safe of a technology development company in Beijing.
Shanghai Rescue Information Technology Co., Ltd.' s first response and mutual aid, HaveFund of "Yongteng Group I Innovate", blockchain policy management of Qianhai Life Insurance Co., Ltd., and "Yunkuai" account system of "Sekinoyamaguchi Hulu Brothers of Huazhong University of Science and Technology" also won the excellent social value award, excellent business design award, excellent user value award, excellent creativity award and excellent application integration award respectively.
Ma, Chairman of the Technical Committee of Golden Chain Alliance, expounded the concept of "public chain alliance". He believes that the alliance chain should realize self-sublimation and should be able to evolve into an ecology that provides services for the public, that is, the "mass alliance chain".
Different from the idea of "putting out the scheme first, raising funds, vigorously promoting, raising prices and finally putting into development" of public chain projects, alliance chain projects are adhering to the "pragmatic" idea of "putting into self-owned funds for development first, verifying the production environment, accumulating real customers and users, steadily trying and making mistakes and finally promoting publicity". However, due to hard work, emphasis on real application, and insufficient publicity, it is really helpless to fall into a passive situation of "more people landing and fewer people applauding". Golden Chain Alliance hopes that through this competition, the project team of the alliance chain will take the stage to show its achievements, enhance the influence of the alliance chain, and let the public know more about the real application and sustainable development of the alliance chain project. ?